What Was George Foreman Net Worth?

George Foreman, the legendary American boxer and astute entrepreneur, had a net worth of $300 million at the time of his death. Although he initially earned millions during his boxing career between 1969 and 1977—setting aside about $5 million, equivalent to around $20 million today—Foreman later faced severe financial trouble. A combination of poor investments and a lavish lifestyle drained his fortune, leaving him nearly broke by 1987. Facing the prospect of bankruptcy, Foreman made a remarkable decision to return to boxing, leading to one of the sport’s most extraordinary comebacks in the 1990s.

Yet, George Foreman’s incredible $300 million fortune was not the result of boxing alone. The vast majority of his wealth came from an unexpected and wildly successful venture: the George Foreman Grill. His partnership with the grill brand transformed his financial future, earning him more money than he had ever seen inside the ring.

Rise to Boxing Greatness

Born on January 10, 1949, in Marshall, Texas, George Foreman grew up in Houston with six siblings. Raised by J.D. Foreman, though his biological father was Leroy Moorehead, Foreman’s early years were troubled. After dropping out of school at 15 and getting into street crime, he eventually turned his life around through Job Corps, earning a GED and learning trades before discovering boxing.

Foreman’s boxing journey began with a gold medal victory at the 1968 Mexico City Olympics, an achievement he would later describe as the proudest moment of his career. Turning professional in 1969, he tore through opponents with devastating knockouts, culminating in a career-defining victory over Joe Frazier in 1973 to become the undisputed heavyweight champion. However, a historic defeat to Muhammad Ali during the “Rumble in the Jungle” in 1974 marked a turning point.

Retiring unexpectedly in 1977, Foreman became an ordained minister. But financial woes drew him back to the sport a decade later. At age 45, Foreman stunned the world by knocking out Michael Moorer in 1994, reclaiming the heavyweight title and becoming the oldest champion in heavyweight history. He ultimately retired for good in 1997 with a stellar record of 76 wins (including 68 knockouts) and just five losses.

George Edward Foreman’s youth was marred by poverty and crime. However, his enrollment in the Job Corps proved to be a turning point, eventually leading him to boxing—a path that would change his life forever. His gold medal win at the 1968 Olympics was a national moment of pride, and his early professional career was marked by an almost unstoppable string of victories.

The George Foreman Grill

Although Foreman’s boxing career was legendary, it was the George Foreman Grill that turned him into a financial titan. Launched in 1994, the Lean Mean Fat-Reducing Grilling Machine featured a unique sloped design to drain away fat—perfect for the health-conscious 1990s.

The grill was invented by Michael Boehm and Robert Johnson, who struggled to find a celebrity to endorse it—until they approached Foreman. Although he had never used the grill before agreeing to the partnership, Foreman became an enthusiastic believer in its value after trying it.

With Foreman’s infectious smile and authenticity, the grill became a household sensation. His slogan, “It’s so good I put my name on it,” helped drive massive sales. Initially earning around $138,000 a month in royalties, Foreman’s earnings exploded as millions of units flew off the shelves. By 1999, over 20 million grills had been sold, leading Salton, Inc. to buy out his share for a reported $137.5 million in cash and stock. At his peak, Foreman earned as much as $8 million per month from the grill.

Overall, Foreman’s earnings from the grill topped $250 million, dwarfing his boxing income and solidifying his financial legacy. The grill’s success also reshaped Foreman’s public image, turning him from the fierce fighter of the 1970s into a beloved, jovial figure.

A Boxing Career of Two Acts

Foreman’s first professional act ended after his 1977 loss to Jimmy Young, when he claimed to have a near-death experience and decided to become a preacher. After a decade of ministry, he returned to boxing not only to rebuild his fortune but to prove that age was just a number. His improbable victory over Michael Moorer remains one of the most inspiring comebacks in sports history.

Also Read: Jim Balsillie Net Worth

After officially retiring in 1997, Foreman was inducted into both the International Boxing Hall of Fame and the World Boxing Hall of Fame, widely regarded as one of the greatest heavyweights of all time.

Passion for Cars

Foreman was also a passionate car collector. In 2023, he announced the auction of his prized collection—more than 50 classic and rare vehicles—through Hagerty Marketplace. The online auction, held in December 2023, drew global attention and fetched impressive sums, reflecting the prestige associated with Foreman’s name.

Personal Life

George Foreman was married to Mary Joan Martelly from 1985 until his death, and he had 12 children. Famously, all five of his sons were named George Edward Foreman, while his daughters also bore his name as a middle name, except for one daughter named Georgetta. He emphasized education for all his children, insisting they earn college degrees. Some of his children, like George III and Freeda, briefly pursued boxing careers.

Tragically, Freeda passed away in 2019 at the age of 42. Other members of the Foreman family ventured into music and other professions.

Real Estate Holdings

Over his lifetime, Foreman owned an impressive portfolio of real estate. His early ranch in Livermore, California, once housed exotic animals, while his sprawling property in Kingwood, Texas, provided a lavish family home. He later acquired a 300-acre ranch in Marshall, Texas, and a luxury beachfront townhouse in Malibu for vacations. His grandest estate, a Mediterranean-style mansion in Huffman, Texas, boasted 12,000 square feet of living space, an 11,000-square-foot garage for 55 cars, and was listed for $9.5 million in 2024.

George Foreman Net Worth 2025

George Foreman net worth was $300 million.