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Retired Boxer George Foreman Went Nearly Bankrupt and Then Made a Successful Comeback; What Is His Net Worth?

George Foreman fought Muhammad Ali in the famous “The Rumble in the Jungle” match where Ali defeated him and became the first boxer to knock Foreman down.

BY DEEP DAS BARMAN

PUBLISHED OCT 26, 2023

George Foreman is a two-time World Heavyweight Boxing Champion, Olympic gold medalist, and multimillionaire entrepreneur. Getty Images | Photo by Martin Rose

Name	George Foreman
Net Worth	$300 million
Salary	N/A
Annual income	N/A
Sources of income	Boxing, business ventures
DOB	10 January 1949
Age	74 years
Gender	Male
Nationality	United States of America
Profession	Retired boxer, business man

What is George Foreman's net worth?

Retired boxer and entrepreneur George Foreman has an estimated net worth of $300 million, according to Celebrity Net Worth. Former two-time world heavyweight boxing champion, Olympic gold medalist, and multimillionaire entrepreneur George Foreman has a life full of riches.

George Foreman arrives at Academy Awards Show | Getty Images | Photo by Bob Riha, Jr.

George Foreman's Career and Earnings

Foreman’s boxing career began in 1968 with a gold medal in the 1968 Mexico City Olympic Games in the boxing/heavyweight category. He turned pro in 1969 and went on to win 13 fights that year, with 11 being total knockouts.

In 1970, Foreman won all 12 of his bouts and continued his impressive winning streak until 1974. He fought Muhammad Ali in the famous “The Rumble in the Jungle” match where Ali defeated him and became the first boxer to knock Foreman down.

Muhammad Ali punches George Foreman during their world heavyweight title boxing match | Getty Images

Foreman retired in 1977 after a devastating loss to Shannon Briggs. Foreman returned to boxing as he claimed that he almost went bankrupt and homeless after his initial retirement. After his comeback, he won the heavyweight title again in 1994. He then etired for good in 1997 at the age of 48 with a final record of 76 wins (68 knockouts) and five losses. He was inducted into the World Boxing Hall of Fame and International Boxing Hall of Fame and was ranked as the eighth greatest heavyweight in history.

George Foreman walks away from champion Joe Frazier as he wins the world heavyweight championship | Getty Images

Surprisingly, very little of George Foreman’s fortune comes from boxing. As per Celebrity Net Worth, Foreman had a net worth of just $5 million at the peak of his boxing career. However, his entrepreneurial ventures like the “George Foreman Grill” paid off massively earning him hundreds of millions of dollars.

Other Ventures

In 1994, Foreman was approached by Salton, Inc., to become a spokesperson for their fat-reducing grill. In 1999, the company paid him $138 million to name their product after him as the “George Foreman Grill”. Initially, Foreman was paid 40% of the profits from the sale of each grill, and by 2009, the Grill had sold over 100 million units worldwide.

George Foreman during George Foreman Photocall at Trafalgar Square in London | Getty Images | Photo by Ferdaus Shamim

In an interview with AARP, Foreman was asked about his earnings from the deal. Foreman revealed that he earned more than $200 million and he was paid over $8 million per month at times. Thus, Celebrity Net Worth estimates that Foreman made about $250 million from the deal.

Apart from that, Foreman is also a partner in the Panther Racing Indy Car team and has authored 10 books. He has appeared on TV and continues to make occasional appearances in various shows. He also played a cameo in the film, “Night at the Museum: Battle of the Smithsonian”.

Personal Life

Foreman married Mary Joan in 1985. However, he has had several relationships and four marriages in total. He was married to 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. He has a total of 12 children, and all five of his sons are named George Edward Foreman and his daughters have George as a middle name.

Real Estate Assets and Car Collection

Foreman and his wife Mary Joan own a massive 300-acre estate called The Foreman Ranch in Huffman, Texas. The magnificent mansion is estimated to be worth over $10 million, as per Omni Home Ideas. The home features over 12,000 square feet of living space, six bedrooms, and ten bathrooms, and it houses memorabilia of Foreman’s career and other stunning artwork.

Further, the estate has a lake that is stocked with fish, several, biking trails, and a large gazebo. It also has a garage with 40 of Foreman’s luxury and sports vehicles.

In 2019, Foreman’s garage caught fire and it was reported that it contained a stunning multi-million dollar collection of 40 luxury cars, as per The Sun. The collection included a Ford GT, a Ferrari F40, a Ferrari 360, a Lamborghini Diablo, and a Rolls-Royce. Foreman took to Twitter to confirm that the fire was contained and no one was hurt.