How Mike Tyson Made $400 Million Yet Still Declared Bankruptcy

The Mike Tyson bankruptcy might not have been exactly surprising, but it is still incredible. Mike Tyson's lavish lifestyle led him to go bankrupt in less than 20 years after becoming one of the wealthiest athletes in the world. But how Mike Tyson went bankrupt is as weird of a story as it is inexplicable. After he went bankrupt in 2003 many asked, how did Mike Tyson lose all his money? 

There's no doubt that part of the explanation lies in the fact that he spent gobs of money keeping up a lavish lifestyle. From exotic pets, like a pair of Bengal Tigers, to a fleet of supercars, Tyson surrounded himself with the finer things in life. However, he says not all of it was his fault. Iron Mike blames boxing promoters and his ex-wife for unscrupulously taking some of his fortune and not looking out for his best interests when it came to his finances. In the end, Mike lost it all and even spent time in prison for rape along the way.

  • Some People Have Cats For Pets, Mike Tyson Had Two Tigers

    Cats are a popular house pet, but Mike Tyson wasn't content just to have any old regular feline friend. No he needed two - two tigers to be exact. Tyson didn't adopt the jungle cats from a friend either, no, he paid $140,000.00 for them. He didn't stop there; in addition to the tigers, Iron Mike hired a trainer who he then paid $125,000.00 per year. That's a lot of money, but is also pretty awesome.

  • He Threw One Big Party

    There are two types of people in the world, those who hate their birthday and those who love their birthday. It is safe to say that Mike Tyson loves his birthday. One way he went broke is by spending $410,000 on a birthday party that he threw for himself. Sure, $400,000,000 would buy you almost 100 parties at that price, but with Tyson's other expensive hobbies and tastes, he went broke well before then. 

  • The Two Million Dollar Bathtub

    How much could a bathtub possibly cost? Clearly, for Mike Tyson, the answer was the sky is the limit. He only wanted the best for his first wife, actress Robin Givens, and that included where she bathed. Mike spent two million dollars on a bathtub for Givens. Sadly, their marriage would last about as long as his massive fortune and the two were divorced on Valentine's Day of 1989.

  • Tyson Spent Millions Of Dollars On Cars

    Mike Tyson certainly had expensive taste, but he also didn't seem to know the value of a dollar. One example of this is his car collection. Iron Mike loved fast cars and had some of the best exotic cars on the market. He owned Lamborghinis and Ferraris as he showed off his wealth and spent his boxing fortune. The most expensive car he had was a Bentley worth nearly half of a million dollars. It featured - this was the 1980s, remember - an in-car phone well before cell phones were popular and cheap.