Michael Spinks Net Worth: Michael Spinks is a boxer and promoter. Michael Spinks is worth $5 Million. Read on about Michael Spinks’s Net Worth, Biography, Age, Height, Family, and Career.
|Net Worth:||$5 Million|
|Date of Birth:||Jul 13, 1956 (66 years old)|
|Place of Birth:||St. Louis|
|Height:||6 ft 2 in (1.88 m)|
|Nationality:||United States of America|
What is Michael Spinks Net Worth?
Michael Spinks is a former American boxer with a $5 million net worth. Michael Spinks is the brother of professional boxing champions Leon Spinks and Cory Spinks. He is known as the “Jinx” because of his bad luck. Michael fought in 32 professional fights, and at the end of his career, he had only one loss. He had 21 knockout wins.
Michael Spinks was born in St. Louis, Missouri, on July 13, 1956. He started getting noticed when he won several amateur boxing titles in the early 1970s. Between 1974 and 1976, he won the Golden Gloves Light Middleweight Championship, Silver at the National AAU Championships, the National Golden Gloves Middleweight Championship, and the Gold Medal at the 1976 Montreal Olympics. The next year, he turned pro and went on a winning streak that almost lasted his whole professional career.
Before he quit, he had thirty-two fights and won thirty-one of them. He knocked out his opponents in twenty-one of his wins. His only loss as a professional boxer was in his last fight in 1988. Mike Tyson knocked him down twice in the first round of that fight. Spinks had only been knocked out twice in his career, the other time being by Dwight Muhammad Qawi in 1983.
In June of 1988, the fight with Mike Tyson took place at the Convention Hall in Atlantic City, New Jersey. At the time, it was the most profitable boxing fight ever, making about $70 million. Tyson earned about $22 million and Spinks about $13.5 million for the 91-second fight, which Tyson won by knockout (KO).
Career Pay and Money Problems
Spinks is one of the few boxers who was able to retire with both his money and his health in professional shape. During his career, he earned about $24 million before taxes. Most of the time, his money was taken care of by his promoter, Butch Lewis. When Lewis died in 2011, Spinks filed a lawsuit against the promoter’s estate, saying that tens of millions of dollars Spinks earned in the ring were mishandled. The lawsuit said that Lewis used Spinks’ money to pay for himself and his kids’ personal expenses. The lawyers for Spinks said that Lewis let the boxers’ health insurance lapse and didn’t pay $50,000 in monthly bills. Spinks allegedly had to use his pension and retirement funds to pay off his debt and monthly bills, which cost him a lot in penalties. Spinks wanted some of the $8.5 million that was left in Lewis’ estate to pay for damages. It’s not clear if the lawsuit was settled or not.
In January 1983, Michael Spinks’s wife Sandy Massey, who was 24 years old, died in a car accident. This meant that Spinks was the only parent Michelle, who was two years old, had. Two months later, he fought in the ring against Qawi to defend his light heavyweight title. In the fight called “The Brawl For It All,” Spinks knocked down Qawi in the eighth round and got scores of 144-140, 144-141, and 144-141 from the judges to win his title.
Personal Life & Real Estate
Michael Spinks has mostly stayed out of the public eye since he retired, but he sometimes goes to schools to talk about motivation and trains fighters. Spinks lives in Wilmington, Delaware, in a 7,000-square-foot house with a large guest house and three acres of property. In 1985, he paid $316,000 for the house. It is now worth between $1.5 and $2 million. He doesn’t have a mortgage on the property.