{"id":24410,"date":"2020-02-27T22:04:02","date_gmt":"2020-02-27T22:04:02","guid":{"rendered":"https:\/\/vnsalvation.net\/?p=24410"},"modified":"2022-04-12T20:40:36","modified_gmt":"2022-04-12T20:40:36","slug":"how-mike-tyson-made-400-million-yet-still-declared-bankruptcy","status":"publish","type":"post","link":"https:\/\/hahosa.com\/vnsalvation\/how-mike-tyson-made-400-million-yet-still-declared-bankruptcy\/","title":{"rendered":"How Mike Tyson Made $400 Million Yet Still Declared Bankruptcy"},"content":{"rendered":"

How Mike Tyson Made $400 Million Yet Still Declared Bankruptcy<\/h1>\n

<\/span>\"Hugh<\/p>\n

Hugh Landman<\/a><\/div>\n
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The Mike Tyson bankruptcy might not have been exactly surprising, but it is still incredible. Mike Tyson’s lavish lifestyle<\/a> led him to go bankrupt in less than 20 years after becoming one of the wealthiest athletes<\/a> in the world. But\u00a0how Mike Tyson<\/a> went bankrupt is as weird of a story as it is inexplicable. After he went bankrupt in 2003 many asked, how did Mike Tyson lose all his money?<\/p>\n

There’s no doubt that part of the explanation lies in the fact that he spent gobs of money keeping up a lavish lifestyle. From exotic pets, like a pair of Bengal Tigers<\/a>, to a fleet of supercars, Tyson surrounded himself with the finer things in life. However, he says not all of it was his fault<\/a>. Iron Mike blames boxing promoters and his ex-wife for unscrupulously taking some of his fortune and not looking out for his best interests when it came to his finances. In the end, Mike lost it all and even spent time in prison for rape along the way.<\/p>\n<\/div>\n

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Some People Have Cats For Pets, Mike Tyson Had Two Tigers<\/span><\/div>\n<\/div>\n
\"Some
Photo:\u00a0 ESNEWS<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

Cats are a popular house pet, but Mike Tyson wasn’t content just to have any\u00a0old regular feline friend. No he needed two –\u00a0two tigers<\/span><\/a> to be exact. Tyson didn’t adopt the jungle cats from a friend either, no, he paid $140,000.00 for them. He didn’t stop there;\u00a0in addition to the tigers, Iron Mike hired a trainer who he then paid $125,000.00 per year. That’s a lot of money, but is also pretty awesome.<\/p>\n

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He Threw One Big Party<\/span><\/div>\n<\/div>\n
\"He
Photo:\u00a0 Boxing Legends Extra<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

There are two types of people in the world, those who hate their birthday and those who love their birthday. It is safe to say that Mike Tyson loves his birthday. One way he went broke is by spending $410,000<\/a> on a birthday party that he threw for himself. Sure, $400,000,000\u00a0would buy you almost 100 parties at that price, but with Tyson’s other expensive hobbies and tastes, he went broke well before then.<\/p>\n<\/div>\n<\/div>\n

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The Two Million Dollar Bathtub<\/span><\/div>\n<\/div>\n
\"The
Photo:\u00a0 Jeff Jackson<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

How much could a bathtub possibly cost?\u00a0Clearly,\u00a0for Mike Tyson, the answer was\u00a0the sky is the limit. He only wanted the best for his first wife, actress Robin Givens<\/a>, and that included where she bathed. Mike spent two\u00a0million dollars on a bathtub for Givens. Sadly, their marriage would last about as long as his massive fortune and the two were divorced on Valentine’s Day<\/a> of 1989.<\/p>\n

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Tyson Spent Millions Of Dollars On Cars<\/span><\/div>\n<\/div>\n
\"Tyson
Photo:\u00a0 PikataTV<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

Mike Tyson certainly had expensive taste, but he also didn’t seem to know the value of a dollar. One example of this is his car collection. Iron Mike loved fast cars and had some of the best exotic cars on the market. He owned Lamborghinis\u00a0and Ferraris<\/a> as he showed off his wealth and spent his boxing fortune. The most expensive car he had was a Bentley worth nearly\u00a0half of a\u00a0million dollars. It featured –\u00a0this was the 1980s, remember –\u00a0an in-car phone well before cell phones were popular and cheap.<\/p>\n

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Mike TysonAlso Ranks:<\/span>more <\/span><\/a>#6<\/span>OF 68<\/span>The Best Boxers of the 21st Century<\/a>#32<\/span>OF 2198<\/span>The Best Athletes Of All Time<\/a><\/div>\n<\/div>\n<\/div>\n<\/div>\n
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<\/span>He Had A Huge Gardening Bill<\/span><\/div>\n<\/div>\n
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Photo: Jack Pearce<\/a>\/Wikimedia<\/a>\/CC by SA 2.0<\/a><\/figcaption><\/figure>\n

Nobody likes cutting the grass;\u00a0it’s a chore usually done when it’s hot out and then the mower won’t start, all that is to say it is a pain. However,\u00a0Mike Tyson<\/a> only does pain in the boxing ring so\u00a0he hired a gardener to do the work for him –\u00a0well, several of them. With homes in Ohio, Maryland, and Connecticut, Tyson had a lot of ground for his groundskeepers to keep. All in all, his gardening bill topped $100,000.<\/p>\n

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<\/span>There Was The Gem-Covered Gold Chain<\/span><\/div>\n<\/div>\n
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Photo: Boxing and MMA<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

