Mike Tyson Earned $300 Million and Went BROKE

Mike Tyson was the youngest heavyweight champion in history and, according to the AP, earned about $300 million in the ring alone. In January 2004, in a monthly report to a bankruptcy court, he declared an income of $38. Where did the money go for a man who once made as much as $30 million in a single night? The answer starts with the purse, the amount agreed before each fight and the only door the money came in through. On the other side, the household spent through every door: six mansions, 110 cars, white Bengal tigers and a payroll that reached 200 people. Only one of them stepped into the ring to earn the purse. When the ring closed, the payroll kept going. On August 1, 2003, Tyson filed for protection from his creditors in New York. The court-approved plan put the only earner back in the ring: up to seven fights, with each purse already split among creditors, the tax man and his ex-wife. His first fight after the approval was against Kevin McBride, in 2005. Where the sources disagree (the total earned, the size of the debt), the video says who reported it. What do you think: when one person supports two hundred others with money only he can earn, whose fortune is it? Tell us below 🥊 💬 The most-liked comment on this video picks the next story. This channel belongs to you. IMAGES Agency and press photos, archives, public court documents and video clips from various sources online; paintings and illustrations by the channel. #miketyson #tyson #boxing #magnatum CHAPTERS 0:00 The champion: the money came through one door 0:47 The purse: Berbick, 1986 1:38 The house: mansions, cars and a bathtub 2:18 The payroll: tigers and 200 people 3:10 The interlude: prison, the bite and the ring closed 4:10 The filing: the 2003 Chapter 11 5:29 The plan: Phoenix and the seven fights 7:11 The stool: McBride, 2005 SOURCES Associated Press (2003 and 2005, via ESPN, Al Jazeera and Mail & Guardian): the bankruptcy filing, the roughly $300 million earned in the ring and the purse for the McBride fight Washington Post (Mark Schlabach, 2004 and 2005, via NBC News): the monthly reports to the court, the payroll of up to 200 people, the spending and the reorganization plan New York Times (2004), cited by Tom Kirkendall: the $14 million settlement with Don King Fox News and TheSmokingGun: the list of largest creditors and the pages of the bankruptcy filing CNN (1997): the $3 million fine after the bite on Holyfield ESPN (Dan Rafael, 2005): the McBride fight and the quit on the stool Where the sources disagree (the total earned, the debt), the video says who reported it More stories: @pixelude-videos · True cases: @criminis-tv · Stories from around the world: @codexum-tv · Giant structures: @colossum-tv · The richest: @magnatum-tv · The human body: @anatomum · Everyday money: @tributum-tv · Rise and fall: @collapsis-tv