Former heavyweight world champion Mike Tyson earned hundreds of millions during his professional boxing career but the 55-year-old now has a net worth of just £7million.

At the age of 20, ‘Iron Mike’ became the youngest boxer in history to win a heavyweight world title, and during his career, he amassed a reported £285 million in fight purses. 

Before retiring, he earned more money through endorsements and television appearances, including a multimillion-dollar payment to appear at WWE Wrestlemania in 1998. Tyson made over £300 million during his fighting career, but according to Sportskeeda, the 55-year-old is now only worth £7.6 million.

Despite his massive career earnings, Tyson struggled with financial mismanagement for much of his career, and he filed for bankruptcy in 2003, owing £17.5 million in debts.

Severаl of his fights were hugely populаr pаy-per-view events during his cаreer, аnd his fight purses reflected his populаrity. Tyson’s highest purses for his fights with Lennox Lewis, Bruce Sheldon, аnd Frаnk Bruno аre sаid to hаve totаled £27 million. However, those earnings could not help Tyson avoid spiralling into debt, with his bankruptcy coming just months after his final professional win over Clifford Etienne in 2003. 

Since then, though,Tyson has been able to rebuild his finances, firstly through television and film appearances, including the popular Hangover trilogy.

Tyson also owns a ranch in the USA, named Tyson Ranch, which grows and sells a range of cannabis-based products and is said to sell over £360,000 worth of weed each month.

He also made a boxing comeback in 2020, taking on fellow former boxer Roy Jones Jr. in an exhibition bout, although Tyson has since claimed he is yet to be paid in full for the fight.

Speaking on the FULL SEND podcast in January, Tyson revealed: “Most of it, but there’s still a bunch that’s held up and I can’t even say anything about this. Yeah, it was really tricky.”

Tyson has since teased another boxing comeback and flirted with the idea of fighting YouTubers turned boxers Jake and Logan Paul but no fight has been agreed upon as of yet.