Who is Don King?
Donald King, an American boxing promoter who was born on August 20, 1931, is renowned for his participation in a number of legendary boxing contests.
He has a history of being controversial, in part because of a manslaughter conviction, civil lawsuits brought against him, and claims of dishonest business practises made by various fighters.
What is Don King Net Worth?
Don King, a well-known American promoter, is worth $160 million. The most well-known American promoter Don King estimated a net worth of around $160 million, according to a number of web sites (Wikipedia, Forbes, IMDB).
You’ll be startled to learn that his net worth was once three times higher, but recent court proceedings and their outcomes have caused him to lose a significant amount of money. Even after this, he still has a net worth of over $100 million.
Where does Don King Live?
Due to his collected riches throughout the years, Don King has owned a variety of luxurious homes. Over time, he sold off a sizable amount of it.
According to Urban Splatter, he currently resides in Paradise, Nevada. Las Vegas is about ten minutes away.
The home, which was constructed in 1992, features eight bedrooms, more than 8,000 square feet of space, a carport, an attached and detached garage, three fireplaces, and a sizable pool. The estimated cost of this property is $1.8 Million.
Did Don King Loose much of his net worth due to law suits?
Over the years, Don King has been a part of a number of controversies and as a result he has lost much of his wealth to Lawsuits.
King has been part in several fraud litigation cases involving boxers. Muhammad Ali sued him in 1982 because he believed he had been underpaid by $1.1 million for a fight with Larry Holmes.
Jeremiah Shabazz, an old friend of Ali’s, was summoned by King, who gave him a bag filled with $50,000 in cash and a document formally resolving Ali’s legal dispute with King. Ali was hospitalised owing to his deteriorating health, so he requested Shabazz to go see him, get him to sign the letter, and then give Ali the $50,000.
Ali swore. Even the right to advertise any upcoming Ali fights was granted in the letter to King. Ali was reportedly sick and rambling a lot at that point, according to Shabazz. I suppose he required the cash.
Shabazz subsequently came to regret supporting King. When he discovered that Ali had ended the litigation without notifying him, Ali’s attorney sobbed.
Larry Holmes has claimed that King defrauded him of $10 million in fight payouts over the course of his career, including by claiming 25% of his earnings as a covert manager.
Holmes claims King cut his purses for fights with Muhammad Ali, Randall “Tex” Cobb, and Leon Spinks, underpaying him $2 million, $700,000, and $250,000, respectively. Holmes also claims he received only $150,000 of a contracted $500,000 for his fight with Ken Norton and $50,000 of a contracted $200,000 for facing Earnie Shavers.
Holmes claimed that he was underpaid by $2 to $3 million in a lawsuit against King over the bookkeeping and auditing for the Gerry Cooney bout.
Holmes filed a lawsuit against King when King withheld a $300,000 “finder’s fee” from the money he received for his fight with Mike Tyson. King settled for $150,000, and Holmes also had to sign a contract promising to keep his mouth shut about King going forward.
If Tim Witherspoon did not sign exclusive contracts with King and his stepson Carl, he would risk being blacklisted. He signed four “contracts of servitude” without being allowed to have his own attorney present. (according to Jack Newfield).
Two contracts with Carl King were for management services; one was “for show” and granted King a 33% cut of Witherspoon’s earnings, while the other gave King a 50% portion—a higher percentage than many boxing commissions permit. One of the contracts was an exclusive promotional agreement with Don King. The fourth contract had nothing on it.
Other instances include Witherspoon, who was given a $150,000 contract for his bout with Larry Holmes but only received a $52,750 payment. In violation of Nevada law, King’s son Carl grabbed half of Witherspoon’s purse along with the WBC sanctioning fee.
Instead of Ali’s Deer Lake camp, which Ali had given Witherspoon permission to use for free, he was compelled to train at King’s own facility in Orwell, Ohio. From his $250,000 guaranteed purse, he got a net sum of $44,460 for his bout with Greg Page.
King had set aside money for travel fees for friends and family as well as for his sparring partners and battle. The agreed-upon $100,000 was never paid to Witherspoon for his training costs; instead, he was charged $150 per day to use King’s training facility.
Despite Don King Productions’ bogus allegation that he had only been paid 33%, Carl King once more received 50% of his money. King received $1,700,000 from HBO for having Witherspoon face Frank Bruno. Witherspoon received a pocketbook worth $500,000, but after King’s deductions, she only earned $90,000.
$275,000 was given to Carl King. Witherspoon sued King in 1987, seeking $25 million in compensation. He ultimately reached a $1 million out-of-court settlement.
What are the other media works of Don King?
King made an appearance in the two-part “Down for the Count” Miami Vice episode. Season 3 episodes 12 and 13.
King appeared in The Last Fight (1982) and the comedy Head Office in a minor role that was essentially a self-portrait. (1985). Additionally, he appeared briefly as himself in the movie The Devil’s Advocate. (1997). Additionally, he had an appearance in the Knight Rider episode “Redemption of a Champion” from season 4.
King made a role in the films Klitschko (2011) and Beyond the Ropes (2008).
King played himself in the Season 3 Episode 3 of Moonlighting, “Symphony in Knocked Flat.”
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