‘Reckless’ Mike Tyson spent $5 million in one week to buy ‘nothing’

Heavyweight boxing legend Mike Tyson recently discussed his past habits of unnecessary money-spending during his prime.

‘Reckless’ Mike Tyson spent $5 million in one week to buy ‘nothing’

Mike Tyson talks about spending money (Image via Imago/X)

Mike Tyson is widely regarded as one of the most dominant boxers and was once the highest-paid boxer as well. Throughout his career, Tyson is thought to have earned over $200m, and he was known for his extravagant spending habits. However, recent revelations suggest that Mike Tyson once recklessly spent around a million dollars in a week.

During their careers, many professional boxers are accustomed to living a luxurious lifestyle. While some manage their earnings prudently, others tend to spend their income extravagantly. In a recent interview, Mike Tyson candidly discussed his lavish money-spending habits during his prime years in the sport. As such, he reflects on his reckless handling of money during that time.

Five million dollars might go in a couple of days, yeah. I’m a big spender… No, not now but when I was a young kid $5million might go in a couple of days… (Asked if he regretted it) Never! I had such a great time.

Mike Tyson via Jimmy Kimmel Live
YouTube video

Throughout the late 1980s and 1990s, he was the most prominent pay-per-view star in boxing, earning over $20 million per fight. However, his career began to decline as the new millennium approached. In 2003, Tyson declared bankruptcy with debts totaling $17 million.

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After suffering two significant losses and facing financial difficulties, Tyson retired in 2005. In retirement, Tyson recouped his wealth with celebrity appearances, movie roles, and partnerships. He even became a cannabis mogul with earnings of around £500,000 per month through marijuana products he sells. Moreover, Tyson made a shock boxing comeback in 2020 for an exhibition with fellow great Roy Jones Jr.

Four years after the exhibition with Jones, the heavyweight icon is back again. He is due to face YouTuber-turned-boxer Jake Paul on November 15 in Texas. Many people claim this might be another greedy-money fight for Tyson. Meanwhile, the boxing legend refutes those claims.

Mike Tyson claims ‘money’ isn’t the factor for fighting young Jake Paul

The clash between Jake Paul and ‘Iron Mike’ has attracted controversy due to the age gap. The initial bout between the two was called off due to Tyson’s sudden ulcer flare-up. Even after that brief setback, Tyson is adamant about fighting his 27-year-old opponent. Interestingly, several individuals drew up theories, claiming Iron Mike might want to be a part of big payday again.

Jake Paul and Mike Tyson face-off
Jake Paul and Mike Tyson face-off (Image via X)

Mike Tyson has explicitly stated that his motivation to fight Jake Paul is not driven by financial gain. It is rather by his desire for excitement and risk in his life. Moreover, Tyson also emphasized that his successful cannabis business provides him with financial stability. As such, he is not pursuing this fight with Paul solely to earn substantial money.

That’s bullsh*t to me. I’m a man. I want to go out there and I want to expose myself to risk. Sometimes I want to see who I really am. I want to see what I’m really made out of. I want to perform in front of the world… This fight is not going to change my life financially enough. This is just what I want to do.

Mike Tyson while commenting at a Cage Wars MMA event

As for Paul, this matchup against Tyson would be one of the grandest fights. According to Paul, a win against ‘Iron Mike’ might raise his stature in the realm of professional boxing. That being said, it remains to be seen who comes out on top on November 15.