George Foreman Net Worth: How Much Does American Former Professional Boxer Make?

If you ask different generations who George Foreman is, you’ll get wildly different answers. Some remember him as the Olympic gold medalist and two-time World Heavyweight Boxing Champion who dominated the ring in the 1970s and then made an incredible comeback in the 1990s. Others know him as the charismatic entrepreneur who made millions off the George Foreman Grill. One thing is certain—Foreman’s story is one of resilience, reinvention, and remarkable success.

At 76 years old in 2025, Foreman is a retired athlete, a multimillionaire businessman, and a born-again Christian minister. His net worth is estimated at $300 million, a fortune that, surprisingly, comes more from his business ventures than his legendary boxing career.

So, how did Foreman go from near-bankruptcy to becoming one of the most successful athletes-turned-entrepreneurs of all time? Let’s break it down.

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Early Life and Humble Beginnings

George Edward Foreman was born on January 10, 1949, in Marshall, Texas. He grew up in Houston with six siblings, raised by J.D. Foreman, though his biological father was Leroy Moorehead.

Life wasn’t easy for young George. He dropped out of school at 15 and spent his teenage years involved in street crime. But a turning point came when he convinced his mother to enroll him in Job Corps, where he trained as a carpenter and bricklayer. More importantly, he discovered boxing, which would change his life forever.

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Boxing Career: From Gold Medalist to Heavyweight Champion

Foreman quickly rose through the ranks, and by 1968, he won a gold medal at the Mexico City Olympics in the heavyweight boxing division. He was just 19 years old, defeating a 29-year-old veteran, Jonas Cepulis, in a fight that showcased his raw power.

Turning professional in 1969, Foreman’s career took off. His record was staggering:

• 1969: 13 wins, 11 by knockout.
• 1970: 12 wins.
• 1971: 7 wins by knockout.

By 1973, Foreman faced Joe Frazier, the then-undefeated heavyweight champion, and won by TKO in the second round, cementing his reputation as one of the most feared boxers in history.

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But it wasn’t all smooth sailing. In 1974, Foreman fought Muhammad Ali in the legendary “Rumble in the Jungle” in Zaire. Foreman, the younger and stronger fighter, was expected to win. But Ali, using his famous “rope-a-dope” strategy, exhausted Foreman and knocked him out in the eighth round. It was Foreman’s first professional loss, and it sent him on a downward spiral.

After struggling to regain dominance, Foreman retired in 1977 following a loss to Jimmy Young.

Financial Struggles and a Stunning Comeback

Though Foreman had earned millions from boxing, bad investments and lavish spending nearly bankrupted him by 1987. In his own words:

“I was fractions, fractions from being homeless.”

To support his family, Foreman staged an unlikely comeback at 38 years old—an age when most fighters are long retired. He won fight after fight, proving that his power hadn’t faded. In 1994, at age 45, he became the oldest heavyweight champion in history, reclaiming his title 20 years after he first won it.

His final fight came in 1997 at age 48, retiring with an astonishing record of 76 wins (68 by knockout) and only five losses.

The George Foreman Grill: The Billion-Dollar Move

Foreman credits his second career success to adopting a healthier lifestyle during his comeback. In 1994, Salton, Inc. approached him to endorse a fat-reducing grill, believing that his name would resonate with health-conscious consumers. Foreman agreed—and the George Foreman Lean Mean Fat-Reducing Grilling Machine became an instant success.

By 2009, over 100 million units had been sold. While Foreman never disclosed his total earnings, reports suggest:

• He initially earned 40% of the grill’s profits, at one point making $4.5 million a month.
• In 1999, Salton paid him $138 million just for the rights to use his name.
• It’s estimated that Foreman has earned over $200 million from the grill, far more than his boxing earnings.

This deal made him one of the wealthiest former athletes in history.

Other Ventures and Television Career

Foreman’s business success didn’t stop with the grill. He has:

• Invested in auto repair shops (Meineke)
• Owned a stake in Panther Racing (IndyCar team)
• Written 10 books
• Made TV appearances (The Masked Singer, The 700 Club, The American Inventor)
• Had a cameo in the movie Night at the Museum: Battle of the Smithsonian

Personal Life: Family and Legacy

Foreman has been married five times but has been with his current wife, Mary Joan, since 1985. Together, they have 12 children.

In a humorous move, Foreman named all five of his sons “George Edward Foreman”. His reasoning?

“If one of us goes down, we all go down together.”

His daughters also carry variations of his name, with one exception—Georgetta.

Foreman is deeply involved in his children’s education, insisting they all earn a college degree, though some have dabbled in boxing. George III pursued professional boxing, while Freeda Foreman had a short career before her tragic passing in 2019 at age 42.

Real Estate: The Foreman Ranch

Foreman and his wife own a 300-acre estate in Marshall, Texas, known as The Foreman Ranch. They also have a home in Houston, where they enjoy their retirement.

A Legacy of Reinvention

Few athletes have successfully transitioned from sports icon to business mogul, but George Foreman has done it brilliantly.

At 76 years old, with a net worth of $300 million, he continues to inspire people—not just with his boxing achievements, but with his ability to reinvent himself and bounce back stronger than ever.

From a troubled youth in Texas to a world champion, from near-bankruptcy to a multimillionaire entrepreneur, George Foreman’s story is a testament to perseverance, smart decisions, and never giving up.

And if there’s one thing we can learn from him, it’s this:

You can always fight your way back, no matter how many times life knocks you down.