Mike Tyson is undoubtedly one of the finest heavyweight boxers in the sport’s history and a role model for thriving and accumulating a hefty fortune despite growing up in poverty and a gang-infested neighborhood.
Tyson’s upbringing was incredibly difficult from when he was born on June 30, 1966, in Brooklyn, New York. It was raised there in poverty, violence, and living next to a criminal stepfather. As a result, by the time he was 13 years old, he had already been charged with 38 crimes.
Only when a juvenile prison guard and a veteran boxer saw Tyson’s fighting prowess in class did he try his hand at the sport, which introduced him to Cus D’Amatto, who, in addition to training him, also took on the role of his legal guardian when Mike was 16 years old?
Mike Tyson’s Net Worth
The world’s undisputed heavyweight champion in the late 1980s was retired American boxer, Mike Tyson. Mike Tyson has a $10 million net worth as of this writing. Mike was one of the world’s most well-known and well-paid athletes in his prime.
At age 20, he was the most recent champion in history. Regrettably, he lost or was defrauded of personal wealth that exceeded $300 million at its height. In 2003, Michael filed for bankruptcy. Per the bankruptcy filing, he was reported to be $23 million in debt at that time.
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Early Boxing Career
In 1981 and 1982, Tyson earned gold medals in junior Olympic boxing, where he had his first professional boxing fights. He competed in the 1984 Summer Olympics but was defeated twice by Henry Tillman. At 18, Tyson faced Hector Mercedes in his first professional bout, which he won through a first-round Knockout.
This would begin a rising trend for Tyson, who typically won in the opening round. With many projecting an early rise to popularity, Tyson continued to battle opponents more complex than those he had previously faced.
Early in his career, Tyson lost a significant father figure with the passing of Cus D’Amatto in 1985. Many people later claimed that Tyson’s later life would become unstable as a result of this.
Mike Tyson was taught the “peek-a-boo” style of defensive boxing by Cus D’Amatto, which featured a high guard and quick head movements. This aggressive counterpunching technique relies on charging the opponent, forcing him to swing, and seizing opportunities.
Tyson was renowned for his powerful punches and ability to bob and weave. Most of Tyson’s hitting force came from his legs, and he was famous for finishing fights with a right hook followed by an uppercut.
Mike agreed to a $27 million, eight-fight deal with HBO in 1987. The exchange continued until his matchup with Alex Stewart.
Tyson defeated Alex Stewart in 2 minutes and 27 seconds. Following that, he agreed to a long-term $120 million deal with Showtime that covered several fights, including Holyfield I and II.
Mike made at least $430 million in his career via fights and endorsements. That is equivalent to almost $700 million in today’s money.
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