George Foreman Net Worth: Early Years, Private Life& More!

By Jaslin Last updated Nov 19, 2022

George Edward Foreman (born January 10, 1949) is a former professional boxer, entrepreneur, clergyman, and author from the United States. He was known as “Big George” in boxing and competed between 1967 and 1997. He has two world heavyweight titles and an Olympic gold medal. He is best known as the inventor of the George Foreman Grill.

After a rough childhood, Foreman began boxing as an amateur and earned a gold medal in the heavyweight division at the 1968 Summer Olympics. After turning professional the following year, he won the world heavyweight title in 1973 with a dramatic second-round knockout of then-unbeaten Joe Frazier. He defended the championship twice before succumbing to Muhammad Ali in the legendary Rumble in the Jungle in 1974. After losing to Jimmy Young in 1977 and being unable to obtain another title shot, Foreman retired.

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George Foreman Early Years

To different generations, the name George Foreman symbolizes different things. Some may recall the 24-year-old Texan who knocked out the unbeaten Smokin’ Joe Frazier in 1973. The same fighter that suffered his first defeat at the hands of Muhammad Ali in the 1974 Rumble in the Jungle.

The Rumble was a historic conflict in Zaire that became the subject of the Academy Award-winning documentary When We Were Kings. If you’re younger, you’re probably more familiar with George Foreman as the jovial guy on TV who offers Meineke mufflers and the George Foreman Lean Mean Fat Reducing Grilling Machine.

On January 10, 1949, George Foreman was born in Marshall, Texas. He was raised in Houston with six siblings. J.D. Foreman reared him, although his real father was Leroy Moorehead. George described himself as a difficult adolescent in his book.

At the age of fifteen, he dropped out of school 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 intended to get his GED through Job Corps and work as a carpenter and bricklayer. After relocating to Pleasanton, California, he began boxing training.

George Foreman Career

Foreman began his boxing career with a bang, capturing a gold medal in the boxing/heavyweight division at the 1968 Mexico City Olympic Games. He overcame Jonas Cepulis, a 29-year-old veteran ten years Foreman’s senior and with a 12-year career under his belt. After his victory, Foreman walked around the ring waving a US flag and bowing to the audience. He stated that winning the gold medal was the proudest achievement of his career.

Foreman made his pro debut in 1969, winning 13 fights, 11 of which were knockouts. In 1970, Foreman won all 12 of his contests, and the following year, he won seven more by knockout. He kept his winning streak going until 1974 when he fought harder opponents like Ken Norton and Muhammad Ali. He flew to Zaire for his bout with 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 wealth from boxing had been lost due to poor investments and an excessive lifestyle. George was really on the point 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 destitute.” So Foreman returned to boxing, creating an astonishing comeback that lasted until the late 1990s, following which he became a boxing pundit for HBO.

At the age of 48, George Foreman officially retired for good in 1997. He finished with 76 wins (68 knockouts) and only five losses. Foreman was inducted into both the World and International Boxing Halls of Fame. He is regarded as the eighth-greatest heavyweight of all time.

When Foreman returned from retirement in the 1990s, he maintained that his success was due to a healthier lifestyle and nutrition. Salton, Inc. approached him in 1994, asking for a spokesperson for its fat-reducing grill. Foreman complied, and the Grill had sold over 100 million pieces by 2009.

Foreman has never stated how much money he got from the sponsorship, but Salton paid him $138 million for the right to use his name in 1999. Previously, he was paid 40% of the earnings on each grill sold, which amounted to nearly $4.5 million per month at its peak.

It is claimed that he has earned more than $200 million from the grill, far more than he did as a boxer. Foreman is a Panther Racing Indy Car team partner. He has written five books and continues to appear on television (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).

George Foreman’s Private Life

Since 1985, George and his wife Mary Joan have been married. From his numerous partnerships, he has a total of 12 children. 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 prior marriages. His five boys are all named George Edward Foreman, and all of his daughters have George as a middle name (except for one daughter named Georgetta).

Foreman has required that all of his offspring have a college education, but that hasn’t stopped a handful of them from entering the boxing ring with their diplomas. George III recently won his first professional boxing battle, 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 route and is an aspiring singer. While his children are busy establishing their own businesses, Papa George continues to expand his company.

George Foreman’s Net Worth

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 triumph and perseverance.