Mike Tyson has staged one of sport's most remarkable financial comebacks, rebuilding his wealth to an estimated $50million (£38.5m) after declaring bankruptcy in 2003.
The former heavyweight champion, once worth $300m (£231m) during his boxing prime, has transformed himself from lavish spender to savvy entrepreneur.
At 58, "Iron Mike" has created a multi-million-pound empire through cannabis businesses, media ventures and a high-profile return to the ring.
Despite earning a reported $423m (£362m) throughout his boxing career, Tyson's extravagant lifestyle led to financial ruin.
In 2003, he was forced to declare bankruptcy, owing millions in back taxes to the Internal Revenue Service.
During his prime, Tyson spent lavishly on luxury homes, expensive cars and jewellery, depleting his once-substantial fortune.
This financial collapse marked a turning point, forcing the boxing legend to completely reinvent his approach to money and business.
Tyson's financial resurgence reached new heights in November 2024 when he fought internet personality Jake Paul, with each boxer reportedly earning £40 million.
The bout, streamed live on Netflix, attracted a record-breaking 108 million viewers despite widespread complaints about streaming quality.
Paul, 31 years Tyson's junior, won by unanimous decision after a controversial build-up that included Tyson slapping Paul during the weigh-in after what many viewers perceived as a racist taunt.
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Tyson's most lucrative business venture has been in the cannabis industry, which he entered in 2015 ahead of California's 2016 legalisation.
His company TYSON 2.0, founded in 2021, sells various cannabis products including his famous "Mike Bites" - ear-shaped gummies referencing his infamous 1997 bout with Evander Holyfield.
He also developed a 420-acre cannabis resort in Palm Springs, California, where guests can relax and smoke.
The cannabis market has proven profitable, with California's industry reaching $5.2billion (£4m) in sales by 2023.
READ MORE: Emma Raducanu withdraws from tournament days after impressive Miami Open
Tyson's media ventures have also contributed significantly to his financial recovery, with his YouTube podcast generating substantial revenue.
As of January 2025, the Mike Tyson podcast had amassed 3.8 million subscribers.
His channel's 231 videos have garnered an impressive 428 million views, creating another steady income stream.
This digital presence has helped Tyson maintain relevance with younger audiences whilst monetising his celebrity status and boxing expertise.
LATEST SPORT NEWS:
Tyson now lives a more modest lifestyle in Las Vegas with his family, a stark contrast to his previous extravagance.
His transformation from boxing champion to business entrepreneur represents a remarkable second act in his public life.
With his cannabis ventures expanding and his recent high-profile fight boosting his visibility, financial experts believe Tyson's £50 million fortune is likely to continue growing.
The former champion who once lost everything has successfully rebuilt his wealth through business acumen rather than boxing prowess.
Find Out More...
The former heavyweight champion, once worth $300m (£231m) during his boxing prime, has transformed himself from lavish spender to savvy entrepreneur.
At 58, "Iron Mike" has created a multi-million-pound empire through cannabis businesses, media ventures and a high-profile return to the ring.
Despite earning a reported $423m (£362m) throughout his boxing career, Tyson's extravagant lifestyle led to financial ruin.
In 2003, he was forced to declare bankruptcy, owing millions in back taxes to the Internal Revenue Service.
During his prime, Tyson spent lavishly on luxury homes, expensive cars and jewellery, depleting his once-substantial fortune.
This financial collapse marked a turning point, forcing the boxing legend to completely reinvent his approach to money and business.
Tyson's financial resurgence reached new heights in November 2024 when he fought internet personality Jake Paul, with each boxer reportedly earning £40 million.
The bout, streamed live on Netflix, attracted a record-breaking 108 million viewers despite widespread complaints about streaming quality.
Paul, 31 years Tyson's junior, won by unanimous decision after a controversial build-up that included Tyson slapping Paul during the weigh-in after what many viewers perceived as a racist taunt.
JUST IN: Luke Littler beats Phil Taylor in first 'match-up' - though not as you might think
Tyson's most lucrative business venture has been in the cannabis industry, which he entered in 2015 ahead of California's 2016 legalisation.
His company TYSON 2.0, founded in 2021, sells various cannabis products including his famous "Mike Bites" - ear-shaped gummies referencing his infamous 1997 bout with Evander Holyfield.
He also developed a 420-acre cannabis resort in Palm Springs, California, where guests can relax and smoke.
The cannabis market has proven profitable, with California's industry reaching $5.2billion (£4m) in sales by 2023.
READ MORE: Emma Raducanu withdraws from tournament days after impressive Miami Open
Tyson's media ventures have also contributed significantly to his financial recovery, with his YouTube podcast generating substantial revenue.
As of January 2025, the Mike Tyson podcast had amassed 3.8 million subscribers.
His channel's 231 videos have garnered an impressive 428 million views, creating another steady income stream.
This digital presence has helped Tyson maintain relevance with younger audiences whilst monetising his celebrity status and boxing expertise.
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Tyson now lives a more modest lifestyle in Las Vegas with his family, a stark contrast to his previous extravagance.
His transformation from boxing champion to business entrepreneur represents a remarkable second act in his public life.
With his cannabis ventures expanding and his recent high-profile fight boosting his visibility, financial experts believe Tyson's £50 million fortune is likely to continue growing.
The former champion who once lost everything has successfully rebuilt his wealth through business acumen rather than boxing prowess.
Find Out More...