Bankrupt-athlete series: The rise & fall of Mike Tyson

The previous article was focused on South Africa’s  athlete, Oscar Pistorius and his Criminal-Trial where he was found guilty of Culpable Homicide. While unravelling Oscar Pistorius who had core values which major brands liked – that he overcame adversity and had the tenacity to compete as the successful Paralympian, and his early release by the Department of Correctional Services just 1 year into his 5-year Prison Sentence after undergoing 7-month criminal trial which cost him the estimate of 700,000 Pounds Sterling, it is now clear that he will settle back into his new life with some major adjustments that will include entry into the family business of his uncle, 62-year-old businessman Arnold Pistorius who is involved in 107 different companies over the years, in [a] mining, [b] tourism and [c] property.

But what are the prospects of other former multi-million USD net-worth Athletes such as Mike Gerard Tyson [1966-Till Date]. Let’s examine how they are placed currently and whether they can ‘overcome’ their adversity and have the ‘tenacity’, to compete as an athlete or in-demand celebrities.

That according to Forbes-magazine, and ‘New-York Times’ Mike Gerard Tyson [1966-till date], the former professional boxing heavyweight champion [1986-1990] who held the [1] World Boxing Council [WBC) heavyweight championship; [2] World Boxing Association [WBA] title; and [3] International Boxing Federation [IBF] crown earned more than $400 million in his professional boxing career.

However, the News on Mike Gerard Tyson published, and circulated is that Former Professional-Boxing Heavy-Weight Champion [1986-1990] feared as Iron Mike Tyson has spent all of his earnings of more than $400 million that luxury-Homes, luxury cars, and Pet-Tigers. That not only has Iron Mike Tyson spent away all of his wealth, he was reported to have owed $9 million towards his divorce settlement and $13 million to the US tax authority, the internal revenue service [IRS] compelling him to file for bankruptcy in 2003, wherein he claimed debts of $27 million that he could no longer pay.

Re-look into the rise & fall of Mike Gerard Tyson as Heavy-Weight Champion

Mike Gerard Tyson [1966-Till Date] was born in Brooklyn, New York, the USA to the single mother, was the American professional boxer who became the ‘youngest’ heavyweight champion in history at the age of 20.

That Mike Gerard Tyson [1966-Till Date] known [Knowledge] for his explosive power and quick knock outs[KOs], Mike Gerard Tyson dominated [dominance] professional boxing in the late 1980s.

In the 1990s Mike Gerard Tyson [1966-Till Date] career was side-tracked by [1] personal problems and [2]criminal charges, including the [a] rape conviction and [b]imprisonment.

Mike Gerard Tyson [1966-Till Date] was in trouble with the law from the young age.

[A] Sentence to Juvenile Reform-Center [1979]

In 1979 Mike Gerard Tyson [1966-Till Date] was sent to the juvenile-reform-center.

At the juvenile-reform-center, Tyson began boxing and was discovered [Discovery] by Constantine Cus D’amato, who had ‘trained’ [training] heavy-weight champion: Floyd Patterson and light-heavyweight champion: Jose Torres.

[B] Legal-Guardianship by Constantine ‘Cus’ D’Amato [1981]

Constantine ‘Cus’ D’Amato took custody of Tyson [1966-Till Date] and became his legal guardian in 1981.

Mike Gerard Tyson [1966-Till Date] thrived under  Constantine ‘Cus’ D’Amato’s discipline, studying [Study] the history of boxing, and developing [development] the fiercely aggressive style of boxing.

[C] Professional-Career [1985]

In 1985, after just ‘26’ amateur-fights, Mike Tyson [1966-till date] ‘turned’ into professional-BOXER. That Mike ran off the string of ‘15’ straight professional victories that year in 1985 all knock-outs [kos], and ‘earned’ the nickname ‘Iron Mike’.

[D] Death of Constantine ‘Cus’ D’Amato [1985]

However, also in 1985, Constantine ‘Cus’ D’amato died,leavingMike Tyson [1966-till date] without the steadying influence. Controversy and trouble would ‘follow’ the ‘volatile’ fighter during his subsequent career.

Heavy-Weight Champion [1986-1990]:

[1] World boxing council heavy-weight championship; [2] World boxing association title; and [3] International boxing federation crown


In 1986, Mike Gerard Tyson knocked out Trevor Berbick to win the World Boxing Council heavy –weight championship.


In the following year, in 1987, Mike Tyson [1966-till date] unified the world heavyweight title by defeating James Smith for the [2] World Boxing Association title and Tony Tucker for the [3] International Boxing Federation crown.

Although Tyson was criticized for lacking finesse ferocious’ approach and devastating punches ended most fights early.

That from 1987 to 1989 Tyson successfully defended his title ‘6’ times, including the win over former champion Larry Holmes and the ‘91-seconds’ knockout of the previously undefeated Michael Spinks.


Boasting the 37-0 professional record, Mike Tyson suffered the shocking defeat to James Buster Douglas in 1990 and lost his titles.

Rape-Conviction [1993-1995]

That Mike Gerard Tyson [1966-Till Date] recovered to win 4 more professional boxing matches but was convicted of raping the beauty-pageant contestant in 1992. After serving 3 years in the Indiana prison in the US, Mike [1966-Till Date] was released in 1995 and returned to professional boxing.


That following year, in 1996, Mike Tyson [1966-till date] defeated Frank Bruno to regain the [1] World Boxing Council Heavy-Weight championship title. Mike Tyson then knocked out Bruce Seldon in 109 seconds to capture the [2] World Boxing Association title. But later that year, in 1996, he suffered the 2nd loss of his career, the 11th-round knock-out by Evander Holyfield. In the 1997 rematch with Evander Holyfield, Mike Tyson was disqualified in the 3rd round for biting both of his opponent Evander Holyfield’s ears.

 Decline of MIKE TYSON

After being banned from the sport of professional boxing for 1 year, Mike Tyson returned in 1998. Despite further troubles with the law and within the sport of professional boxing — Mike served 3 months in jail in 1999 on the assault charge and several times had trouble getting the license to fight— Mike Tyson won 6 bouts over the next 3 years. In 2002, attempting to become the only heavyweight to hold the heavyweight championship ‘belt’ in three different decades, Tyson lost in the 8th round to heavyweight champion Lennox Lewis.

Mike also struggled with financial problems during his career, suing several of his managers, including powerful and controversial professional boxing promoter Don King.

 Attempted Come-Back: the dream of any Athlete, and his Promoter

In 2004, the Mike Tyson comeback effort failed when he was knocked out in the 4th round by lightly regarded British Fighter Danny Williams.

In June 2005 Mike Tyson ‘lost’ another professional boxing fight against the little-known opponent and announced his retirement from professional boxing.The loss to the little-known opponent left Mike Tyson with the career record of 50 wins & 6 losses with 44 wins by knockout.

 Another Attempted Come-Back: the role of infamous Celebrity who has a story to tell

Presently, Mike Tyson is in the News for his paid and unpaid comments on family upbringing, the role and responsibility of any single-mother when bringing up her child, the state of Professional-Boxing, and on his redemption in the background of religion, and community…

Author- Arjun J.Chaudhuri

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