Mike Tyson recently opened up about how he manages his earnings, revealing that his wife, Lakiha Spicer, plays an important role in his financial life.
The former heavyweight boxing champion discussed his approach to money during an appearance on the Fly on the Wall podcast. He also reflected on the financial mistakes that led to his bankruptcy more than two decades ago.
Mike Tyson reveals what he does with all his finances
During the Nov. 5 episode of Fly on the Wall, Tyson, 60, discussed the various opportunities he has received throughout his career.
The former boxer credited his agent with securing commercial appearances, cameos and other professional opportunities.
However, when the conversation turned to his earnings, Tyson jokingly revealed where his money goes.
“I give it all to my wife,” he said.
Tyson then looked toward Spicer, who appeared to disagree with his statement.
“She said it’s not true,” he added.
Following the lighthearted exchange, Tyson reflected on his financial struggles and the lessons he learned from them.
According to Entertainment Weekly, the boxing legend filed for Chapter 11 bankruptcy in 2003 after accumulating approximately $23 million in debt.
Despite earning more than $300 million during his boxing career by that point, Tyson faced financial difficulties related to his expensive lifestyle, divorce costs and mismanagement by former managers.
Looking back, he explained how those experiences influenced his approach to money.
“That’s why it’s so good about starting over because from the first time you learn, then you won’t do it the second time,” Tyson said.
Over the following two decades, Tyson rebuilt much of his wealth. However, he still spends substantial amounts on certain luxury items.
During an October interview with PEOPLE, Tyson revealed that he particularly enjoys purchasing expensive fragrances.
He named AMAFFI as his preferred fragrance brand and estimated that he owns approximately $50,000 worth of its products.
Beyond his finances, Mike Tyson’s wife has remained an important part of his personal life. The couple have been married for more than 17 years and share two children, Milan, 17, and Morocco, 15. Tyson also has five children from previous relationships.
The former boxer previously credited Spicer with helping him navigate difficult periods. In a 2012 interview with the New York Post, he described their relationship as a life-changing experience.
