He Once Promoted Boxers Mike Tyson and Muhammad Ali; What Is 92-Year-Old Don King's Net Worth?

What is Don King's Net Worth?

Businessman and boxing promoter Don King has an estimated net worth of $150 million, according to Celebrity Net Worth. King is best known as a promoter with two of the greatest boxers of all time, Muhammad Ali and Mike Tyson. It was King who was behind Muhammad Ali's most famous fights such as the "Rumble in the Jungle" and the "Thrilla in Manila,” and more. Other famous fighters that King represented include George Foreman, Evander Holyfield, Larry Holmes, Roy Jones Jr., and Marco Antonio Barrera.

Don King’s Career and Earnings

King's career in organized sport started with an illegal bookmaking operation which was run out of the basement of a record store. The operation was bust when King was arrested and jailed for murder. King allegedly killed two people between 1964 and 1967.

He eventually received a full pardon for his crimes and released from prison. Several letters from high-profile figures to the courts in support of King significantly contributed to the “clean up” of his image and facilitated his release.

After his release, King pursued a career as a boxing promoter and his first success came when he  convinced Mohammed Ali to fight in a charity event. He then forged a partnership with Don Elbaum, an experienced boxing promoter having represented various successful boxers.

However, King's breakthrough came when he negotiated a record-breaking $10 million purse for the George Foreman vs Mohammed Ali fight in 1974. The fight was promoted as "The Rumble in the Jungle," as it took place in Zaire, Africa.

His next major success came with the promotion of Ali's fight against Joe Frazier which was dubbed as "Thrilla in Manilla" as it was held in the capital of the Phillippines.

Apart from Ali, he also worked with other widely successful boxers such as Mike Tyson, Larry Holmes, Salvador Sanchez and Roberto Duran among others. While it is not known how much King earned in his career, it is estimated to be over hundreds of millions of dollars.

Other Ventures

Apart from boxing, King worked with the ‘King of Pop’ Michael Jackson as well. He managed Jackson's “Victory Tour”. King also purchased a newspaper called Call and Post and served as the editor of the publication for several years.

Controversies

During his career, King was sued by several boxers, including Ali and Tyson. Ali sued King in 1982 alleging that he had been underpaid to the tune of $1.1 million. The case was settled outside of court with a payout of $50,000, as per Celebrity Net Worth.

Further, Larry Holmes accused King of cheating him out of $10 million in fight purse money. He too sued King and later agreed to take a settlement of $150,000. Tim Witherspoon also alleged that King tricked into handing over more than 80% of his fight money. Thus, Witherspoon was frequently handing over more than two-thirds of everything he made in each fight, and he was forced to train at King's own gym at a cost rather than train elsewhere for free. He sued King for more than $25 million, and settled the case outside of court for $1 million.

The next famous boxer to sue King was Mike Tyson who alleged that he had cheated him out of millions of dollars over the decades. He sued King for $100 million and finally settled the case for $14 million outside of court.

Real Estate Assets

In 1999, Don King pieced together a beachfront estate in Manalapan, Florida. He bought two adjacent homes separately in 1999 with his wife Henrietta. He paid about $7.8 million and $6.5 million for each of the houses respectively, as per NBC Miami.

The two adjacent homes were joined to make a single estate, spanning across 24,000 square feet, featuring 13 bedrooms and 17 and a half baths, a pool, cabana, a bar as well as a tennis court. Further, the property features 300 feet of space directly on the ocean and two docks on the Intracoastal waterway.  Years later, King listed the property for $19.995 million, and managed to sell it within 45 days. The property was sold in 2016  for a whopping $15.9 million, as per NBC Miami.  

Personal Life

King was married to his wife Henrietta for 50 years. She passed away on December 2, 2010 at the age of 87. At 92, King has three children, five grandchildren and three great grandchildren.

Awards

1975      Man of the Year, National Black Hall of Fame

1976      Man of the Year, NAACP

1980      Citation for Outstanding Support and Service, U.S. Olympic Committee

1981      George Herbert Walker Bush Award, President's Inaugural Committee

1983      Promoter of the Year, North American Boxing Federation

1984      Humanitarian Award, World Boxing Council

1997      Inducted in Boxing Hall of Fame

FAQs

How old is Don King?

Don King is 92 years old.

Where is Don King from?

Don King was born in Cleveland, Ohio.

How much is Don King worth right now?

Don King has an estimated net worth of $150 million.