Is Don King Dead, What Is His Net Worth And Does He Have A Daughter?

Don King is one of America’s most famous and richest boxing promoters. He is best known for promoting numerous pro boxers such as Muhammad Ali, George ForemanMike Tyson, and a host of others. By 2006, Forbes estimated that King had grossed $1 billion in boxing revenue by promoting 600 championship bouts within 33 years, earning $350 million in the process.

However, despite his success, King’s career has been plagued by a series of controversies mostly stemming from fraud. By the end of the decade following the new millennium, King’s career as a promoter had waned as a result of numerous sanction bodies and competition from other combat sports. Nevertheless, his Don King Production remains active while King banks from other business endeavors. In recent years, his net worth is estimated at over $150 million.

How He Began

Donald King was born on August 20, 1931, in Cleveland, Ohio. Born into a low-income family, King became involved with street life in order to make money. His love for illegal activities remained even after his mom moved the family to a middle-class neighborhood with the insurance money she received from the death of his father who died from a steel plant accident.

King attended John Adams High from where he graduated in 1951. He later enrolled at Kent State University to study law. However, his love for the streets soon overshadowed his academic pursuits, forcing him to drop out before graduation. Cadillac Slim, (as he was known on the streets) then began running a nightclub and an illegal numbers game which soon proved profitable, but not without consequences.

In 1954, King shot and killed a certain Hillary Brown who was trying to rob one of his gambling shops, however, the court ruled it as a justifiable homicide. In 1966 King was arraigned after he beat his employee to death for owing him $600. He was convicted of first-degree manslaughter. After serving about 4 years behind bars, he was released in September 1971 and later pardoned for his crimes.

Don King Net Worth

A year after being released from prison, King sought to become a boxing promoter. He started by convincing Muhammad Ali to fight in a fundraising exhibition for a local hospital in Cleveland. Subsequently, he formed close ties with a couple of veterans in the boxing world and got to promote the much-anticipated fight between Ali and George Foreman in Zaire. King was able to beat his rivals to the job by raising the then-record $10 million fight purse thanks to his negotiations with the Zaire government. Ali emerged victorious in the bout that was labelled “The Rumble in the Jungle”.

In the following year, King took his business to the next level by promoting yet another blockbuster match, this time between Joe Frazier and Ali in Manila, Philippines. The bout dubbed “Thrilla in Manila” was ranked as one of the best in the sport’s history.

From then on, King’s fame and success only soared, he became notorious for his signature frizzy hairstyle and ostentatious display of character. Throughout the 1970s his Don King Productions became awash with champions like Salvador Sánchez, Wilfredo Gómez, and Alexis Argüello. The 1980s and 90s were no different, the likes of Mike Tyson, Julio César Chávez, and Evander Holyfield had most of their biggest bouts promoted by the King.

READ   What Is Brooks Laich's Net Worth and Who Is His Wife?

Don King Net Worth

Don King Net Worth, Earnings, And Fraud Lawsuits

In his hay days, King bargained like a Don, a skill that kept him well in business. In 1979, he sold to a burgeoning HBO pay-TV its first bout. The company had King to thank for putting them in the lucrative business of boxing. In 1982, King sold a fight to them for $2 million. King went on to sell bout packages to closed-circuit, pay-per-view and broadcast television.

By far King’s most lucrative fighter was Mike Tyson. Their relationship began in the late 1980s. Upon Tyson’s release from his first prison sentence for rape in 1995, King was able to secure a 6-fight, $70 million deal for him with MGM Casino, Las Vegas. As part of the deal, MGM gave King $15 million worth of shares in agreement that he would sell it back when the value doubled. The deal paid off as King ended up with $30 million profit.

Tyson’s success in the ring during these periods also meant more money for King who’s annual earnings surged to $70 million. Unfortunately, their love story was only short-lived. Tyson sued King for cheating him out of millions, requesting for $100 million. King later settled with $14 million.

Don King Net Worth

However, it wasn’t the first time King was being sued for fraud by one of his boxers. In the 1980s, he forked out $1m to settle Tim Witherspoon and 6 figures each to Ali and Larry Holmes. In 1996, Terry Norris sued him for theft and underpayment, as a result, he paid $7.5 million to settle in 2003. His litigation woes seemed to have surged after his debacle with Tyson, King spent as much as $30 million on attorneys in just one year.

