Boxing legend Mike Tyson was someone who managed to become successful early on in life as he cruised through the heavyweight division. He was carving his undying legacy one fight at a time, knocking out boxers one after another. He earned a fearsome reputation and had his opponents shaking at the sight of him. At one point in his career, he appeared invincible to everyone, fans, and boxers included. This way, the ‘Kid Dynamite’ became the youngest heavyweight champion at just the age of 20 years old.
Like every great success story, it always starts small, Tyson’s bout against John Alderson was one such stepping stone, where he showed a glimpse of the genius hidden within the young boxer. The bout took place back in July 1985, at the Trump Casino Hotel, Atlantic City. Watch how the young Brooklyn native dismantled his opponent and left him unable to continue the bout.
Mike Tyson vs John Alderson: a nasty knockout
John Alderson probably had no idea that he was entering the ring with one of the greatest boxers in the world. As the six-round bout started, Alderson soon discovered the ferociousness and the boxing acumen of young Tyson. This was Tyson’s fifth professional bout, and he was coming off all knockout victories prior to the bout. Undeniable dominance was evident early in Tyson’s career as he showed how he was on a whole other level compared to Alderson.
Despite the height advantage, ‘Iron’ Mike had him on the defensive with powerful lefts in the opening round of the bout. The second round followed suit as Tyson’s devastating right hand caused Alderson to lose his gum shield and stability. Tyson knocked Alderson down twice, draining his enthusiasm and hindering his attempts to rise after the second knockdown. Right when the bell was about to ring to mark the end of the round, Alderson succumbed to a ruthless Tyson right hook. Disoriented and unaware, he made no protest as the fight was waved off in his corner.
Even though Tyson was climbing the ladder of success quite quickly, his lavish lifestyle outside of the ring couldn’t keep up with his earnings from boxing.
Here’s how the former world champion went bankrupt
Tyson has been pretty open about his substance abuse and bad habits that inevitably led to him getting bankrupt. A lot of factors came into play that led to the eventual downfall of the former world champion, including his spendthrift habit. Tyson, indulged in opulent living, owning multiple lavish mansions brimming with luxury furnishings. Furthermore, he possessed an extravagant collection of high-end cars and even maintained three pet tigers, which incurred exorbitant expenses amounting to millions of dollars.
Moreover, he pointed fingers at his then-manager, Don King, accusing him of withholding a fair share of his fight earnings. He sued King and took legal action against him, filing a lawsuit and seeking $100 million in damages for alleged fraudulent practices that deprived Tyson of his rightful earnings. However, he only managed to settle for $14 million. Recently he talked about an incident where he lost $55 million as he couldn’t afford to pay his lawyers. He has since then bounced back and has even started his new business venture in the cannabis industry.