George Foreman was a name synonymous with both boxing and business. By the time of his death in 2025, his net worth had reached an impressive $300 million. While his boxing career in the 1970s earned him significant wealth, his true financial breakthrough came from an unexpected source—a kitchen appliance. This transition from a feared boxer to a successful entrepreneur played a key role in shaping his lasting legacy.
Foreman’s Financial Struggles and Comeback
During the peak of his boxing career, George Foreman amassed a fortune, setting aside around $5 million between 1969 and 1977. This amount would be equivalent to approximately $20 million today. However, poor investments and a lavish lifestyle led him to financial ruin by 1987. Struggling to make ends meet, Foreman made the decision to return to the boxing ring. His remarkable comeback in the 1990s, culminating in winning the heavyweight title again at age 45, is one of sports’ most extraordinary stories.
Despite the initial setback, George Foreman’s financial story wasn’t defined by his boxing earnings alone. The majority of his wealth was amassed through a much more unlikely venture—the George Foreman Grill. More on this innovative product and its impact below.
The George Foreman Grill: A Game-Changer
When the George Foreman Grill debuted in 1994, it transformed the home-cooking industry. The grill’s unique sloped design allowed excess fat to drain away from the food, a feature that appealed to health-conscious consumers. Though the idea originated with inventor Michael Boehm and his business partner Robert Johnson, it was Foreman who helped bring the product to life.
Initially, Foreman had no connection to the grill before agreeing to endorse it. Despite not using it prior to his endorsement, Foreman quickly became a believer in the product after trying it. His infectious personality and everyman charm made him the perfect spokesman for the grill, which was marketed by Salton, Inc.
Sales soared as Foreman’s reputation resonated with consumers, and by 1999, over 20 million units had been sold globally. Salton eventually bought out Foreman’s rights for $137.5 million, a decision that paid off handsomely. Foreman’s royalty earnings soared to $8 million per month at one point. Over the years, his total earnings from the grill exceeded $250 million—far more than he made during his entire boxing career.
Financial Impact and Endorsement Success
By the late 1990s, the George Foreman Grill had become a household name. The product, with Foreman’s enthusiastic endorsement, succeeded in transcending the usual limits of infomercial marketing. Foreman’s catchphrase, “It’s so good I put my name on it,” became a cultural reference, and the product line expanded to include various sizes and features.
Not only did the grill bring Foreman extraordinary financial rewards, but it also served as a model for other athletes looking to venture into business. His success with the grill became a defining moment in celebrity endorsements and set a high bar for how retired athletes could transition into entrepreneurship.
The Boxer Behind the Name
Born on January 10, 1949, in Marshall, Texas, George Foreman’s journey to fame began with boxing. He grew up in Houston, Texas, in a troubled environment. By age 15, Foreman had dropped out of school and found himself in trouble with the law. However, he turned his life around by joining the Job Corps, where he earned his GED and started training as a carpenter and bricklayer. Boxing was a natural next step, and his training in Pleasanton, California, marked the beginning of his future success.
Foreman rose to prominence in 1968 when he won the gold medal in the heavyweight division at the Mexico City Olympics. His victory solidified him as a future force in professional boxing. Just a year later, Foreman turned pro, quickly establishing himself as a dominant knockout artist.
Reign as Heavyweight Champion
By 1973, Foreman had achieved the pinnacle of his career by defeating Joe Frazier for the heavyweight title. His reign, however, was short-lived. In 1974, he faced Muhammad Ali in the iconic “Rumble in the Jungle,” where Foreman was defeated in a stunning upset. Though he lost the title, this fight remains one of boxing’s most legendary bouts.
After a few more years of boxing, Foreman made an unexpected retirement in 1977. During his time away from the ring, he became an ordained minister and focused on his faith. However, his financial troubles led him to return to boxing in 1987. At 38 years old, Foreman staged a remarkable comeback and regained the heavyweight title at 45, becoming the oldest boxer to hold the championship.
A Boxing Legacy
By the time he officially retired in 1997, George Foreman’s boxing career had left a profound legacy. He finished with a record of 76 wins, 68 of which were knockouts, and just five losses. Foreman’s impressive performance in the ring earned him induction into the International Boxing Hall of Fame in 2003. He is widely regarded as one of the greatest heavyweights in history, ranking among the top 10 boxers of all time.
From Boxer to Entrepreneur
While boxing contributed to Foreman’s early wealth, it was his entrepreneurial ventures that secured his financial future. The George Foreman Grill was a game-changer, and its success overshadowed even his boxing career in terms of revenue. The grill’s simple yet innovative design made it an instant hit in the mid-1990s, and Foreman’s endorsement played a key role in its success.
The grill’s design allowed fat to drain away from the food, appealing to the health-conscious market of the time. Foreman’s infectious personality and relatable demeanor made him the perfect spokesperson. His involvement in the grill’s marketing and sales took him from a retired boxer to a business mogul, demonstrating the potential for athletes to thrive outside the ring.
Personal Life and Family
George Foreman’s personal life was marked by his numerous marriages and his dedication to his family. He was married to Mary Joan from 1985 until his passing in 2025, and they had a large family, with Foreman fathering 12 children across multiple relationships. Foreman’s commitment to education was evident in his insistence that all of his children graduate from college. While some of his children followed in his footsteps, others pursued careers in different fields, including boxing and music.
One of his sons, George III, has recently made a name for himself in the boxing world. However, Foreman’s daughter, Freeda, who also pursued boxing, tragically passed away in 2019.
Real Estate Investments
Over the years, George Foreman made significant investments in real estate. His early properties included a ranch in California, where he kept exotic pets. Later, Foreman owned a sprawling estate in Kingwood, Texas, and a luxury beachfront townhouse in Malibu, California. One of his most extravagant properties was a Mediterranean-style mansion in Huffman, Texas, complete with a massive garage and luxurious living space.
These real estate holdings reflected Foreman’s evolving lifestyle, as he transitioned from a boxer to a successful businessman with diverse investments.
