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Revealed: How Mike Tyson earned and squandered a $300 million fortune

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tyson mikeIn his prime, Mike Tyson was one of the most celebrated athletes of all time. Through out the ’80s and ’90s, there wasn’t a professional boxer in the world who held a candle to his razor sharp precision. His trademark right hook, uppercut combo knocked out the biggest names in the sport, earning him the nickname “Iron Mike.” With the distinction of being the youngest heavyweight-boxing champion in history, he pulled in a $300 million fortune. But over the years, Tyson’s boxing career unraveled and he became better known for his antics outside of the ring. Arrested 38 times since 1986 for everything from DUI to rape, the once-undisputed heavyweight champion of the world made fans believe he was down for the count. But after retiring from boxing in 2006, a down-and-out Tyson began to make a name for himself in Hollywood. In 2008, he was the subject of the stirring, self-titled documentary, Tyson. One year later he received praise for his comedic cameo in The Hangover (2009), and again in its sequel, The Hangover Part II (2011). He recently took on a short stint as a reality star in Animal Planet’s, Taking on Tyson (2011), which chronicled his interest in pigeon racing. Today (April 13), the 45-year-old will return to the MGM Grand in Las Vegas for six days to take the stage at the Hollywood Theater, where he’ll star in an 80-minute, one-man show about his storied past called Mike Tyson: Undisputed Truth—Live on Stage. From jail cells to the big screen, BlackEnterprise.com Decodes the prominence of the former champ from his heyday to now, examining the bouts and endorsements that made him a multi-million-dollar superstar athlete, and the reckless decisions that marred his life and stripped him of his fortune. “I never saw my mother happy with me and proud of me for doing something. She only knew me as being a wild kid running the streets…Professionally, it has no effect, but it’s crushing emotionally and personally.” Tyson was a troubled youth, who sought solace in the hardscrabble streets of Bedford-Stuyvesant, Brooklyn. His father abandoned the family when Tyson was two-years-old, leaving his mother to struggle as a single parent. By 13-years-old, he was already a juvenile delinquent with a full rap sheet. Tyson was eventually sent to the Tryon School for Boys in Upstate NY. It was at this reform school that he met ex-boxer Bobby Stewart, who introduced him to Cus D’Amato, the man who became Tyson’s first role model, boxing mentor, manager and legal guardian. Under the tutelage of D’Amato, Tyson began a meteoric rise to stardom. As an amateur fighter, he won a gold medal at the 1982 Junior Olympic games. On March 6, 1985, Tyson held his first fight as a professional boxer—he won all 15 bouts he had that year. The next year, Tyson lost his mentor and father figure to pneumonia, but the promising up-and-comer used his grief to his advantage. He pummeled every opponent who stepped foot in the ring with him, including Trevor Berbick, who lost his heavyweight title to Tyson when he was knocked out in the second round. Soon the Kid Dynamite clinched the coveted World Boxing Council (WBC) belt, making him the youngest heavyweight champion in the history of the sport at 20-years-old.   “I’m the biggest fighter in the history of the sport. If you don’t believe it, check the cash register.” At the top of his game, Tyson beat James Smith and Tony Tucker, winning the World Boxing Association (WBA) and International Boxing Federation (IBF) titles, respectively, in 1987. As a result, Tyson made an estimated $50 million from his matches, and the endorsement deals started to pour in. Tyson was tapped by then-Nintendo president Minoru Arakawa to create Mike Tyson’s Punch-Out!!, which sold over two million units worldwide, and is now regarded as one of the best video games of all time. According to the L.A. Times, Tyson was “demanding two million dollars per fight in 1987, and earned $35 million in boxing purses in 1988.” He made