$10 Million Worth Mike Tyson Admitted to Spending Nearly $500000 on Marijuana Every Year

Published 08/25/2022, 12:00 PM EDT

Boxing legend Mike Tyson has been an advocate of marijuana for a long time. After the drug received legal status in the United States, The former heavyweight champion is often seen consuming it on his podcast and in other interviews.

This led many to wonder exactly how much marijuana Iron Mike consumes on a regular basis. The fans got their answer back in 2019 when Tyson admitted he spent outrageous amounts of money on the drug. In an episode of his podcast, aptly named “Hotboxin’ Tyson asked co-host and former NFL player Eben Britton the amount they spend on marijuana. “What do we smoke a month? Is it $40,000 a month?” said Tyson. Britton then revealed that they smoked almost 10 tons a month on Tyson’s ranch.

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If Tyson did spend $40,000 a month, it would cost him $480,000 in a year to buy the psychoactive drug. However, this doesn’t seem to be a huge problem for Iron Mike. He has heavily invested in the booming marijuana business that has contributed to a large chunk of his $10 million dollar net worth.

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Tyson has managed to get back on his feet financially after he declared bankruptcy back in 2003. He was able to use his image to earn a few roles in movies and finally start his own podcast. The podcast is now one of the most popular ones on YouTube also earning Tyson a few bucks along with some new fans.

The cannabis business of Mike Tyson

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Tyson has been in the cannabis business since its inception. It is reported that he earns around $620,000 a month from this business. Moreover, he plans to open a 418-acre weed-themed holiday resort. This will include a luxury hotel and the lure of ‘glamping’ tents. Moreover, he claimed that there will also be a dedicated teaching program for the cultivation of marijuana.

Iron Mike also launched a premium cannabis brand named Tyson 2.0 back in 2021. The brand has reached 24 states across the US and is only growing by the day. In addition to this, the brand is also planning an international expansion with a partnership to distribute in Canada in the works.

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Do you think Tyson spends too much on cannabis? Let us know in the comments.

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Written by:

Sahil Sood is a Boxing writer at EssentiallySports. He earned his Bachelor’s degree in journalism and mass communication, and holds a keen interest in the 'sweet science'. His journey towards following boxing began when he first saw the highlights of Mike Tyson as a teenager, and then closely followed the rise of Floyd Mayweather.

Edited by:

Ajinkya Aswale

$10 Million Worth Mike Tyson Admitted to Spending Nearly $500000 on Marijuana Every Year

The cannabis business of Mike Tyson

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