In 1974, he lost the iconic “Rumble in the Jungle” match against Muhammad Ali, where Ali’s famous “rope-a-dope” strategy led to Foreman’s first professional defeat.
Following another loss in 1977, Foreman retired from boxing, sitting on an estimated $5 million fortune. Unfortunately, bad investments and lavish spending nearly drove him to bankruptcy by the late 1980s.
But instead of fading away, Foreman did what few athletes could—he made a historic comeback.
The Comeback: A Second Shot at Greatness
At the age of 38, Foreman shocked the world by returning to boxing in 1987. Over the next 10 years, he silenced doubters, eventually reclaiming the World Heavyweight Championship in 1994 at the age of 45—making him the oldest heavyweight champion in history.
This comeback not only secured his legacy but also revived his financial situation, paving the way for his biggest business venture yet.
How George Foreman Made $200 Million from a Grill
While Foreman’s boxing career was remarkable, his true financial success came outside the ring. In 1994, he partnered with Salton, Inc., lending his name to what became the George Foreman Grill.
🔹 At its peak, Foreman earned $4.5 million per month in royalties.
🔹 In 1999, Salton paid him $138 million to buy out his name rights.
🔹 Overall, he made over $200 million from the grill, far more than his entire boxing career.
The grill’s massive success made Foreman a household name, selling over 100 million units worldwide.
Other Business Ventures and Investments
Beyond the grill, Foreman has successfully diversified his wealth through:
✅ Endorsements – From Meineke mufflers to other household brands.
✅ Books – He has authored 10 books on topics ranging from boxing to entrepreneurship.
✅ Television – Guest appearances on “The 700 Club,” “The Masked Singer,” and more.
✅ Motorsports – Partner in the Panther Racing Indy Car team.
✅ Real Estate – Owns a 300-acre ranch in Marshall, Texas, along with properties in Houston.
These investments have ensured that his wealth continues to grow even after retirement.
Personal Life and Family
Foreman has been married five times and has 12 children. Since 1985, he has been married to Mary Joan, and they continue to enjoy a stable life together.
One of the more unique aspects of Foreman’s personal life is that he named all five of his sons “George Edward Foreman”. When asked why, he famously said:
“I named them all George so they would always have something in common. If one of us goes up, we all go up together.”
His daughters also have variations of his name, except one daughter named Georgetta.
Children Following in His Footsteps
Several of Foreman’s children have pursued careers similar to their father’s:
- George Foreman III has followed in his father’s boxing footsteps.
- Freeda Foreman had a brief boxing career (5-1 record) before tragically passing away in 2019.
- Natalie Foreman has pursued a career in music.
Foreman has insisted that all of his children obtain a college degree, reinforcing his belief in education and discipline.
George Foreman’s Legacy: More Than Just Boxing
George Foreman is proof that financial success isn’t just about winning championships—it’s about smart decisions and reinvention. From Olympic gold medalist to world champion and one of the greatest entrepreneurs in sports history, his story is one of perseverance and wisdom.
Key Takeaways from His Success:
✔ Resilience – Came back from financial ruin to rebuild his empire.
✔ Smart Branding – Turned a simple kitchen appliance into a $200 million success.
✔ Diversification – Invested in businesses outside of boxing, ensuring long-term wealth.
✔ Family Legacy – Encouraged education and career independence for his children.
At 76 years old, Foreman remains an active philanthropist, entrepreneur, and motivational speaker, proving that success isn’t just about what you earn—it’s about how you impact others.
Final Thoughts: The Legacy of a Champion
With an estimated net worth of $300 million, George Foreman’s financial journey is as inspiring as his boxing career. From winning Olympic gold to revolutionizing kitchen appliances, he has shown the power of hard work, reinvention, and smart financial choices.
Today, Foreman’s legacy extends beyond the ring, proving that success isn’t just about throwing punches—it’s about seizing opportunities and making the right moves.
