Mike Tyson recalls spending $5M in just a few days: 'I had a great time'

Mike Tyson in his return to the ring in November 2020. Photo by AP

At the peak of his career, Tyson was the highest-paid boxer in the world. In the 1980s and 1990s, the former boxer used to pocket $25 million for a single fight. The Sun estimates that boxing brought in over $300 million for "Iron Mike". Meanwhile, Forbes said that the former heavyweight champion's total career earnings could be as high as $685 million.

However, like many sports stars, Tyson also spent money as quickly as he earned it, on houses, cars and other exotic hobbies. In a recent interview with Jimmy Kimmel, the boxing legend said: "$5 million can be gone in a few days. That's right. I'm a big spender. Not now, but when I was young."

When asked if he had any regrets, Tyson replied: "Never, I had a great time."

Shelly Finkel, Tyson's former manager, told The Sun: "He's one of the few people who I've ever met who I really don't believe that the money matters except for the moment to get him the satisfaction he wants. Whether it be clothing, buying a car for a girl. It's not like, 'Hey, I gotta be wealthy.' It was just the satisfaction at that moment.

"I remember, he'd spend $100,000 in one visit. I saw cars he had that were over $1 million."

In 2003, Tyson filed for bankruptcy with around $23 million in debts. Two years after going bankrupt, "Iron Mike" also announced his retirement from boxing.

Recently, Tyson made headlines when he returned to the ring in the bout with YouTuber-turned-boxer Jake Paul, who is 31 years younger than him, on Nov. 16. After eight rounds, Tyson lost but earned $20 million. Before the fight, he said that he returned to the ring not for money but to reclaim the glory days.