Mike Tyson Names the One Problem Money Can’t Solve

Published 02/25/2021, 10:30 AM EST
BEVERLY HILLS, CA – JULY 25: Mike Tyson speaks onstage during the “Mike Tyson: Undisputed Truthts” panel discussion at the HBO portion of the 2013 Summer Television Critics Association tour – Day 2 at the Beverly Hilton Hotel on July 25, 2013 in Beverly Hills, California. (Photo by Frederick M. Brown/Getty Images)


Mike Tyson, a face of the retro boxing era, lived his life to the fullest. He was the most animated star in his prime, who became a quintessential hero for every boxing fan. Whilst present-day boxers earn millions for their brand endorsements today, Tyson minted money purely by letting his fists fly within the squared circle.

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‘The Baddest Man On The Planet’ went from rags to riches over the course of his extravagant career. Having experienced both ends of the spectrum, ‘Iron’ Mike feels there’s one problem that even an excessive amount of money cannot solve. On the Hotboxin podcast, Tyson laid his notions on the pertaining juncture.

LAS VEGAS, NV – AUGUST 08: Former heavyweight boxer Mike Tyson speaks during the third annual Nevada Boxing Hall of Fame induction gala at Caesars Palace on August 8, 2015 in Las Vegas, Nevada. (Photo by Steve Marcus/Getty Images)

He said, “This is what some people don’t understand, poverty never goes away. I don’t know how much money you ever get. It doesn’t go away and you think money’s gonna solve everything you can’t solve that your poverty, your degree of poverty blows your mind. Look how much money you get, it just blows your mind.”

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Mike Tyson filed for Bankruptcy in 2003

Tyson approximately earned more than $300 million in his career. But, ‘The Baddest Man On The Planet‘ blew up all that money and filed for bankruptcy in 2003. He owed a magnificent amount of money to several law firms, his finance manager, and more.

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LOS ANGELES – FEBRUARY 11: Boxer Mike Tyson arrives at the premiere of “Against the Ropes” at the Chinese Theater on February 11, 2004 in Los Angeles, California. (Photo by Kevin Winter/Getty Images)

‘Iron’ Mike kept an unusual lifestyle and threw frequent parties for his friends and family. He even kept an enthralling collection of cars and animals, which was symbolic of his lavish lifestyle. However, all that changed two years before his retirement. Hence, as ‘Iron Mike’ aged, he understood the importance of wealth and started building on the same without spending much on unnecessary stuff.

What do you derive from Tyson’s comments?

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Prathamesh Singh Chauhan

887 articles

Prathamesh Singh Chauhan is a Boxing Author at EssentiallySports. He is a graduate from the International Institute of Sports Management who combines his love for sports, particularly combat sports, and his flair for writing and analysis to help him in his day-to-day work. He has prior professional experience with sporting organizations such as Star Sports, Khelo India, and NBA.

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