millions more in endorsement deals with PepsiEastman Kodak andNintendo. That same year, having already won 34 bouts in a row (30 of which were knockouts) and seven world title wins in 16 months, the 5’10”, 218-pound behemoth knocked out Michael Spinks in what is widely regarded as the most dominate performance of his career. The bout was deemed the richest fight in history at the time, and earned Tyson a record purse of $22 million. “It wasn’t a good place for me. I don’t think I should have been there. That’s a place where you have no boundaries. You’re restricted, but you lose your moral fiber.” Tyson hit the ground running with a vengeance when he got out of prison in 1995. He won his first two fights with ease, including an 89-second bout against Peter McNeeley, which grossed more than $96 million worldwide and was purchased by a record 1.52 million households. On November 9, 1996, Tyson foughtEvander Holyfield, who was defending the WBA heavyweight title. The bout was six years in the making and billed as “Finally” on the fight card. Audience interest was high; the matchup garnered 1.59 Pay-Per-View buys. The world watched to see if Tyson could reclaim his title as the heavyweight champion.  But despite the odds placed on the fan favorite, Tyson was outfoxed by Holyfield, losing the fight in the 11th round by a TKOcall from the referee. Pit against each other seven months later, Tyson took home $30 million, while Holyfield nabbed $35 million, making this the largest single-event payday for any athlete or entertainer.  Spectators in 1.99 million households tuned in to see the event, which grossed $102 million in revenue. The fight became one of the most controversial events in sports when Tyson was disqualified in the third round for biting off a piece of Holyfield’s ear, resulting in the boxing commission withholding $3 million of Tyson’s purse. His next big fight came in 2002 against Lennox Lewis. The bout gave Tyson yet another chance to reclaim the heavyweight title, and generated $106.9 million in revenue. It was purchased for viewing in 1.95 million homes, setting a Pay-Per-View record. Tickets ranged from $500 to $2,400 a pop. Tyson lost the fight to Lewis in the eighth round and had to cough up $335,000 for biting Lewis’ leg during a pre-fight brawl a few months earlier. After living in a $4.5 million mansion, and spending approximately $400,000 a month, Tyson filed for bankruptcyin 2003. According to The New York Times, the fallen pugilist’s debts totaled over $20 million, for everything from $173,000 diamond chains to having $13 million in back taxes and $51,000 in unpaid child support. A NEW BEGINNING “This guy’s so unpredictable. You don’t know if he’s going to take you out to dinner or stab you with a fork.” In an attempt to reinvent his tattered image (and pay his bills), Tyson took to Hollywood for a career in acting.Tyson, his self-titled documentary, debuted at the Cannes Film Festival in 2008 and received a 10-minute standing ovation. The film was released in the U.S. in April 2009, and went on to gross almost $1 millionworldwide. That same year, Tyson tickled funny bones in the blockbuster comedy, The Hangover; he was reportedly paid $100,000 for his small cameo role. 2011 proved to be a busy year for the comeback kid. Tyson made $200,000 for his work in The Hangover Part II, and launched his reality show, Taking on Tyson, which explored Tyson’s love of all things pigeons, including auctions, rearing and competitive racing. The show’s premiere ratings were below average with only 560,000viewers Tyson continues his renaissance this month at the MGM Grand’s Hollywood Theater in Las Vegas as he takes the stage for his one-man show, Mike Tyson: Undisputed Truth – Live on Stage. Tickets start at $99, and are reportedly selling well.  If the show is a success, he plans to take it on tour and then to Broadway. Inarguably the most outrageous character in modern sports history, Tyson is on a mission to show the world that just beneath the ferocious, hothead, who lived a life plagued with troubles, is a repurposed man with an inspiring tale of triumph and survival.   by Shydel James]]>

