I have a question

Discussion in 'Classic Boxing Forum' started by redrooster, Feb 28, 2010.

  1. redrooster

    redrooster Boxing Junkie Full Member

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    What happened to all of Tyson's money?
     
  2. klompton

    klompton Boxing Addict banned

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    Apparently it filled up 90% if the Titanics cargo space. It was the weight of this vast fortune that sunk that legendary liner, not an iceburg. It has long since disintegrated on the bottom of the Atlantic Ocean. At least thats as logical an explanation to how he could have blown such a vast sum of money in such a short time as any other...
     
  3. natonic

    natonic Boxing Addict Full Member

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    His financial advisor, one Ray Leonard, got him involved in some terrible investments.
     
  4. kenmore

    kenmore Boxing Addict Full Member

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    Based on what I've read, and I don't know if it's true, Tyson always lived extravagantly, even for someone making tens of millions of dollars. The luxury services he maintained were incredible: limousine fleets, exotic animals and expensive animal trainers, etc. It doesn't sound like much of Tyson's money was kept in conservative investments, managed by qualified trust bankers or respectable investment professionals.

    Also, Tyson's IRS problems would have been disastrous, because the IRS charges massive interest and penalties on arrearages. So, if someone owes millions or tens or millions in unpaid taxes, the interest and penalties would be incredibly big.
     
  5. WhataRock

    WhataRock Loyal Member Full Member

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    He spent it...Pretty widely reported about his excessive spending and in that doco he was saying about how he had so many hangers on, it was costing him a fortune every month.

    But he liked having them around.