Mike Tyson spends almost his entire Jake Paul purse on a mansion.....

[NihonJim]

Some dudes will never learn. Tyson had worked his way back from being millions in debt to having a very comfortable net worth of 10m, but after the Jake Paul fight the money immediately burned a hole in his pocket and he bought a 13m mansion.

Just so unnecessary, and you'd think these guys would learn and maybe Tyson would just buy a reasonable house, you know something nice in the 2-3m range, you can get a good enough house for anyone for that, but no....

https://www.realestate.com.au/news/m...ighting-purse/

[IceTrayDaGang]

like why do you need a 13mil mansion? lol.. these guys will never learn.

[IceTrayDaGang]

buy a $2-3mil home, cash it out... then hired folks to come and maintain the property every month or so... this is what i would have done.

[NihonJim]

like why do you need a 13mil mansion? lol.. these guys will never learn.

Gotta have the "status" haven't they these celebrities.

Boxers in particular are bad at realizing they aren't as rich as they think they are and that further paydays are not guaranteed.

[Boxing 112]

At this point in age he has a team advising him of investments and what to do. Buying property is better than splashing cash on cars or leaving the money in a bank. Property prices are going up. Money in the bank is decreasing in value with the cost of living increase and inflation

[IAmABoxingGuru]

buy a $2-3mil home, cash it out... then hired folks to come and maintain the property every month or so... this is what i would have done.

What do you mean by “cash it out”? Like turn around and sell it for a higher price than what you bought it for?

[djtmal]

Maybe he is setting his family up for the future

[IceTrayDaGang]

At this point in age he has a team advising him of investments and what to do. Buying property is better than splashing cash on cars or leaving the money in a bank. Property prices are going up. Money in the bank is decreasing in value with the cost of living increase and inflation

yes, buy property to flip later on BUT not a $13mil mansion lol.. you not gonna make any money back. a $13mil mansion will lose value as the time goes by.

[IceTrayDaGang]

Maybe he is setting his family up for the future

i meant buy the house outright. with a budget of $13mil, i would have spent $2-3mil on a house, cash it.

if i wanna buy houses and flip it, i would look into cheaper houses that are for sales.

[The D3vil]

Mike Tyson today is in a totally different financial space than he was as a young man when boxing was his only means of income.

He's got Tyson University now & is deep in the medical marijuana industry.

He's got TV shows, movies, and a podcast that makes him money.

Plus, he seems to have a good wife & family around him that watch after him this time.