George Foreman Net Worth 2020: The net worth of George Foreman came as a result of the quest to know and educate the public as many has often asked what is George Foreman’s Net Worth? George Foreman is a retired American boxer and a very successful entrepreneur, whose fortune is $ 300 million.
George Foreman has a net champion net worth, but you’d be surprised how little his fortune boxing actually brings.
Date of Birth:
Jan 10, 1949 (71 years old)
6 ft 3 in (1.92 m)
Professional Boxer, Entrepreneur, Actor, Minister, Author
United States of America
George Foreman Net Worth 2020:
George Foreman, nicknamed “Big George”, is a former American professional boxer with sponsors like Nike, Mcdonalds, and Doritos. He is a two-time world heavyweight champion and Olympic gold medalist. His source of wealth were through winnings, endorsements, and business ventures.
He is the oldest boxer to win the World Heavyweight Championship, which he won after retiring before age 10 and the name of his last spouse has been Mary Joan Matelly.
In fact, after turning pro in 1969 and amassing an impressive career of 76 wins out of 81 fights, Foreman had a relatively small net worth of $ 5 million by the 1980s.
Fortunately, thanks to the very popular grill that bears his name, Foreman is a very wealthy man today. Two-time world heavyweight boxing champion, Olympic gold medalist, multimillionaire entrepreneur and reborn Christian priest, George Foreman is an amazing story of success and tenacity.
Early life: The name George Foreman means different things to different generations. Some people will remember the young 24-year-old Texan who, in 1973, TKO inflicted a TKO on the undefeated Smokin ‘Joe Fraser.
The same fighter whose first defeat was inflicted on Muhammad Ali in 1974. The battle was a historic battle that took place in Zaire and was the subject of the Oscar-winning documentary When We Were Kings. If you’re younger, George Foreman is probably better known as that funky guy on TV who sells Meineke mufflers and George Foreman’s lean fat grills.
Why famous: George Foreman unexpectedly won the 1968 Olympics when he took the heavyweight title. Turning pro, he quickly made his way up the career ladder, winning the heavyweight title in 1973 against Joe Frazier. He successfully defended his title twice before losing the famous Rumble in the Jungle fight to Muhammad Ali in Zaire in 1974.
Foreman returned from retirement in 1987 after 10 years defeating Michael Moorer in both the IBF and WBA heavyweight titles. He retired for the second time in 1997. His career record was 76-5, 68 wins by knockout. Foreman was also well known for his support for the Foreman Grill, with over 100 million units sold.
Date of birth: 10 January 1949
Place of birth: Marshall, Texas, USA
Generation: Baby Boomer
Chinese Zodiac: Rat
Zodiac sign: Capricorn
George Foreman was born in Marshall, Texas on January 10, 1949. He grew up in Houston with six brothers and sisters. He was raised by J.D. Foreman, but his biological father was Leroy Moorehead.
net worth of George Foreman
George explained in his autobiography that he was a restless youth. He dropped out of school at fifteen and became a robber. A year later, he wanted to change his life and convinced his mother to enroll him in Job Corps. He wanted to get a GED through Job Corps and trained to be a carpenter and bricklayer. He began training boxing after moving to Pleasanton, California.
George Foreman’s confirmations: Foreman started out as a spokesman for Russell Hobbs Inc., a home appliance manufacturer.
He has served as an ambassador for several multinational brands including McDonald’s, Nike, Doritos, KFC, and Meineke.
In addition to this, he launched a line of eco-friendly cleaning products, a line of personal care products, a health cocktail, prescription shoes for diabetics and a restaurant franchise.
George Foreman Net Worth 2020
He is the only boxer who has made more money in the ring than his fights in the ring. He is also ranked # 2 on the list of Richest Boxers of All Time.
This is remarkable as he was near bankrupt in the early stages of his career, losing $ 5 million in winnings from bad investments. His current capital is $ 300 million.
Business ventures: Foreman’s career saw an impressive return to boxing after retirement. He attributed this to his healthy diet and lifestyle. This made him an icon in the fitness industry. He sold his name to Salton Inc. (now Spectrum Brands) to use it in a fat-burning grill.
In 1999, Foreman signed a contract with Salton for about $ 137.5 million over five years. Salton, Inc. I was looking for a representative of my fat-burning grill at that time. It is also said that Foreman had some influence on the development of the same fat-burning grill.
In addition to being paid to use his name ($ 137.5 million), he was paid about 40% of the profits on every grill sold (which at its peak brought him $ 4.5 million a month). Overall, the Spectrum Brands deal is estimated to have earned him about $ 200 million.
In 2013, Foreman launched the boxing business Foreman Boys Promotions. He also owns the online meat company George Foreman’s Butcher Shop, which sells all-natural beef from family farms.
He is a partner of the Panther Racing Indycar team. He has also written five books and still appears on television and in films. This consistent and constant expansion of his business empire contributed greatly to his wealth.
What is George Forman’s Net Worth?
Boxing Career: Foreman kicked off his boxing career with a bang, winning the gold medal at the 1968 Mexico City Olympics in the boxing / heavyweight division. He defeated Jonas Chepulis, a 29-year-old veteran, 10 years older than Foreman and with a 12-year career under his belt. Foreman walked around the ring with the US flag and bowed to the crowd after winning.
He said that winning the gold medal was the achievement he was most proud of in his entire career.
Foreman turned pro in 1969, winning 13 fights that year, 11 of which by knockout. In 1970, Foreman won all 12 of his fights, and the next year he won seven more fights by knockout. He continued his impressive winning streak until 1974, when he faced tougher rivals like Ken Norton and Muhammad Ali.
