The extent of Mike Tyson’s extravagant spending during his peak years until his bankruptcy in 2003 has again hit the headlines.
Tyson was the most recognizable athlete on the planet between 1985 and 1990 before incarceration sent him out of the public eye. But while he was at the top, boy, he enjoyed the fruits of his labor.
That was until ‘The Baddest Man on the Planet’ realized he’d run out. At that time, former promoter Don King faced accusations regarding where Tyson’s money went and why he had zero to show for his career efforts after the Lennox Lewis fight. Golden Boy’s Oscar De La Hoya has since leaped to his defense.
Speaking to Shannon Sharpe on Club Shay Shay, De La Hoya said King cannot take the blame for Tyson’s extravagance.
“People keep saying Don King ripped off Mike Tyson and this and that. Well, Mike Tyson made about 40o to 500 million [half a billion]. That’s his money. What he does with that, it’s not Don King’s fault,” De La Hoya stated. “So, as an athlete, you have to look out for your best interests as well.
“Mike Tyson made about $400M-$500M. That’s his money. What he does with that, it’s not Don King’s fault.” – @OscarDeLaHoya pic.twitter.com/EXNJZf4SJJ
— Club Shay Shay (@ClubShayShay) August 17, 2024
“A lot of fighters just turn away; they don’t want to hear about it. They don’t want to, I guess, know that’s real. They want to shy away from it and let somebody else deal with it. I think that it’s the athletes’ responsibility. It’s up to the individual. I emphasize that whether you have an elementary education, a high school education, or a Harvard graduate, You have to keep what is yours.
“Oh yeah, and whoever’s participating in the fight, it’s coming off their percentage as well. So, yeah, nothing’s free.”
Tyson reportedly had $430 million in paychecks, endorsements, and add-ons from his tenure as the youngest-ever heavyweight champion and upon his release from prison.
By the time the Lewis fight was over, Tyson had depleted the lot. He then signed a desperate deal with Showtime and hoped to make enough to walk away. He then lost to Danny Williams and scuppered any chance of retiring as a millionaire.
Iron Mike came back a year later, but he lost again to Kevin McBride before focusing on promoting and trying to launch a movie career. It wasn’t until his ‘Undisputed Truth‘ book release and subsequent podcast deal on ‘Hotboxin’ that Tyson got back on his feet.
Read all articles and exclusive interviews by Phil Jay. Learn more about the author, experienced boxing writer, and World Boxing News Editor since 2010. Follow on Twitter @PhilJWBN.