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The Un Certain Regard Jury of the 77th Festival de Cannes

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The Canadian actor, director, screenwriter and producer Xavier Dolan will be the President of the Un Certain Regard Jury of the 77th Festival de Cannes. He will be joined by French-Senegalese screenwriter and director Maïmouna Doucouré, Moroccan director, screenwriter and producer Asmae El Moudir, German-Luxembourg actress Vicky Krieps, and American film critic, director, and writer Todd McCarthy. They will be in charge of awarding prizes for the Un Certain Regard section, which showcases art and discovery films by young auteurs.

This year, 18 films have been selected, including 8 first films. The 2023 Un Certain Regard top prize went to director Molly Manning Walker’s debut feature How to Have Sex.

When the light breaks by Rúnar Rúnarsson will open the Un Certain Regard section on Wednesday May 15, 2024.

XAVIER DOLAN – President
Actor, director, screenwriter, producer
Canada

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An actor since the age of four, Xavier Dolan directed and starred in his first feature film, I killed my mother, which was a big hit at the Directors’ Fortnight in 2009. This was followed by Heartbeats and Laurence Anyways, presented at the Festival de Cannes in 2010 and 2012 at Un Certain Regard, where they were enthusiastically received. In 2013, Tom at the Farm was screened at the Venice Film Festival, where it won the FIPRESCI Prize. With Mommy, he is awarded several prizes, including the Prix du Jury at the 2014 Festival de Cannes and the César for Best Foreign Film. Grand Prize winner at the 2016 Festival de Cannes with It’s only the end of the World, he returns to Competition with Matthias & Maxime in 2019. After a few notable roles with other filmmakers, such as his performance in Xavier Giannoli’s Lost Illusions in 2021, for which he was nominated for a César for Best Supporting Actor, in 2022 he directed the series The Night Logan woke up. Xavier Dolan was a member of the Jury in 2015, and now chairs the Un Certain Regard Jury.

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MAÏMOUNA DOUCOURÉ
Screenwriter, director
France, Senegal

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Her first professional short film, Maman(s), was selected for nearly 200 festivals around the world and won more than 60 awards, including the Jury Prize at Sundance, the Best Film Award in Toronto and the 2017 César for Best Short Film. In 2019, Maïmouna Doucouré receives the Gold Fellowship Award from the Academy of Motion Pictures. Released in 2020, Cuties, her first feature film, wins the Best Director Award at Sundance and a Special Mention from the International Generation Jury in Berlin. The film’s lead actress, Fathia Youssouf, won the César for Best Actress. Her second feature-length film, Hawa, produced in 2022 with Prime Vidéo, was also presented in Toronto. Maïmouna Doucouré is currently working on her next feature film about the legendary Joséphine Baker.

ASMAE EL MOUDIR
Director, screenwriter, producer
Morocco

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Asmae El Moudir studied cinema at the Moroccan University and at La Fémis in Paris. She has directed several award winning short films. She completed her Al Jazeera television documentary, The Postcard, in 2020. The Mother of all Lies is her first independent documentary feature premiered at the 2023 Festival de Cannes where it won the Un Certain Regard Directing Prize. The film also won the Golden Eye for Best Documentary. The film is screened at Toronto, Sundance, Melbourne, Busan, Karlovy Vary as well as many festivals around the world and won more than 25 awards. Asmae El Moudir is nominated for the PGA Award and the Film Independent Spirit Award for Best Doc. Most recently, she won the IDA Award (International Documentary Association) for Best Director. The Mother of All Lies was also shortlisted in the international features section of the Oscars 2024.

VICKY KRIEPS
Actress
Luxembourg, Germany

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An international actress who works in French, English and German, Vicky Krieps has appeared in Joe Wright’s Hannah (2011), Philippe Claudel’s Before the Winter Chill(2013), Anton Corbijn’s  A most wanted Man(2014), Ingo Haeb’s The Chambermaid Lynn(2015), Raoul Peck’s The Young Karl Marx(2017), and starred alongside Daniel Day Lewis in Paul Thomas Anderson’s Phantom Thread(2017). In 2021, she defended two films selected for the Festival de Cannes, Mia Hansen-Løve’s Bergman Island in Competition and Mathieu Amalric’s Hold me tight. The following year, she returned with two young German and Austrian directors in the Un Certain Regard section: Emily Atef’s More than Ever and Marie Kreutzer’s Corsage, which won her the Un Certain Regard Jury’s Best Actress Award in 2022. She will soon be seen in Viggo Mortensen’s The Dead Don’t Hurt and Hot Milkby Rebecca Lenkiewicz.