Not many people can walk into a jeweler store and walk out with a diamond covered chian without paying, but Mike Tyson<\/a> isn’t most people. The boxer had a reputation for spending lavishly and many of the retailers he frequented extended him lines of credit. Shortly before declaring bankruptcy in 2003, Tyson walked out of a jeweler’s in Las Vegas with a $173,000.00 chain\u00a0festooned with diamonds without paying. The owner of the store said a lot of retailers had extended Mike credit in the city but that they believed he would pay them back.<\/p>\n<\/div>\n<\/div>\n

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<\/span>He Racked Up Thousands In Unpaid Pager Bills<\/span><\/div>\n<\/div>\n
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Photo: Brian Birzer<\/a>\/Wikimedia<\/a>\/CC by 2.0<\/a><\/figcaption><\/figure>\n

Back in the days when pagers were an every day carry necessity, Mike Tyson racked up a huge bill for them. Along with his cell phone service, Mike managed to run up a $230,000\u00a0bill<\/a> for the devices in just two years between 1995 and 1997. That might not seem like a lot when he went through $400 million in that time, but it shows how much trouble Tyson had with managing his money.<\/p>\n

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<\/span>Tyson Sued Don King For $100 Million<\/span><\/div>\n<\/div>\n
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Photo: Gage Skidmore<\/a>\/Wikimedia<\/a>\/CC by SA 3.0<\/a><\/figcaption><\/figure>\n

Mike Tyson may have wasted millions of dollars, but he also ran with a crowd who was looking to make a buck or two off of him. According to Tyson, boxing promoter Don King misled him about a contract he signed while he was incarcerated after a rape conviction<\/a>. When he declared bankruptcy in 2003, Tyson was in the middle of suing King in order to get the money he claims was defrauded out of him by the promoter.<\/p>\n

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<\/span>His Monthly Spending Was Out Of Control<\/span><\/div>\n<\/div>\n
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Photo: Automotive Zone<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

Mike Tyson called himself<\/a> the “biggest fighter in the sport” and had earned the money to prove it. His boxing success was so lucrative that at one point he was spending $400,000\u00a0a month to support his lavish lifestyle<\/a>. Tyson would have done well to save some of his money though, he ended up deeply in debt and by 2003 was bankrupt.<\/p>\n

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<\/span>He Owed Millions In Unpaid Taxes<\/span><\/div>\n<\/div>\n
\"He
Photo: AlphaLife<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

Although he had expensive taste, it wasn’t just buying tigers and cars that got Mike Tyson in financial trouble. Throughout his career he made hundreds of millions of dollars and\u00a0it turns out that there may have been some irregularity with his income reporting, and it turned out he was deeply in debt to several governments.\u00a0Between the State of Georgia, the United Kingdom, Michigan, and\u00a0the Internal Revenue Service, Mike Tyson owed almost $20 million<\/a>\u00a0in taxes.<\/p>\n<\/div>\n<\/div>\n

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<\/span>Tyson’s First Divorce Was Costly<\/span><\/div>\n<\/div>\n
\"Tyson's
Photo: Starstracks29<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

Mike Tyson was paid millions for his fights but he still went broke. Part of what drove him to bankruptcy was his costly divorce after his first marriage. Tyson married actress Robin Givens in 1988, but things quickly soured. Givens told Barbra Walters in an interview that Tyson had a bad temper and scared her. Soon after the two divorced and Givens got a cool $10 million in the aftermath of the dissolution of the marriage<\/a>.<\/p>\n

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<\/span>There Was The Lost Suitcase Full Of Money<\/span><\/div>\n<\/div>\n
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Photo: RX Boxing<\/a>\/Youtube<\/a>\/Fair Use<\/a><\/figcaption><\/figure>\n

Mike Tyson was certainly irresponsible with his money. At one point he had hundreds of millions of dollars, but he watched it turn into millions\u00a0in debt<\/a>. He lost a lot of money in the years since he rose to fame, but the ways\u00a0he lost it varied from surprising to comical. One night after partying too hard Tyson realized he had misplaced some of his cash –\u00a0$1 million, in fact. Someone who worked for him eventually found it, but the story clearly shows how much trouble Tyson had keeping track of his cash.<\/p>\n

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Filed Under: Popular<\/a> Mike Tyson<\/a>Entertainment<\/a>Celebrities<\/a>Celebrity Trivia<\/a><\/span><\/span><\/p>\n

https:\/\/www.ranker.com\/list\/how-mike-tyson-went-bankrupt\/hugh-landman<\/p>\n","protected":false},"excerpt":{"rendered":"

How Mike Tyson Made $400 Million Yet Still Declared Bankruptcy Hugh Landman The Mike Tyson bankruptcy might not<\/p>\n","protected":false},"author":1,"featured_media":24412,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cybocfi_hide_featured_image":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[129,349,1],"tags":[],"series":[],"class_list":["post-24410","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-english-section","category-suu-tam-collections","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/posts\/24410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/comments?post=24410"}],"version-history":[{"count":1,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/posts\/24410\/revisions"}],"predecessor-version":[{"id":24411,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/posts\/24410\/revisions\/24411"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/media\/24412"}],"wp:attachment":[{"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/media?parent=24410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/categories?post=24410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/tags?post=24410"},{"taxonomy":"series","embeddable":true,"href":"https:\/\/hahosa.com\/vnsalvation\/wp-json\/wp\/v2\/series?post=24410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}