Net Worth Ranker
What Is Don King’s Net Worth?
Don King, the American boxing promoter celebrated for his flamboyant persona and impactful career, has accumulated a net worth estimated at $150 million. This substantial wealth is primarily derived from his decades of work in the boxing industry, where he represented some of the sport’s most iconic figures and orchestrated some of its most memorable events. While the precise breakdown of his assets isn’t publicly detailed (e.g., specific real estate holdings, investment portfolios, or detailed contract breakdowns), his career trajectory and high-profile dealings offer insight into the accumulation of this significant net worth. His earnings mainly consist of his boxing promotion career.
Boxing Career and Earnings
King’s career took off in the 1970s. After gaining a full pardon for his crimes, Don immediately pursued a career as a boxing promoter. In 1974, he secured a groundbreaking $10 million purse for the “Rumble in the Jungle” between George Foreman and Muhammad Ali in Zaire. The negotiations with the Zaire government were essential to winning against other rival promoters. In 1975, King promoted another fight for Ali, this time against Chuck Wepner. King dubbed Ali’s fight against Joe Frazier as the “Thrilla in Manilla” due to its location in the Philippines capital. The fight was a major focus for Don King, but he also expanded his operations to work with other successful boxers like Larry Holmes, Salvador Sanchez, Roberto Duran, Mike Tyson, Wilfried Benitez, and Alexis Arguello. In 1982, Mohammed Ali took King to court alleging he had been underpaid $1.1 million. It was settled outside of court for $50,000. Larry Holmes stated Don King had cheated him out of $10 million in fight purse money. He settled after suing King for $150,000. Tim Witherspoon alleges he was tricked into handing over 80% of his fight money to King and his associates. He settled for $1 million after suing King for $25 million. Mike Tyson also thought ill of Don King claiming his promoter had cheated him out of millions of dollars over the decades they worked together. He eventually sued King for $100 million and settled for $14 million outside of court. These major fights and boxer representations substantially boosted his income over the years. While exact revenue figures for each event remain private, the magnitude of these promotions significantly contributed to Don King’s Net Worth.
Legal Issues and Settlements Impacting Don King’s Net Worth
While Don King’s boxing promotion career led to his financial success, his legal entanglements had a contradictory effect on his net worth. During his time running an illegal bookmaking operation, he murdered two men. The court ruled that the first murder where King shot a man in the back, was a justifiable homicide since King was being robbed. In the second murder, where King stomped his employee to death, King was found guilty of second-degree murder. However, this would later be changed to non-negligent manslaughter since it was deemed to be in the “heat of the moment”. Over the course of his career, he’s faced allegations of underpaying fighters. For example, Muhammad Ali sued King in 1982, claiming he was underpaid by $1.1 million. The case was settled out of court for $50,000. Larry Holmes alleged that Don King cheated him out of $10 million in fight purse money, and settled his lawsuit for $150,000, also agreeing not to say negative things about King in public. Similarly, Tim Witherspoon claimed he was coerced into giving over 80% of his fight earnings to King and his associates, resulting in a settlement of $1 million after suing for $25 million. Mike Tyson also felt cheated by King, alleging that King had cheated him out of millions, eventually settling for $14 million after suing for $100 million. These legal battles, settlements, and potential legal fees associated with his past crimes likely affected Don King’s Net Worth.
