Mike Tyson blows entire $21 million payday from Jake Paul fight
Mike Tyson, who has previously filed for bankruptcy, was paid a fortune to fight Jake Paul. A few months later the money is gone.
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Mike Tyson wasted no time in splashing his prize money from his infamous fight with Jake Paul by snapping up a $US13 million ($A20.6 million) megamansion in Florida.
The 58-year-old boxing legend was left seemingly dumbfounded after he lost his bout against Paul, 27, which was broadcast live to the world on Netflix in November.
Despite losing the 16-minute match, Tyson reportedly pocketed a $US20 million ($A31.8 million) paycheck for his return to the ring.
According to Forbes, Paul was the A-side of the fight purse and walked away with $US40 million.
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The splurge, just a few months after his obscene payday, comes on the back of a series of financial blunders the former heavyweight world champion has previously made.
The man known a “Iron Mike” in 2003 filed for bankruptcy after blowing his entire $A580 million fortune.
The “Baddest Man on the Planet” bounced back after having debts of around $33m at one point.
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It’s why his mansion property purchase has raised eyebrows for more than one reason.
According to Realtor, the sprawling six-bedroom property sits on a 2.7-acre plot in an exclusive gated community called Tierra del Ray Estates.
It was originally listed for just under $US17 million ($A27 million), when it was still in the process of being built, realestate.com.au reports.
Construction was completed at the end of 2024, and property records show that Tyson and his wife, Lakiha, closed on the home on January 9, 2025.
According to its original description, the home boasts a staggering number of amenities, including a “one-acre private bass pond that is ideal for fishing,” as well as an 80-foot swimming pool and spa, and a separate guesthouse.
The main residence on the sizeable lot features five bedrooms, while the guesthouse adds another to the property’s total.
There is also a newly renovated and airconditioned barn that boasts “impact windows” that are designed to withstand hurricanes.
Other ultraluxe amenities include a home theatre, gym, “haircut lounge,” prep kitchen, wine storage, and four-car “extra deep” garage designed to accommodate car lifts.
Broker Joseph Jonathan Schneider, who represented Tyson in the deal, confirmed to The Palm Beach Post that his client had bought the home off-market, adding that it had been a “pleasure” working with the boxer and his family.
“This has been a successful transaction with all the parties demonstrating professionalism and collaboration,” he said.
“The Tyson family has been a valued client and friend for many years and it’s been a pleasure working with them.”
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The exclusive Tierra del Ray Estates community is known to locals as the “Land of Kings,” according to its website, which reveals that the neighbourhood is home to just 78 parcels of land.
“Each estate and ranch resides on a minimum of 2.5 acres,” the online description continues.
“The majority of the Land of Kings homesites reside on five acres or more, with sprawling water and scenic views that create tranquillity and security when you enter our majestic community.”
It adds that the “exceptional community” offers the “ultimate in exclusivity and privileged lifestyle.”
And that’s not the only property he’s purchased in the Del Ray area of late. Records indicate that he and his wife also snapped up a 2.26-acre plot located inside a private airpark just 10 minutes away from his decadent new dwelling.
That property — which was purchased in May for $US1.69 million ($A2.6 million) — features a small cottage that is attached to a private aeroplane hangar and offers access to the airstrip that it sits beside.
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This not only gives Tyson and his spouse the freedom to jet in and out of the Palm Beach enclave freely (and privately), but it also provides them with a location where they can store a private jet.
It’s unclear whether Tyson plans to use his new home as his primary residence, having previously based himself at a six-bedroom, six-bathroom mansion in Henderson, Nevada, which he purchased for $US2.5 million in 2015.
Tyson also once owned an estate in Southington, Ohio, which he was forced to sell after a spate of financial and legal problems in the late 1990s.
He offloaded it for just $US1.3 million to a TV marketer who never actually moved into the house because he’s currently serving time for money laundering.
How Mike Tyson blew his fortune
Mike Tyson is a changed man to the one that went off the rails towards the end of his career.
During his 1990s peak, Tyson was one of the most famous men in the world, having conquered the heavyweight division.
And he certainly enjoyed the spoils of his success, throwing lavish parties and revelling in the taste of glory, news.com.au reports.
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These bashes included his 30th birthday party, attended by a star-studded 700-strong guest list including future US President Donald Trump – with the night setting him back a whopping $580,000.
He also built quite the car collection, including the rare Lamborghini LM002 — worth over $180,000 factoring in inflation.
Tyson bought a Cadillac Escalade and Hummer H2 – adding another $250,000 worth of motors to his collection.
It wasn’t just big SUVs that joined his fleet, however, as he also purchased a $720,000 Bentley Continental SC.
Overall, it’s estimated that Tyson spent more than $6.3m on his luxury car collection.
In addition to his wheels, Iron Mike collated an even more impressive collection of luxury mansions. These included a giant estate in Connecticut that he bought for $4m … and 18 months later unsuccessfully tried to sell for $32m.
The property included 24 bathrooms, a four storey elevator, swimming pool, cinema room, disco and NBA standard outdoor basketball court.
The property included 24 bathrooms, a four storey elevator, swimming pool, cinema room, disco and NBA standard outdoor basketball court.
Tyson treated ex-wife Robin Givens to an infamous $3m solid gold bathtub, enabling her to relax in style – but burning what would be a rather deep hole in the pocket of most athletes.
Even more infamous than that, were his two pet tigers, which set him back $100,000 each.
Parts of this story first appeared in Realtor and was republished with permission.
Originally published as Mike Tyson blows entire $21 million payday from Jake Paul fight
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