Against all odds, King was still a rich man and perhaps would have gone on to bank more if his Don King Promotions wasn’t forced to cut staff as a result of competition from other combat sports, the emergence of numerous sanctioning bodies and the dearth of boxing talents.

Other Endeavors

While his career as a promoter waned, King had other money-making businesses to rely on. Back in 1998, he invested some of his wealth, precisely $700,000 to purchase “Call and Post”, a Cleveland-based African-American weekly newspaper. King also owns rights to other businesses, including a robot ad technology.

See Also: Al Sharpton Biography

Does He Have A Daughter?

Don King has three children, one biological daughter, Deborah, and two adopted sons, Carl and Eric.

Deborah, popularly referred to as Debbie, is a recovered drug addict. She is currently working with other addicts through her drug/substance rehabilitation practice, Limitless Life Recovery, which is geared toward entertainers and athletes. She is also the new spokesperson for the National African American Drug Policy Coalition, a group that searches for alternative ways to handle drug offenders instead of incarceration.

Uwa Echebiri
Uwa Echebiri
Uwa has extensive professional writing and editing experience including report and technical writing, product reviews, informational and persuasive articles, creative and content writing on nearly any topic, from entertainment to lifestyle, finance, sports and more. As a lifelong movie buff, Uwa is either bingeing on new movies during leisure, or giving someone a whopping on the latest FIFA edition


Does Pharrell Williams Have Wife or Kids and What is His Net Worth?

With at least 13 Grammy Awards under his belt, Pharrell Williams is an established American record producer, singer, and businessman. He began by producing...

What Happened to Mel Gibson’s First Marriage? Meet His Kids and Current Girlfriend

Being married and staying married in Hollywood can be a herculean task. When you add the baggage of struggle with alcoholism and bad press...

A Close Look At Daniel Tosh’s Net Worth, His Wife And Gay Rumors

Daniel Tosh is an American stand up comedian, actor, writer, executive producer, and television host. He is popular for his controversial style of dark...

Making Sense Of Angelina Jolie And Brad Pitt’s Divorce

No one likes divorce, but, sadly, it happens for several different reasons. Best couples are no different; we've seen marriages between lovebirds crash when...

14 Corrupt Billionaires Who Have Served Jail Time

One would like to think that being a billionaire would at least solve the problem of greed, instead, the reverse is the case for...

10 Instagram Fitness Models Who Are Raking In Millions Online

Instagram was launched only about a decade ago, but today, with its more than half a billion users, it has since joined the big...

Who Are Charles Barkley’s Wife and Kids and What is His Net Worth?

Charles Barkley is famous for being one of the most phenomenal American basketball players of all time. As an NBA player, he was nicknamed...

More From Justrichest

Inside Jay Leno’s Massive Car Collection, Net Worth & Family Life

Jay Leno is without doubt, one of the finest and most mature entertainers America has ever produced. A multiple award-winning stand-up comedian, writer, TV...

12 Biggest and Most Expensive Homes of Extravagant Footballers In 2020

The huge and decent earnings of footballers grant them the audacity to exemplify lavish spending and also enable them to sustain every aspect of...

Jessica Nigri Net Worth: How Much Money Does The Cosplayer Make?

Jessica Nigri is a well-known American cosplayer. For the benefit of those who don’t know, Cosplay is derived from the words costume and play....

20 Strongest and Most Powerful Currencies in The World (Updated 2020)

According to World Atlas, there are 180 currencies in circulation that are recognized by the United Nations across the wide world and these are...

Featured Today

Little Known Facts About Kristen Welker’s Career, Parents and Husband

Those who can tell a thing or two about Kristen Welker will quickly point out that she is a media personality known for her...

What Is Wrong With Barron Trump, Is He Really Autistic? Where Is He Now?

Autism is prevalent and can affect people of all ethnic, racial and socioeconomic groups. The disorder, which limits a person's ability to relate and...

Who is Zack Snyder’s Daughter Autumn Snyder and Why Did She Commit Suicide?

It could be hard to understand why someone would ever take their own life; leaving their family and loved ones to suffer in a...

Top 10 Richest Male Porn Stars In The World

What could be better than passing time other than watching an adult movie on your television, computer, or anywhere? Sex has something to do...

The Untold Truth of Bryan Chatfield Sanders Sarah Huckabee Sanders’ Husband

Everyone is familiar with Sarah Huckabee Sanders but not so with her husband Bryan Chatfield Sanders. As a media and political consultant, Sanders has worked...

Related Stories