By Dean Juipe
Mike Tyson may be frivolous in his expenditure, but he has also been ripped off and exploited to the max by supposed friends and business partners. Hence, he and promoter Don King have dueling $100 million lawsuits filed against each other that are finally due to be heard in court next month; Tyson claims he made $112 million while alleging that King (and associates John Horne and Rory Holloway) made $113 million on a series of Tyson fights shortly after he was released from prison in 1995.
When those U.S. District Court papers were initially filed in New York in the King-related lawsuit, Tyson’s specific expenses — as documented by a court-approved accountant — became a matter of public record. Though a bit dated, looking back on them helps explain how a man can make a half-billion dollars and find a way to spend it.
All figures are totals from 1995 through ’97:
$1.3 million in “household expenses” for three residences, including $600,000 for his home in Las Vegas that he retains today without spending much time at it.
$747,000 simply in lawn care for those three estates.
$7.7 million in “cash and personal expenses.” This is his basic “walking-around” money.
$1 million in random gifts, excluding cars.
$4.4 million in automobiles, motorcycles and the like, including 17 vehicles that were given to friends and acquaintances.
$1.7 million in automobile insurance and repair.
$1.7 million in lawsuit settlements, excluding a $300,000 fine paid to the Nevada State Athletic Commission.
$411,000 in pet expenses.
$228,000 in child support.
$1.1 million in doctors’ fees.
$1 million in accounting fees.
$4.5 million in legal fees.
$385,000 in security expenses.
$239,000 in pagers and cell-phone fees.
$600,000 in hotel and travel fees.
$6.8 million in training expenses.
And $375,000 in “miscellaneous” expenses that somehow defied categorization.
Give or take, that’s $35 million he spent in just three years alone and it excludes the actual cost of the three homes that were already in his possession