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Tyson has $5000 in the bank

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posted on Feb, 10 2004 @ 12:12 PM
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How the mighty have fallen.....

www.smh.com.au...
February 11, 2004

New York: Mike Tyson, who earned more than $US200 million ($257m) during his professional career, had $US5553 left in cash on December 31, according to papers filed with the US Bankruptcy Court.

Tyson, who filed for bankruptcy protection in August, also had $US174,000 in property and equipment and more than $US10.2m in liabilities at the end of 2003.

The former world heavyweight champion reported earning $US720,018 and spending $US85.50 in December, and earning $US5.68 and spending $US22,000 in November.

Tyson hasn't fought since knocking out Clifford Etienne last February, earning $US5m for the fight. He has a 50-4-2 career record and became the youngest heavyweight champion in 1986 at the age of 20. He lost his undisputed title to James "Buster" Douglas in 1990 and spent three years in prison after a 1992 rape conviction.

Tyson regained the World Boxing Council and World Boxing Association titles in 1996 with victories over Frank Bruno and Bruce Seldon. He lost the WBA title in 1996 to Evander Holyfield and was disqualified in the rematch for biting Holyfield's ear.

An adviser to Tyson said the boxer might fight in May or June in an effort to pull himself out of debt, the New York Daily News reported on Monday.




posted on Feb, 10 2004 @ 12:13 PM
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He burned through $5 million in one year? Wow!



posted on Feb, 10 2004 @ 12:14 PM
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that's a shame :tsk:

who would have thunk it?
I'm richer than Mike

(a certain dave chapelle phrase comes to mind, but I'll refrain)



posted on Feb, 10 2004 @ 12:19 PM
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hell i burned through 5 mill in one year( its not as hard as u think ).. i definenately never had 257 million .... if i did .... LOL
and i wont refrain

IM RICH BIATCH!!!!!!!!!!!!



posted on Feb, 10 2004 @ 12:26 PM
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Canadacan,

you burned thru $5 million? you serious? what the hell did you spend it on?



posted on Feb, 10 2004 @ 12:47 PM
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These highly paid celebrities and professional athletes who get paid wads of cash just don't realize what it means to be content.

If I had even 3 milliion dollars, I'd be set for life!



posted on Feb, 10 2004 @ 01:22 PM
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Not if you had Don King anywhere NEAR you.



posted on Feb, 10 2004 @ 01:40 PM
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Mike Tyson got used to living the good life, but forgot to save. He has kids to support, I'm sure his ex-wife took him for millions. I wonder what that divorce cost him?



posted on Feb, 10 2004 @ 01:49 PM
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mike tyson has to be an alien



posted on Feb, 10 2004 @ 01:52 PM
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I wish I had $5000!
Think of the possibilities.



posted on Feb, 10 2004 @ 02:19 PM
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Mike Tyson actually has a lot more than that. A client of mine has a lien against Tyson's home here in Vegas for failure to pay for some remodelling on his house. And because of that, I get to see Tyson's bankrupty schedules.

Tyson actually has more money that what the bankruptcy court records show. He has several companies in which his money cannot be touched.



posted on Feb, 10 2004 @ 02:44 PM
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Serves him right! The guys a fruit who can fight, nothing more, everything less.

Deep



posted on Feb, 10 2004 @ 07:04 PM
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I think Mikey should become a wrestler.



posted on Feb, 10 2004 @ 07:12 PM
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I cant believe he blew all his cash.....


he had millions apon millions now he in debt....million apon millions......


how sad.....

what a dumb arse.

I hate breakin a 50 or 100 dollar bill because it seems to go....

In mike case he breaks a million and its all gone.....

I guess same logic applies right?....



posted on Feb, 10 2004 @ 07:32 PM
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well...thats what he gets for biting someones ear off



posted on Feb, 10 2004 @ 08:22 PM
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wasn't mike tyson a guest wrestler in the wcw? i heard somewhere, probably tv, that he spent about $20k a day, kinda like the other mike.



posted on Feb, 10 2004 @ 08:47 PM
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OJ was the smart dude, setting up a trust that no one could touch, giving him $25,000 a month. Not much for the super rich, but enough to keep the wolf from the door somewhat better.

When entering into wealth like prize fighting, the moral of the story is apply a formula somewhat like this: set up an impervious fund, live on one third of the interest, and plow the rest of it back into the fund. Also you must diversify!

[Edited on 10-2-2004 by SkipShipman]



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