Mike Tyson earned almost $500million for his legendary boxing career but admitted he blew it all in just 15 years.
Former undisputed heavyweight champion Tyson, who is considered one of the best fighters of all time, enjoyed an illustrious career in the ring but had little to show for it after blowing all his earnings. 'Iron Mike' estimated that he earned almost $500m across two decades in the ring. But Tyson, who turned 56 last week, admitted he used to do "crazy s***" with his fortunes and that he spent his last $1m on rehab.
"When you're making that much money it lasts for a long time," he said on The Pivot podcast. "That didn't die right away, it took like 15 or 16 years to go broke. I'm throwing s*** like 'hey baby, you like that car? Ok you come and spend the weekend with me', just crazy s*** you can do with your money.
"I spent the last money that I had from fighting on rehab, around a million bucks. I had enough money left like two million dollars and I bought a house in Phoenix. The house was difficult to sell, but somebody loved it and boom they gave me the money. This is god working.
Tyson admitted he also borrowed money from a man in China to buy a mansion after moving out of his house in Las Vegas. Whilst reflecting on the money he made from boxing, Tyson said that the worst thing he could do for his eight children would be passing down his fortune.
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"To pray the most and to work the most," Tyson said when asked what he should pass down to his children. "Be the hardest worker and believe yourself, I can't help them by giving them money. I can only hurt them if I give them money. They have to learn because if they don't have no aspiration and they don't experience no adversity, under the slightest struggle they are going to give in."
The legendary heavyweight has stayed in the gym in recent weeks ahead of a potential exhibition clash against YouTube star Jake Paul. Tyson showed that his power has continued to hold up at the age of 56 after leaving his coach Rafael Cordeiro with a bust lip in a frightening display of his power.
