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Q: Need Details of Mike Tyson's Extravagant Spending and Wasting ( Answered 4 out of 5 stars,   0 Comments )
Question  
Subject: Need Details of Mike Tyson's Extravagant Spending and Wasting
Category: Sports and Recreation
Asked by: chazb-ga
List Price: $5.00
Posted: 09 Sep 2004 11:31 PDT
Expires: 09 Oct 2004 11:31 PDT
Question ID: 398947
Looking for details such as:

In 19xx, Mike Tyson was worth $XX. At one point he was getting paid $X
a fight, and earned over $XX in the period from 19xx to 19xx.

He spent $X million on a home, $X for a watch, and $x for XXX.


He is now $XX in debt, which means he has $xx less that the average
resident of yyy (the world's poorest country).
Answer  
Subject: Re: Need Details of Mike Tyson's Extravagant Spending and Wasting
Answered By: juggler-ga on 09 Sep 2004 12:05 PDT
Rated:4 out of 5 stars
 
Hello.

An article in the Washington Post has exactly the sort of details that you request.

The Punch Line? A Knockout Debt
After Squandering $400 Million, Tyson Returns to Ring
By Mark Schlabach
Washington Post, Saturday, July 24, 2004; Page D01 
http://www.washingtonpost.com/wp-dyn/articles/A10290-2004Jul23.html

Specifically:

"According to U.S. Bankruptcy Court records, Tyson is $38 million in
debt after blowing an estimated $400 million fortune.
According to court records, Tyson was down to his last $1,250 in cash
three months ago."
http://www.washingtonpost.com/wp-dyn/articles/A10290-2004Jul23.html

"When his star was at its zenith, Tyson employed as many as 200
people, including bodyguards, chauffeurs, chefs and gardeners."
http://www.washingtonpost.com/wp-dyn/articles/A10290-2004Jul23_2.html

'Tyson spent nearly $4.5 million on cars and motorcycles, $3.4 million
on clothes and jewelry and $7.8 million on "personal expenses."
...18-carat gold dial, encrusted with 16 diamonds, for $245,000...
$173,706 for a gold chain lined with diamonds, and a rug store in New
York $78,000 for home furnishings.
...Tyson spent $140,000 on his two white Bengal tigers and $125,000 a
year for their trainer. He spent $2 million on a bathtub for his first
wife, actress Robin Givens, and $410,000 on a birthday party. Tyson
spent $230,000 on cell phones and pagers during a three-year period
from 1995 to '97.'
...
Tyson's homes were infamously flashy. He spent at least $15 million on
five homes...
http://www.washingtonpost.com/wp-dyn/articles/A10290-2004Jul23_3.html


Other details from ESPN:

"In his comeback that started in August 1995, Tyson earned $112
million for six fights."
http://espn.go.com/classic/s/Tyson_Mike_add.html

----

As for how Mike Tyson stacks up against the world's poorest people... 
Well, I'm afraid that it looks like a knock-out.  With $38 million in
debt, Tyson is about $38 million poorer than the poorest people in the
world.

It appears that in at least one month last year, Tyson earned about
half as much as the average resident of Sierra Leone, the world's
poorest country.

"According to his bankruptcy papers, Tyson earned $5.58 in November.
Guess the paper route isn't working out."
http://www.sunherald.com/mld/sunherald/sports/7957865.htm

$5.58 for a month is about 19 cents per day.

Per capita income in Sierra Leone is 41 cents per day.

"In Sierra Leone, the world's poorest country, average per capita GDP
is US$150 per year, 41 cents a day."
http://www.greenleft.org.au/back/2000/412/412p23c.htm

----------
search strategy:
"tyson earned" million bankruptcy

I hope this helps.
chazb-ga rated this answer:4 out of 5 stars
Excellent answers! Good job, and fast too!

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