What is Thomas “Hitman” Hearns’ net worth?

Thomas Hearns, a former professional boxer, has a net worth of $450 thousand. He competed from 1977 to 2006 and was nicknamed “The Hitman.” Hearns made history by becoming the first boxer to win world titles in five different weight divisions: welterweight, light middleweight, middleweight, super middleweight, and light heavyweight. Additionally, he was named Fighter of the Year by the Ring magazine in 1980 and 1984.

Hearns suffers first professional loss to Sugar Ray Leonard in record-breaking fight

In 1981, Hearns had an undefeated record of 32-0 when he agreed to fight Sugar Ray Leonard, resulting in his first professional loss. However, the fight earned Hearns and Sugar Ray a combined $17 million, which is equivalent to $50 million in today’s dollars. This made it the largest purse in sports history at the time.

Thomas Hearns Auctions Off Possessions to Pay Off IRS Debt

In 2010, Thomas Hearns was forced to auction off a number of his possessions to pay off his reported $450,000 debt to the IRS. The debt was reportedly accrued due to his generosity towards his large extended family. The auction included items such as a 1957 Chevy, three boats, a motorcycle, and memorabilia. Despite the loss of some beloved possessions, Hearns was able to fully satisfy his debt.

Early Life of Thomas Hearns

Thomas Hearns, born on October 18, 1958, in Grand Junction, Tennessee, was the youngest of three children from his mother Lois’s first marriage. His family moved to Detroit, Michigan, when he was five years old. From his mother’s second marriage, he acquired six more siblings.

Amateur Boxing Career of Thomas Hearns

Thomas Hearns had a successful amateur career with a record of 155-8. In 1977, he won both the National Amateur Athletic Union Light Welterweight Championship and the National Golden Gloves Light Welterweight Championship.

Thomas “Hitman” Hearns’ Boxing Career

Thomas “Hitman” Hearns began his professional boxing career under the tutelage of trainer Emanuel Steward. He carried an undefeated record of 28-0 into his world title match against Pipino Cuevas in 1980, winning the match via TKO in the second round and earning the Fighter of the Year award from the Ring magazine.

Although he suffered his first professional loss to Sugar Ray Leonard in 1981, Hearns bounced back by winning the WBC super welterweight title the following year. He successfully defended the title against several opponents, including Roberto Durán, becoming the first boxer to KO the Panamanian fighter and winning his second Fighter of the Year award.

In 1985, Hearns challenged middleweight champion Marvin Hagler in a now-legendary bout that ended prematurely due to Hearns breaking his right hand. He made a comeback in 1986, winning a match against James Shuler with a first-round KO. The following year, he won the WBC light heavyweight title against Dennis Andries and the WBC middleweight title against Juan Roldán.

Hearns suffered a major upset in 1988 when he lost his middleweight title to Iran Barkley but rebounded by winning the inaugural WBO super middleweight title against James Kinchen later that year. With this win, he became the first boxer to win world titles in five different weight divisions. He had a controversial rematch with Sugar Ray Leonard in 1989, which ended in a draw.

Thomas “Hitman” Hearns’ Boxing Career

In 1991, Hearns emerged victorious against Virgil Hill, the undefeated WBA light heavyweight champion. He lost the title the following year to Iran Barkley but continued competing and winning eight subsequent bouts. In 1998, he had a career highlight with a rare double knockdown against Jay Snyder, ultimately claiming the win. In 1999, Hearns won the IBO cruiserweight title by unanimous decision against Nate Miller.

However, Hearns began the 21st century with a loss to Uriah Grant due to a right ankle injury. He promised to return to the ring, which he did five years later to beat John Long via TKO. Hearns had his final fight in 2006 against Shannon Landberg, whom he also defeated via TKO.

Thomas “Hitman” Hearns and his Financial Struggles

Thomas “Hitman” Hearns is a retired American professional boxer who has since ventured into the boxing promotion business with his mother Lois, under Hearns Entertainment. Hearns is a resident of Southfield, Michigan, a suburb of Detroit.

However, Hearns has faced financial struggles and had to auction off several of his possessions at the Auction Block in Detroit in 2010. The items auctioned included a 1957 Chevy and various collectibles.

Despite these challenges, Hearns is still involved in the boxing industry and even has a son named Ronald who also boxes.

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