King's comrade in the folically-challenged hair club for men, Donald Trump, served as emcee of the annual gathering, People magazine reported.
"I've got a catchphrase," Trump said, "'You're fired.' Don King has a catchphrase. 'Not guilty.'"
King has been indicted in the past on tax evasion and insurance fraud, but has never been found guilty, according to ESPN. He has also denied allegations of fixing fights and rankings.
Returning to the hair theme, comedian Colin Quinn said the Rev. Al Sharpton, Trump and King "look like the three stages of a forest fire."
King said most of what was said about him was "unfounded and unwarranted," but he could be seen laughing through most of the event, People said.
"I've been the recipient of all this pain, but without pain there is no gain," he said.