Mike Tyson and Evander Holyfield were two of the best to ever step in the ring. The two may have stepped into the ring as enemies for their infamous 1997 match that ended when Tyson bit off a piece of Holyfield’s ear, but they actually had far more in common than most people realize; both boxers had multiple reigns as heavyweight champion and both made huge sums of money over the course of their career.
However, another thing the former champions have in common is that they both burned through hundreds of millions of dollars thanks to reckless spending, poor financial management, and hangers-on.
Tyson and Holyfield both ended up filing for bankruptcy in order to get their finances back under control, but who has the higher net worth today?
Mike Tyson and Evander Holyfield made over $1 billion in combined earnings
In their primes, Tyson and Holyfield were two of the most exciting boxers to watch on TV. They drew huge ratings for pay-per-view providers, and networks paid them ridiculous sums of money for the rights to air their matches.
Even though both boxers earned an unbelievable amount of money over the course of their careers, Tyson earned significantly more than Holyfield. According to Forbes, Tyson received $400 million from his must-watch boxing matches but also earned another $200 million from endorsements.
Holyfield, on the other hand, earned approximately $560 million in career earnings, according to The Independent. When their infamous “Bite Fight” took place in 1997, both boxers were compensated more than $30 million for the bout.
And while both boxers earned hundreds of millions in a short amount of time, neither had a dollar to spare when it was all said and done.
Both boxers filed for bankruptcy due to poor financial management
Aside from their powerful punches, Tyson and Holyfield were also known for their lavish lifestyles. Both boxers loved to spend their hard-earned money on expensive—and oftentimes, outrageous—items that immediately began to depreciate in value.
Tyson, arguably the more notorious money-waster, has dozens of stories about the ridiculous ways he spent his cash in his prime. The troubled boxer gave away 17 of his cars to family and friends, bout a $7 million diamond necklace, purchased a gold bathtub, and bought over 1,000 pigeons.
Holyfield knew how to spend his money too, however. “The Real Deal” took out a $14 million mortgage and bought a massive, 109-room estate in the Atlanta suburbs, according to Sportscasting.
Tyson ended up filing for bankruptcy in 2003, owing $60 million in debts. Holyfield was also declared bankrupt after he let go of his home, memorabilia, jewelry, cars, and more to cover his debts.
Mike Tyson currently has a higher net worth than Evander Holyfield
Years later, Tyson and Holyfield are in a better place financially. Although neither of them has anywhere close to hundreds of millions they once had in their bank accounts, they’re still able to make good money by doing paid appearances.
Celebrity Net Worth estimates Tyson’s net worth to be approximately $10 million, while Wealthy Gorilla estimates it’s closer to $3 million. Wealthy Genius estimates Holyfield’s to be approximately $500,000, far less than his formerMike Tyson Once Sailed On His 150-Foot Yacht For So Long He Was Unable to Walk on Land Afterward rival.
If nothing else, Tyson and Holyfield’s stories are cautionary tales about the consequences of financial illiteracy.
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