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Years After Losing $400 Million Fortune and Having 2 Failed Marriages, Mike Tyson Makes Brutally Honest Statement

Published 05/07/2023, 4:10 PM EDT

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Mike Tyson has lived a life many can only dream of. From knocking out fierce competitors within a few rounds to having tigers as his pets, the former heavyweight champion truly lived up to his name of the Baddest Man On The Planet”. However, Tyson had some unpleasant phases in his life wherein he lost an enormous amount of wealth, had 2 failed marriages with Robin Givens and Monica Turner, and also served close to three years in prison.

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It is reported that at one point of time during his career, Tyson earned over $400 Million. However, due to reckless spending, he filed for bankruptcy in the year 2003. To make ends meet, he continued competing till 2005, and in his last pro bout he made it evident that he is only competing for financial reasons. Though, Tyson is doing well for himself now, in an episode of his podcast, “Hotboxin’ with Mike Tyson”, he reflected on his topsy-turvy life and gave an honest assessment of what most people are lacking nowadays.

Mike Tyson on the need to have a “competitive spirit” in life


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Tyson is the host of “Hotboxin’ with Mike Tyson” in which he has interesting discussions with notable personalities and celebrities. In one of the episodes, he discussed the need to have a “competitive spirit”.

He stated, Most people are not.. not have the competitive spirit. They don’t believe if they lose everything like for me myself. If I lost everything tomorrow I’ll get it back again.”


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To substantiate his point, he gave his own example. He adds, “I had it four or five times before. I have been broke and rich more than anybody I know. It is all about not giving up.”

Needless to say, Tyson is resilient and the fact that he filed for bankruptcy at one point of time in his life and is now earning millions again, only proves that he is a fighter both inside and outside of the ring. 

Tyson reveals how he went bankrupt


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A lot of speculations have been made as to how and why Tyson filed for bankruptcy. However, Tyson cleared the air by revealing the reason behind how he went bankrupt.

He stated in an episode of his podcast, “The inflation just blows out of proportion. That’s what destroys some fighters. It f***ing killed me. Hey, I thought it could never stop coming. I could never stop buying houses and cars for girls and friends and stuff.


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However, it is safe to say that Tyson is not in the position he was back in 2003. Many consider him an inspiration, but do you think Tyson is a role model for one to look up to? Share it with us in the comments below.

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Written by:

Harddit Bedi


One take at a time

Harddit Bedi is a passionate Boxing writer at EssentiallySports, who specializes in covering the off-court drama of athletes. He has a keen interest in the untold stories of boxers. Harddit is a firm believer in the primal nature of boxing, which he views as the oldest and most fundamental sport known to mankind.
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Edited by:

Arijit Saha