Years After Losing His $400,000,000 Empire, “Street People” Mike Tyson Draws Money Comparison Between His and Current Generation Athletes

You name it, Mike Tyson had it. Multi-million dollar mansions, tigers in his backyard, luxurious watches, and expensive cars. However, this lifestyle did not last long enough for him. A year prior to his retirement, the former Heavyweight champion filed for bankruptcy in the year 2003. How did he lose his $400,000,000 Empire? The reason behind the same is more than one.

Many athletes like him, who made abundant fortune, ended up bankrupt. Moreover, in a recent turn of events, ‘Iron Mike,’ reveals that the present generation is a lot more financially sound. Why does he say this? Let’s find out.

Mike Tyson feels that the current generation is smarter

In a recent episode of, ‘Hotboxin’ with Mike Tyson,’ the ex-NFL player, Antonio Brown was featured on as a guest. Amongst other things, Tyson dived in on the current landscape of athletes with regard to handling their fortune. According to him, athletes of this generation are a lot more smart regarding handling money He does not see wealthy athletes filing for bankruptcy after their retirement.

In addition, he draws a comparison with, ‘Street people,’ who did not have any knowledge on how to save and invest money. Reflecting on the same, he stated, “Now athletes are smarter now to handle their money more proficient than we did back then. Most of us were guys that had criminal records and stuff. We never thought we live this long. When I say street people I do not mean people the live in the street you know.”

Many would agree with Tyson’s assessment. In today’s age and time, there maybe more knowledge and caution regarding expenditure. Moreover, this has not been the only instance when Tyson has spoken about going bankrupt.

‘Iron Mike’ gets candid about his bankruptcy

In another episode of the podcast, Tyson on similar lines candidly reveals he had no clue on how to deal with abundant wealth and was reckless. Especially during the nascent stages of his career when he wanted to spend his money on extravagant items. Not to mention, he paid a substantial amount of his wealth as alimony to his first wife Robin Givens. Subsequently, he filled for bankruptcy in the year 2003.  While citing an anecdote, he stated, “I mean, you know when you’re young you know how it was you get money you want a Rolex chain… It gets crazy.”

That being said, ‘The baddest man ever,’ survived bankruptcy by paying off small amounts of his debt with time. Even decades after his retirement, the boxer is in public limelight and has multiple sources of income. Tyson’s journey is an example for many athletes to refrain from certain practices that he indulged in.

Related Posts

Donald Trump in astonishing King Charles boast as he confirms date for UK trip

US President Donald Trump is set to make a trip to the UK later this year to meet with King Charles at Windsor Castle and boost relations…

Drones spotted above Sandringham ahead of Zelensky’s visit with no-fly zone imposed

Volodymyr ­Zelensky is set to visit King Charles, a trip believed to be of “huge interest to Russian spies” – and there are three air forces near…

David Beckham’s gushing tribute to ‘most amazing wife’ Victoria as she turns 51

Football legend David Beckham took to his Instagram page to share a number of throwback photos as he celebrated his Spice Girl singer wife Victoria’s 51st birthday…

Victoria Beckham’s tumultuous family life as she turns 51 – Brooklyn feud to huge snub

Victoria Beckham is marking her 51st birthday after welcoming four children with David Beckham over the years – but their family life is reportedly more complicated than…

Strictly’s Kai Widdrington shares first loved-up snap with new girlfriend

Strictly Come Dancing pro Kai Widdrington has gone public with his new partner Chloe Wells in a post on social media, nine months on from his split…

Zara McDermott and Louis Tomlinson at odds already despite finally confirming romance

Love Island star Zara McDermott and One Direction’s Louis Tomlinson have finally confirmed their romance after their secret dates, however one may be more into it than…