To fight Ali, he went to Zaire, and the match was advertised as “Rumble in the Jungle.” Ali defeated Foreman and became the first boxer to knock him down. Unable to secure another victory, Foreman retired in 1977 after a crushing defeat to Jimmy Young.
By this point, Foreman was sitting well on the pile of money he made from his historic matches. Sadly, by 1987, nearly all of that $ 5 million from boxing had been wasted on poor investments and an overly extravagant lifestyle.
George was literally on the verge of total bankruptcy, as he said in a recent interview; “It was so scary because you hear about homeless people, and I was just a shot, a shot from homelessness.” As such, Foreman began boxing again, making an impressive comeback that lasted in the late 1990s after he also became a boxing commentator for HBO.
Net Worth of George Foreman
George Foreman officially retired in 1997 at the age of 48. His most recent record was 76 wins (68 KOs) and only five losses. Foreman has been inducted into the World Boxing Hall of Fame and the International Boxing Hall of Fame. He was voted the eighth greatest heavyweight in history with the net worth of George Foreman to be $300million.
George Foreman Grill: Returning from retirement in the 90s, Foreman stated that his success was based on healthier lifestyles and nutrition. In 1994, he was approached by Salton, Inc. looking for a representative for their fat-burning grill. Foreman pledged, and by 2009 Grill had sold over 100 million units.
Foreman has never confirmed how much he earned from the endorsement, but we do know that Salton paid him $ 138 million in 1999 to use his name.
Prior to that, he was paid 40 percent of the profit on every grill sold, which at its peak earned him roughly $ 4.5 million a month.
He is estimated to have made over $ 200 million in grilling, significantly more than he earned as a boxer.
Other Targets: Foreman is a partner with the Panther Racing Indy Car team. He is the author of five books and still appears from time to time on television (guest at The 700 Club, judge at American Inventor) and films (cameo in Night at the Museum: Battle of the Smithsonian).
Personal life: His hard work is paid for by a 40-acre estate in Texas, where he lives with his fifth wife Mary Joan (married in 1985) and several of his twelve children. He had four previous marriages: Adrienne Calhoun in 1971-1974, Cynthia Lewis in 1977-1979, Sharon Goodson in 1981-1982, and Andrea Skeet in 1982-1985.
Married life details:
• 1971-12-24. Professional boxer George Foreman (22) marries Adrienne Calhoun.
1974-02-13 Professional boxer George Foreman (25) divorces Adrienne Calhoun after nearly three years of marriage.
1977-10-06 Professional boxer George Foreman (28) marries Cynthia Lewis
1979-08-03 Professional boxer George Foreman (30) divorces Cynthia Lewis after more than a year of marriage.
1981-09-15 Professional boxer George Foreman (32) marries Sharon Goodson.
• 1982-04-23 Professional boxer George Foreman (33) divorces Sharon Goodson after 7 months of marriage.
1982-04-28 Professional boxer George Foreman (33) marries Andrea Skeeta.
1985-02-04 Professional boxer George Foreman (35) divorces Andrea Skete after almost three years of marriage.
1985-03-25 Professional boxer George Foreman (35) marries Mary Martelli
All five of his sons are named George Edward Foreman, and his daughters have a middle name – George (except for one daughter named Georgette). George Foreman’s place of residence is Marshall, Texas, USA.
Foreman insisted that all of his children graduate, but that did not stop some of them from jumping into the boxing ring with a diploma in hand. George III is following in his father’s footsteps, having recently won his first professional boxing match.
Frida’s 31-year-old daughter had a short trading career with a 4-1 record. Natalie’s daughter has taken a different path and is an aspiring singer. While his brood is busy building their own careers, Pope George continues to seek new ways to grow his empire.
He has made donations to many charities, including $ 100,000 to the Houston AIDS Foundation’s Charitable Pantry, for which he received a Humanitarian Award.
He also received an honorary doctorate from Houston Graduate School of Theology for his charitable work with children.
Foreman built the George Foreman Youth and Community Center in 1984 with money he had saved over his eight years in retirement. He wanted to create a paradise for children where they can have fun.
Supported charities and foundations 2
George Foreman has supported the following charities listed on this site:
• 1968-10-26 Future heavyweight boxing champion George Foreman wins Olympic heavyweight gold medal when the final against Jonas Chepulis (Soviet Union) is stopped in the second round of the Mexico City Games.
• 1973-01-22 George Foreman by TKO Joe Fraser in two rounds to win WBC and WBA heavyweight boxing titles in Kingston, Jamaica; Frazier knocked down 3 times in the 1st and 2nd rounds
1973-09-01 In his first title defense, George Foreman retained his WBC and WBA heavyweight titles when he knocked out Jose “King” Roman of Puerto Rico in Round 1 in Tokyo, Japan
1974-03-26 George Foreman by TKO Ken Norton in 2 for the heavyweight boxing world title in Caracas, Venezuela.
• 1976-01-24 Former heavyweight boxing champion George Foreman knocks out Ron Lyle in round 5 at Caesar’s Palace, Las Vegas; Foreman knocked down twice in 4th place; Fight of the year in the ring
• 1990-01-15 42-year-old former world heavyweight boxing champion George Foreman stops Jerry Cooney in two rounds in Atlantic City in a non-title bout; Cooney’s last fight
• 1994-11-05 George Foreman (45) KO Michael Moorer wins heavyweight boxing championship
• 1995-03-04 George Foreman loses his WBA world boxing title by refusing to fight Tony Tucker.
• 1995-04-22 George Foreman defeats Axel Schultz by 12 points for the world heavyweight boxing title in Las Vegas.
• 1995-06-29 George Foreman loses his IBF boxing title after refusing to fight Axel Schultz again.