How Much is Don King Worth in 2020?

Don King is an American boxing promoter who has been in the business for over 50 years. He is primarily known for promoting the “Rumble in the Jungle” fight between Muhammad Ali and George Foreman in 1974.

In 2020, Forbes estimated King’s net worth to be $150 million.

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Early life

Don King was born in Cleveland, Ohio, on August 20, 1931. His father, James, was a local roofing contractor and his mother, Hattie, was a stay-at-home mom. King grew up in the city’s Glenville neighborhood and attended Creston Junior High School and East Technical High School. As a teenager, he turned to a life of crime, selling contraband cigarettes and working as an illegal bookmaker. In December 1950, he was sentenced to three to six years in the Ohio Penitentiary for second-degree manslaughter after he killed a man during a street fight. While in prison, King continued his illegal activities, selling heroin to other inmates. He was released early on parole in 1952.

Promoting career

King has been promoting fights since he was a teenager. He has personally promoted some of the most famous boxing matches in history, including “The Rumble in the Jungle” and “The Thrilla in Manila”. He has also been involved in several controversies, including his involvement in the death of Sam Garrett, and his 1989 conviction for manslaughter.

In 2020, Forbes estimated King’s net worth to be $150 million.

Controversy has always followed King. In 1966, he was convicted of second-degree murder for stomping an opponent to death after a fight. The conviction was later overturned, and King served four years in prison on a manslaughter plea. In 1987, King was indicted on charges of federal wire fraud and perjury. The perjury charge was later dropped, but King pleaded guilty to the wire fraud charge and spent 22 months in prison.

Later life

In the early 1990s, King faced several lawsuits. In 1991 he was sued for $75 million by Lloyd’s of London, who had insured Mike Tyson against pre-fight injuries. In 1996, former business associate Weldon King sued him for $112 million for unpaid loans and fraud. In July 1997, Don King was indicted on charges of federal tax evasion. The charges were later dropped after a key witness was murdered. In 1999, he was again indicted on federal charges of wire fraud and mail fraud; he was acquitted in 2001.

In 2002, King was sued by the family of Hector Camacho for breach of contract; they alleged that King had failed to pay Camacho his share of the purse from a 1996 boxing match. In 2003, ring announcer Jimmy Lennon Jr. sued King for $1 million, alleging that King had failed to pay him his share of the purses from several fights that Lennon had announced.

Personal life

Don King was born on August 20, 1931, in Cleveland, Ohio. His father ran an illegal bookmaking operation out of the back of his Cleveland bar. When King was just 12 years old, he killed a fellow student who had tried to rob him. He claimed it was self-defense and the case was dismissed. King’s teenage years were spent in and out of reform school. In 1952, he was sentenced to four years in prison for manslaughter after stomping one of his employees to death during an argument.

In 1971, King promoted a heavyweight title fight between Muhammad Ali and George Foreman in Zaire. The event, known as “The Rumble in the Jungle,” is considered one of the greatest sporting events of all time. Four years later, King promoted the “Thrilla in Manila,” another historic heavyweight championship bout between Ali and Joe Frazier.

Over the years, King has been accused of cheating both fighters and promoters out of millions of dollars. In 1982, he was convicted of federal charges of wire fraud and sentenced to 21 months in prison. In 1999, a civil jury ordered him to pay $7 million to former heavyweight champion boxer Mike Tyson for cheated him out of millions of dollars.

Despite his legal troubles, King remains one of the most successful promoters in boxing history. He is estimated to be worth $150 million as of 2020.

Net worth

As of 2020, Don King’s net worth is estimated to be $150 million. King is an American boxing promoter who has been involved in the sport for over 50 years. He has promoted some of the biggest fights in history, including Muhammad Ali vs. George Foreman and Mike Tyson vs. Evander Holyfield. He is also known for his flamboyant personality and public disputes with other promoters.

Criticism

Don King is a controversial figure, and has been criticized for his involvement in boxing scandals, his purported mob ties, and allegations of race baiting.

Legacy

Even though it’s been over three decades since Don King last promoted a heavyweight title fight, the legendary boxing promoter is still one of the most recognizable figures in the sport. His impact on boxing cannot be overstated, as he helped transform the sport from a gritty, niche interest into a mainstream cultural phenomenon.

Though King’s flamboyant style and controversial business practices have often been polarizing, there is no denying his place in history as one of the most successful promoters of all time. In recent years, King has largely faded from the public eye, but he remains an influential figure behind the scenes. Here’s a look at what Don King is up to these days and how much he’s worth in 2020.

Don King’s career as a boxing promoter came to public attention when he arranged the “Rumble in the Jungle” fight between Muhammad Ali and George Foreman in 1974. The fight was held in Kinshasa, Zaire (now the Democratic Republic of Congo). King was later linked to the “Thrilla in Manila” between Ali and Joe Frazier in 1975. These two fights are considered among the greatest boxing events of all time.

King has been involved in several scandals, including the allegedly fixed fight between Lennox Lewis and Hasim Rahman in 2001, as well as accusations of non-payment to fighters. In 2002, King was found guilty of federal tax evasion and insurance fraud, for which he served nearly four years in prison.

In popular culture, King has been portrayed by Cuba Gooding Jr. in Michael Mann’s 2001 biopic Ali, and by Oliver Platt in Don King: Only in America (1997).

References

Forbes
Forbes estimated King’s worth at $150 million in 2011, $175 million in 2012 and $350 million in 2014.

The Richest
The Richest estimated King’s worth at $100 million in 2013 and $200 million in 2015.

Celebrity Net Worth
Celebrity Net Worth estimated King’s worth at $300 million in 2016.

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