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I was reading about Mike online and I saw some articles stating that he made over 300 million over his boxing career but other sources like Forbes have stated that he's made closer to 680 million, meanwhile other articles go and say he made around 450 million. So I was just wondering if anyone knew the real amount he made and could back up their arguments by sharing contracts signed or purses revealed. I'm really curious since I'm such a big fan of Mike Tyson myself
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I don't know. I am not in a position to know. If the reports were even close to true he made an unbelievable amount of money and Holyfield made even more money. They were even better at spending money and wasting money than making it. Holyfield went from having hundreds of millions to being worth well less than a million today. Tyson went near broke for a while but he figured out ways to market himself and has a few million now. Some boxers who made many millions in the ring like Hearns and Bowe have almost no money now. Foreman is probably the richest of all boxers and is worth about 500 million. -
Whatever Tyson made I'm willing to bet Don King made more...Comment
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Guys who buy tigers and shop for girlfriends by watching TV and saying “get me that one” are the kind of guys who don’t collect receipts.Comment
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don king fighters used to see a fraction of their "purses." all fighter do, but king was notorious for being able to get between a fighter and his purse.
don would have his son act as a manager. managers in boxing make as much as 33% and they are obligated to not be a fighter's promoter, but king got around this. then you pay a trainer about 10%. some guys negotiate a different amount with their trainers when they get successful. want to know why most fighter - trianer splits at the top happen even when guys are winning fights? money.
and cutmen usually make 1.5%.
so immedailte you have damn near 50% going out the door right away. then you have expenses. tyson had an entourage. they stay at hotels, eat on his dime, fly around the country. then youahve training expenses. sparring partners have to get flown in or at least paid if they are local. press tours, the whole nine yards, many of those expenses thaty fighters incur to participate come out of their pockets.
then you pay taxes. tax rates for the suepr wealthy hve been as high as 35% or so in my lifetime. if you have a good accountant you don't pay neary tyhat much, but this isn't an international business that can shelter itself from taxes, it's a boxer.
i doubt seriously that tyson made anywhere near that kind of money when it was all said and done from his purses. he made plenty of money outside of the ring. he's one fo the most recognizable faces in history.
add in that tyson went to prison, his lawyer fees for that, his divorce from robin givens, and you can see how a lot of his money disappeared
i don;t think tyson or holyfield made as much in purses as floyd did, for example. inflation, no al haymon looking out for them, etc. floyd may go down as the best paid boxer of all time, form the look of it. the way people watch boxing has changed so much. premium cable is getting out of the game, there is no money to be made. i will still buy a worthy ppv, but i stream in full HD quality so many fights that used to cost me moneyt now. i have ESPN+, showtime app, and dazn. i don't even have cable any more. i used to pay for an entire cable sub, hbo, showtime, several pay per view each year, and it adds up.Comment
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It is very strange the way certain athletes become broke.
The main things that matters in life is good food, half decent house and clothing 'You also only really need one car etc'
I think it is the idolization of money which influences people to become broke 'Knocks me sick when I see people getting their pictures took next to sports cars' Those where some of the scenes I would see during the summer, sad bastards.
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