George Foreman’s Net Worth (Updated 2022)
George Foreman is a retired American boxer and entrepreneur with a net worth of $300 million. George Foreman is a two-time World Heavyweight Boxing Champion, Olympic Gold Medalist, multimillionaire entrepreneur, and born-again Christian minister with an incredible story of success and perseverance.
George Foreman has a champion’s fortune, but you’d be surprised how little of it comes from boxing. Indeed, after turning professional in 1969 and amassing an impressive 76 wins out of 81 fights, Foreman had a relatively small net worth of $5 million by the 1980s. Foreman is now a very wealthy man, thanks to a very popular grill bearing his name.
In the late 1970s, George Foreman retired from boxing and became a Christian preacher. But, after the age of 40, he didn’t have much money left, so he returned to boxing to make ends meet. When he returned to boxing in the late 1980s, everyone mocked him, but eventually, everyone’s mouths fell silent.
By the mid-1990s, he had won a championship match in which everyone expected him to lose, but he proved everyone wrong and became champion again at the age of 46. Even today, he holds the record for being the oldest world heavyweight champion.
Growing Up
For different generations, the name George Foreman means different things. Some may remember the 24-year-old Texan who knocked out the undefeated Smokin’ Joe Frazier in 1973. The same fighter who was defeated by Muhammad Ali in the Rumble in the Jungle in 1974. The Rumble was a historic battle in Zaire that inspired the Academy Award-winning documentary When We Were Kings. If you’re younger, you’re probably more familiar with George Foreman as the cheerful guy on TV who sells Meineke mufflers and the George Foreman Lean Mean Fat Reducing Grilling Machine.
George Foreman was born on January 10, 1949, in Marshall, Texas. He was raised in Houston with six siblings. J.D. Foreman raised him, but his biological father was Leroy Moorehead. George described himself as a troubled adolescent in his autobiography. He dropped out of school when he was fifteen and became a mugger. A year later, he decided to make a change in his life and persuaded his mother to enroll him in Job Corps. He wanted to get his GED through Job Corps and work as a carpenter and bricklayer. After relocating to Pleasanton, California, he began boxing training.
Personal Existence
George has been married to Mary Joan since 1985. From his various relationships, he has 12 children in total. Adrienna Calhoun from 1971 to 1974, Cynthia Lewis from 1977 to 1979, Sharon Goodson from 1981 to 1982, and Andrea Skeete from 1982 to 1985 were his previous wives. George Edward Foreman is the middle name of all five of his sons, and George is the middle name of all of his daughters (except for one daughter named Georgetta).
Foreman has insisted that all of his children get a college education, but that hasn’t stopped a few of them from entering the boxing ring with their diplomas. George III recently won his first professional boxing match, following in his father’s footsteps. Freeda had a brief career trading punches, finishing 4-1. Natalie, on the other hand, has chosen a different path and is an aspiring singer. While his children are busy establishing their own careers, Papa George continues to expand his empire.
George Foreman’s Net Worth (Updated 2022) is estimated to be $300 Million.
Career | George Foreman’s Net Worth (Updated 2022)
In 1968, Foreman won a gold medal in the Olympics’ Heavyweight Boxing Championship in Mexico City. During this period, there were riots in the United States over civil rights and Vietnam. The African-American community was still debating whether to support US policy. The following year, Foreman decided to pursue boxing professionally and began serious and rigorous boxing training sessions.
Despite his victories, some criticized Foreman, claiming that he only won these matches because he fought against has-beens. Foreman’s life changed in 1977. Despite beating Pedro Agosto in Florida, he was defeated by Jimmy Young in Puerto Rico.
After ten years away from the ring, Foreman declared his comeback at the age of 40 in 1987, surprising everyone. Despite his lack of conditioning, he knocked out Steve Zouski in the fourth round of the fight in Sacramento, California. In 1988, he won nine fights, including one in which he knocked out Cruiserweight Champion Dwight Muhammad Qawi.
George Foreman’s Net Worth (Updated 2022) is estimated to be $300 Million.
Highlights
Here are some of George Foreman’s best moments:
- Associated Press Male Athlete of the Year (1994)
- Best Boxer ESPY Award (1995)
Boxing Profession
Foreman began his boxing career with a bang, winning a gold medal in the boxing/heavyweight division at the 1968 Mexico City Olympics. He defeated Jonas Cepulis, a 29-year-old veteran with a 12-year career who was 10 years older than Foreman. After his victory, Foreman walked around the ring holding a US flag and bowing to the crowd. He has stated that winning the gold medal was his proudest achievement in his entire career.
Foreman made his pro debut in 1969, winning 13 fights, 11 of which were knockouts. In 1970, Foreman won all 12 of his fights, and the following year, he won seven more by knockout. He kept his winning streak going until 1974 when he faced tougher opponents like Ken Norton and Muhammad Ali. He traveled to Zaire for his fight against Ali, which was billed as The Rumble in the Jungle. Ali knocked out Foreman and became the first boxer to do so. After a heartbreaking loss to Jimmy Young in 1977, Foreman announced his retirement.
By this point, Foreman had amassed a sizable fortune from his historic fights. Unfortunately, by 1987, nearly all of that $5 million fortune from boxing had been lost due to poor investments and an extravagant lifestyle. George was literally on the verge of bankruptcy, as he stated in a recent interview: “It was that scary because you hear about people being homeless and I was only fractions, fractions away from being homeless.” So Foreman returned to boxing, staging an impressive comeback that lasted until the late 1990s, after which he became a boxing commentator for HBO.
At the age of 48, George Foreman officially retired. He finished his career with 76 wins (68 knockouts) and only five losses. Foreman was inducted into the World and International Boxing Halls of Fames. He is regarded as the eighth greatest heavyweight fighter in history.
George Foreman’s Net Worth (Updated 2022) is estimated to be $300 Million.
George Foreman Grill
When he returned from retirement in the 1990s, Foreman stated that his success was due to a healthier lifestyle and nutrition. In 1994, he was approached by Salton, Inc, which was looking for a spokesperson for its fat-reducing grill. Foreman complied, and by 2009, the Grill had sold over 100 million units. Foreman has never confirmed how much money he made from the endorsement, but Salton paid him $138 million in 1999 for the right to use his name. Previously, he was paid 40% of the profits on each grill sold, amounting to roughly $4.5 million per month at its peak.
He is estimated to have earned more than $200 million from the grill, far more than he did as a boxer.
George Foreman’s Social Media Profiles
| 125K Followers | Click here | |
| 465K Followers | Click here | |
| 209.2K Followers | Click here | |
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George Foreman’s Net Worth (Updated 2022) is estimated to be $300 Million.
Other Hobbies
Foreman is a Panther Racing IndyCar team partner. He has written five books and continues to appear on TV (as a guest on The 700 Club and as a judge on American Inventor) and in films (cameo in Night at the Museum: Battle of the Smithsonian).
Property Investment
George and Mary Joan live in Texas on a 40-acre estate.
Summary | George Foreman’s Net Worth (Updated 2022)
George Foreman is a former World Heavyweight Champion who rose through the ranks from street fights and poverty to become a world-renowned boxer. The Ring magazine named him one of the top 25 fighters of the last 80 years. The magazine also named him the ninth greatest puncher of all time.
George Foreman’s Net Worth (Updated 2022) is estimated to be $300 Million.
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