Former heavyweight champion "Iron" Mike Tyson has gone from rags to riches and back again over the course of his career.
Appearing Monday on CNBC's "Power Lunch," the boxing great revealed that at the height of his career, his net worth was between $400 to $500 million.
But after spending his fortunes on everything from 80-carat jewelry to a car collection — and going through a costly divorce — he filed for bankruptcy in 2003, declaring debts exceeding $23 million.
"I was totally out of my league. [I] didn't know how to handle money, didn't know how to handle the people that were involved with me with my money," he said.