George Foreman was an iconic American boxer, entrepreneur, and former heavyweight champion who had a net worth of $300 million at the time of his death. While Foreman earned millions during his boxing career, the overwhelming majority of his fortune came from one of the most successful celebrity endorsement deals of all time — the George Foreman Grill. Here is a detailed look of George Foreman net worth.
Early Life
George Edward Foreman was born on January 10, 1949, in Marshall, Texas, and grew up in Houston with six siblings. He was raised by J.D. Foreman, though his biological father was Leroy Moorehead. As a teenager, Foreman struggled with discipline and dropped out of school at 15, becoming involved in street crime.
Determined to change his life, Foreman joined Job Corps, where he earned his GED and trained as a carpenter and bricklayer. It was during this period that he discovered boxing, a decision that would completely transform his future.
Boxing Career
Foreman burst onto the international stage by winning gold at the 1968 Mexico City Olympics, defeating experienced heavyweight Jonas Čepulis. He turned professional in 1969 and quickly built a reputation as a devastating knockout artist.
In 1973, Foreman defeated Joe Frazier to become the undisputed heavyweight champion of the world. His reign ended the following year when he lost to Muhammad Ali in the legendary “Rumble in the Jungle”. After another loss in 1977, Foreman retired from boxing and became an ordained minister.
Financial Collapse and Comeback
Despite earning millions in the ring, Foreman’s wealth was almost completely gone by 1987. Facing bankruptcy, he made the bold decision to return to boxing at age 38. Against all odds, Foreman reclaimed the heavyweight title in 1994 by knocking out Michael Moorer, becoming the oldest heavyweight champion in history at age 45.
He officially retired for good in 1997 with a final professional record of 76 wins and 5 losses, including 68 knockouts.
George Foreman Grill
Foreman’s true fortune came not from boxing, but from the George Foreman Lean Mean Fat-Reducing Grilling Machine, which launched in 1994. The countertop grill became a massive commercial success, selling over 100 million units worldwide.
Foreman earned staggering royalties from the product. At his peak, he was making as much as $8 million per month. In 1999, the company behind the grill bought out Foreman’s rights for $137.5 million in cash and stock. His total earnings from the grill are estimated to exceed $250 million, dwarfing his boxing income.
Car Collection
In November 2023, Foreman auctioned off his extensive car collection, featuring over 50 classic and exotic vehicles. Highlights included a 2005 Ford GT, a Ferrari Testarossa, and a 1963 Corvette Split-Window Coupe. The auction attracted major attention and showcased Foreman’s lifelong passion for automobiles.
Personal Life
Foreman was married four times before marrying Mary Joan, who remained his wife from 1985 until his death in 2025. He had 12 children, famously naming all five of his sons George Edward Foreman. Several of his children pursued careers in sports and entertainment, continuing the family legacy in different fields.
Real Estate
Over the years, Foreman owned multiple high-value properties, including ranches in Texas, a beachfront townhouse in Malibu, and a massive Mediterranean-style estate in Huffman, Texas. The Huffman property featured nearly 12,000 square feet of living space and an 11,000-square-foot garage capable of housing 55 cars. It was listed for $9.5 million in late 2024.
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