[Mr. Bird]

The former heavyweight champion amassed a $300 million fortune from his ring earnings

This is very misleading. A boxer walks away with probably 20% of the advertised purse. I heard an interview with Buster Douglas (someone who handled his money well) in which he describes seeing approximately $1.5 mill on a reported $10 million pay day. They gotta pay the ring men, the trainer, the promoter, the IRS, the bodyguards, etc. Any additional frivolous expenses can easily break them.

[SirAllen]

"This is very misleading. A boxer walks away with probably 20% of the advertised purse"

My understanding is that the 300 million was Tyson's cut from all his fights, meaning if you added all the purses won up it'd be around a billion. But I may be wrong....