Mike Tyson’s Former Fortune: From $300 Million to $10 Million Net Worth
According to Celebrity Net Worth, Mike Tyson’s current net worth stands at $10 million. However, there was a time when the heavyweight boxing champion possessed a staggering wealth exceeding $300 million. Unreserved in his spending, Tyson reportedly indulged in lavish purchases, ranging from exotic animals to gold bathtubs.
Among his extravagant purchases, cars held a special place in Tyson’s heart. The boxing legend even bestowed the cars he acquired as gifts upon others. For instance, it is widely known that he gifted rapper Ed Lover a Bentley. What many are unaware of is that the value of that single car alone likely surpasses the cumulative earnings of numerous boxers throughout their entire careers!
Mike Tyson’s Generous Gesture: Gifting a Bentley to Ed Lover, Only to Have It Reclaimed by His Team
During an interview with Vlad TV, Mike Tyson candidly revealed his inclination for gifting expensive cars. The exorbitant price tags of these vehicles held no significance to him, as his vast wealth rendered them as mere drops in the bucket. He expressed, “Yeah, I had cars. Cars and money didn’t mean anything to me. If I had $300 million… What would $500,000 matter?”
Among his generous acts, Tyson bestowed a Bentley upon his close friend and rapper, Ed Lover, with whom he frequently socialized and partied. However, the car’s transfer to his friend wasn’t a direct gift. After a wild night, Lover requested Tyson to drop him off at the location where he had left his own vehicle.
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Due to time constraints, Tyson allowed his friend to drive home in one of his cars – a Bentley. Ed Lover enjoyed the prized vehicle for several weeks, making use of it as well. Unexpectedly, he received a call from Tyson’s team, informing him that the car had to be returned. Lover willingly complied, unaware that Tyson had intended for it to be a permanent gift, but his team had reclaimed it out of jealousy.
Once upon a time, the former boxing champion found it effortless to bestow cars like mere specks of dust. Tyson’s vast fortune was a testament to his skill and success, allowing him to remain unconcerned about others’ earnings. However, it serves as a sobering reflection that many boxers won’t amass even a fraction of the Bentley’s value throughout their entire careers.
What is the Typical Earning Potential for Boxers in the USA?
When observing the immense fortunes amassed by figures like Mike Tyson or Floyd Mayweather, it’s natural for individuals to consider stepping into the ring solely for financial gain. However, it’s important to recognize that these individuals represent the exception rather than the norm. For the majority of boxers in the United States, earning millions is an elusive aspiration. According to Strictly Fighters, boxing generally lacks profitability for most practitioners.
Amateur boxers, for instance, only earn money if they participate in the World Series of Boxing, where annual earnings range between $25,000 to $300,000. On average, boxers receive approximately $2,225 for early-career fights, with more experienced individuals averaging slightly over $6,800 per bout. Moreover, most boxers partake in only four or five matches each year.
As a result, the income ceiling for these fighters typically ranges from $30,000 to $38,000 annually, excluding any potential earnings from endorsements or sponsorships. Consequently, achieving a level of wealth akin to Mike Tyson’s remains a dream seldom realized for the majority of boxers.
