What Was George Foreman Net Worth When He Died?

George Foreman was an American boxing icon and a highly successful businessman with a net worth of $300 million at the time of his death. While his boxing career initially brought him millions, Foreman’s true financial success came from an unexpected source—the George Foreman Grill.

By 1977, Foreman had amassed around $5 million from boxing, equivalent to about $20 million today. However, poor investments and a lavish lifestyle left him broke by 1987, forcing him to return to the ring. His legendary 1990s comeback not only restored his boxing reputation but also positioned him for an even more lucrative business career.

While many remember Foreman for his powerful punches, his financial legacy was cemented through smart branding and endorsements, most notably his grill, which earned him far more than boxing ever did.

Boxing Career

Born January 10, 1949, in Marshall, Texas, George Foreman rose to prominence after winning the gold medal in the 1968 Mexico City Olympics. He turned professional shortly after and quickly gained a reputation as one of the most fearsome knockout artists in boxing history.

His defining moment came in 1973, when he defeated Joe Frazier to become the undisputed heavyweight champion. However, his reign was short-lived—he lost to Muhammad Ali in the historic “Rumble in the Jungle” in 1974, one of the most famous fights of all time.

Foreman retired in 1977 and became a minister. But a decade later, in desperate need of money, he staged one of the greatest comebacks in sports history. At age 45, he shocked the world by knocking out Michael Moorer in 1994, reclaiming the heavyweight title and becoming the oldest champion in history.

By the time he retired for good in 1997, Foreman had built an astonishing record of 76 wins (68 knockouts) and only 5 losses. His boxing prowess earned him a place in the International Boxing Hall of Fame in 2003.

The George Foreman Grill

Foreman’s biggest financial triumph came not in the ring but in kitchenware. In 1994, the George Foreman Lean Mean Fat-Reducing Grilling Machine revolutionized home cooking with its unique sloped design that drained fat from food.

The grill was not invented by Foreman but by Michael Boehm and Robert Johnson, who sought a celebrity endorser. Foreman, known for his warm personality, became the face of the product despite having never used it before signing the deal.

When Salton, Inc. marketed the grill with Foreman’s enthusiastic endorsement, it became a runaway success, selling over 100 million units worldwide.

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Foreman’s initial royalties started at $138,000 per month but soon soared as sales skyrocketed. By 1999, after selling over 20 million grills, Salton bought out Foreman’s rights for $137.5 million in cash and stock. At his peak, he was earning $8 million per month in royalties.

Total earnings from the grill: $250 million+—far surpassing anything he made in boxing.

In a 2014 interview, Foreman was asked about his earnings:

AARP: “Estimates are that you earned in excess of $200 million on the grill. True?”
Foreman: “Much more. There were months I was being paid $8 million per month.”

The George Foreman Grill didn’t just make him rich—it reshaped his public image, transforming him from a feared fighter into a lovable household name.

Financial Struggles

Despite earning millions in the 1970s, Foreman’s reckless spending and bad investments nearly left him bankrupt by 1987. He later admitted:

“I was fractions away from being homeless.”

His financial desperation led to his unexpected return to boxing, where he not only made history but also used his comeback to build a stronger brand, eventually leading to his business empire.

George Foreman Car Collection

Foreman was an avid car collector, owning a fleet of over 50 classic and luxury vehicles. In November 2023, he auctioned off his collection through Hagerty Marketplace, drawing massive interest from collectors worldwide.

His real estate portfolio included:

• A 4-acre ranch in Livermore, California (1970s)
• A 300-acre ranch in Marshall, Texas, his hometown
• A Malibu beachfront townhouse ($2.3 million in 2002)
• A luxury 29-acre estate in Huffman, Texas, listed for $9.5 million in 2024

Personal Life

Foreman married five times and had 12 children, including five sons all named George Edward Foreman and several daughters with “George” in their names.

Despite his massive wealth, he insisted that all his children get college degrees. Some, like George III and Freeda, pursued boxing, though Freeda sadly passed away in 2019.

George Foreman Net Worth 2025

George Foreman net worth was $300 million when he died in 2025.