Mike Tyson Used To Travel With $100,000 Cash on Him at All Times — and Gave Away a Lot of It
Mike Tyson’s stories of reckless spending during his prime years never get old. Being one of the best boxers to ever put on gloves, he earned an insane amount of money and loved to spend it in peculiar ways. From $7 million necklaces to gold bathtubs and 150-foot yachts, Tyson never spared a dime on the finer things in life.
But along with his need to purchase ridiculously expensive items came his desire to give his money away. Known for being extremely generous with his funds, Tyson often gave away thousands of dollars to people in need. No matter what the situation might have been, if you need some cash and Tyson had it, he would surely break you off some.
Tyson earned more money than most athletes
Tyson was able to afford all of his outrageous purchases thanks to the massive income provided by boxing. Over the course of his career, he earned around $400 million according to Forbes, and had many endorsements from major brands like Pepsi.
One may wonder how a boxer was able to earn so much, but it all came down to Tyson’s watchability. He dominated the sport, holding the heavyweight title multiple times and had an impressive 50-6 record. He became known for his entertaining knockouts, with 44 of them in total. Before long, he became such a draw for television networks that his pay-per-view matches attracted millions of viewers.
Because everyone wanted to watch what he was going to do in the ring, Tyson was able to make a massive haul from his televised matches.
He enjoyed spending his money on whatever he liked
No matter what it might have been or how much it cost, Tyson was never afraid to drop major coins on an item he wanted. He had a high taste level and purchased many lavish possessions, which included designer clothes, tons of jewelry, dozens of cars, and a massive 52-bedroom property in Connecticut.
Mike Tyson always traveled with $100,000 and gave most of it away
Tyson’s generosity has been recounted on numerous occasions by both celebrities and the general public. He owned dozens of cars and was documented to have given away 17 of them at the peak of his career, but he also loved to hand out cash. During a recent interview on his Hotboxin’ podcast, he spoke with Mike Epps about giving away to anyone who had an expense they couldn’t afford. To keep them from pressing charges, he would even give money to people he had altercations with
“I used to travel with at least a $100,00 me, just spending money,” he said. “[I’d] just pull it out … ‘Is there a problem?’ Somebody having some problems, a m—– f—–r pressing charges … hey, everything okay? Boom, everything’s cool. It was crazy back then.”
Although he was flying high for a time, Tyson’s reckless spending eventually caught up with him. By the late ‘90s, he’d gotten into several controversial incidents that had hurt his marketability, and his career was beginning to see a downturn. He had excessive expenses that included over $400,000 per month on pigeons and tigers and was forced to file for bankruptcy in 2003.