TODD MCCARTHY
Film critic, director, writer
United States

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Todd McCarthy is a Cannes veteran – his first was in 1970 – who for decades covered the Festival for Variety and The Hollywood Reporter. Among his books are the definitive biography “Howard Hawks: The Grey Fox of Hollywood”, “Kings of the Bs: Working Within the Hollywood System” and “Fast Women” about female race car drivers. He won an Emmy Award for his documentary Preston Sturges: The Rise and Fall of a Hollywood Genius and is currently working on a project set in Hollywood just after World War II.

 

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Kanye West reportedly planning to launch porn studio

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Looks like Kanye West’s religious era is officially over. (more…)

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Additions to the selection of the 77th Festival de Cannes

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CANNES

As announced at the press conference on April 11, here are the films that complete the Official Selection 2024.

UN CERTAIN REGARD

 

WHEN THE LIGHT BREAKS
Rúnar Rúnarsson

NIKI
Céline Sallette
1st film

FLOW
Gints Zilbalodis

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When the light breaks by Rúnar Rúnarsson will open the Certain Regard section on Wednesday May 15.

CANNES PREMIERE

 

VIVRE, MOURIR, RENAITRE
Gaël Morel

MARIA
Jessica Palud

SPECIAL SCREENINGS

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SPECTATEURS
Arnaud Desplechin

NASTY
Tudor Giurgiu

LULA
Oliver Stone

AN UNFINISHED FILM
Lou Ye

OUT OF COMPETITION

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LE COMTE DE MONTE-CRISTO
Alexandre De La Patellière et Matthieu Delaporte

COMPETITION

 

LA PLUS PRÉCIEUSE DES MARCHANDISES
Michel Hazanavicius

TREI KILOMETRI PANA LA CAPATUL LUMII
(Trois kilomètres jusqu’à la fin du monde)
Emanuel Parvu

THE SEED OF THE SACRED FIG
Mohammad Rasoulof

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Eminem celebrates 16 years of sobriety

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Eminem is celebrating 16 years of sobriety. (more…)

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Coachella 2024: DJ Snake (Hip Hop Set) and TroyBoi Play Surprise Sets at Do LaB Stage

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Coachella 2024
Do LaB kicked off its return to Coachella Weekend Two on Friday, April 19 with a couple standout surprise performances and a full lineup of electronic and crossover talent. Check out highlights from the first day of Weekend Two at the Do LaB stage below.

  • Prolific French DJ and hitmaker DJ Snake performed a special hip-hop set as the headlining surprise guest of the night.
  • Versatile trap and hip-hop influenced fan favorite TroyBoi performed as the other Do LaB surprise set of the night.
  • Additional previously announced day one programming featured acts like Juelz, HoneyLiv, CocoRosie, Alleycvt, Yung Singh, and more.

Stay tuned for notifications on announcements, surprise sets, and more by visiting the link here. Set times for the remainder of the weekend can be found here, along with more general info on Do LaB in the press release here. Additional photo selects from each day can be found here (photographer name listed in file name for photo credits).

The Do LaB stage at Coachella provides a preview of the brand’s flagship boutique festival, Lightning in a Bottle. The five day Lightning in a Bottle experience fuses a top tier musical lineup, immersive art installations, cause-driven educational programming, and a variety of yoga and movement programming within a sprawling lakeside venue in beautiful Buena Vista Lake, California.

Taking place over Memorial Day Weekend on May 22-27, LIB 2024’s musical programming highlights include Skrillex, Labrinth, Lane 8, James Blake, M.I.A., Skream, Tycho, ISOxo, Tipper, Fatboy Slim, CloZee, Nora En Pure, Bob Moses, Honey Dijon, Damian Lazarus, and several more.

More info on LIB can be found on their website here and in the official press release here, along with the media application here.

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DaBaby says he went from getting $300K for a feature to $150K after recent controversy

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American rapper, DaBaby has revealed that he now gets half of what he used to get paid for a feature verse after a recent controversy.

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