George Foreman, a name that resonates across multiple generations, built a remarkable legacy that extends well beyond the boxing ring. At the time of his passing in 2025, Foreman had amassed a net worth of approximately $300 million, thanks not only to his championship-caliber boxing career but also to his legendary business acumen.
Early Life and Rise to Boxing Fame
Born on January 10, 1949, in Marshall, Texas, George Edward Foreman grew up in Houston in a modest household with six siblings. Raised by J.D. Foreman, George struggled as a troubled youth before turning his life around through the Job Corps program. After earning his GED, he learned trades such as carpentry and bricklaying, but it was in Pleasanton, California, where Foreman discovered his passion for boxing.
His breakout moment came when he won the gold medal in the heavyweight division at the 1968 Mexico City Olympics. At just 19 years old, Foreman defeated seasoned fighter Jonas Cepulis, setting the stage for a professional career that would later enshrine him among the sport’s greats.
Boxing Career: A Story of Triumph and Comeback
Turning professional in 1969, Foreman quickly gained a reputation as a formidable knockout artist. By 1973, he reached the pinnacle of the sport by defeating Joe Frazier and becoming the undisputed heavyweight champion. However, his reign was brief. In 1974, he famously lost to Muhammad Ali in the “Rumble in the Jungle,” a bout that remains one of boxing’s most storied contests.
After an unexpected retirement in 1977, Foreman became an ordained minister. However, financial difficulties forced him back into the ring in 1987. His comeback culminated in 1994 when, at 45, he knocked out Michael Moorer to reclaim the heavyweight championship, making him the oldest heavyweight champion in history. He retired for good in 1997 with a stellar record of 76 wins (68 by knockout) and only five losses.
The George Foreman Grill: A Billion-Dollar Move
Foreman’s financial fortune was not secured in the ring but in the kitchen. In 1994, he became the face of the George Foreman Lean Mean Fat-Reducing Grilling Machine, an invention by Michael Boehm and Robert Johnson. His charismatic presence and authentic personality transformed the product from a simple health appliance into a household staple.
Initially receiving about $138,000 in monthly royalties, Foreman saw his income soar as grill sales exploded. By 1999, over 20 million units had been sold, leading Salton, Inc. to buy out Foreman’s share for a reported $137.5 million in cash and stock. Foreman later revealed he earned well over $250 million from the deal, with peak monthly payouts reaching $8 million. The grill’s success not only bolstered Foreman’s wealth but also cemented his image as a beloved and relatable figure in American homes.
Personal Life and Family
George Foreman married his wife Mary Joan in 1985, and they remained together until his passing in 2025 at the age of 76. Foreman had a total of 12 children from multiple relationships and marriages. Notably, all five of his sons share his name: George Edward Foreman. His daughters also carry the name George as part of their own.
Foreman’s children followed diverse paths. George Foreman III pursued a boxing career, winning his first professional fight. His late daughter Freeda Foreman also had a brief boxing career, retiring with a 5-1 record before tragically passing away in 2019. Daughter Natalie ventured into music as an aspiring singer.
Business Ventures and Car Collection
Beyond the grill, Foreman became a savvy entrepreneur and television personality, famously endorsing Meineke mufflers and other products. His love for automobiles was well-documented, culminating in the sale of his extensive car collection in 2023. Auctioned through Hagerty Marketplace, the sale featured over 50 classic vehicles and attracted collectors globally.
Real Estate Holdings
Foreman’s real estate portfolio reflected his success. In the 1970s, he owned a 4-acre ranch in Livermore, California, where he famously housed exotic pets. In later years, he resided in Kingwood, Texas, and owned a sprawling 300-acre ranch in his hometown of Marshall, Texas. In 2002, he expanded his holdings with a Malibu beachfront townhouse.
His most notable property was a 29-acre estate in Huffman, Texas, featuring a nearly 12,000-square-foot mansion and an 11,000-square-foot garage capable of housing up to 55 cars. This luxurious property was listed for $9.5 million in 2024.
Legacy Beyond the Ring
George Foreman’s journey from a troubled youth to a global icon is a testament to resilience and reinvention. His remarkable second act as a businessman and pitchman surpassed his boxing success, proving that athletes can thrive well beyond their prime.
Foreman’s story remains one of the most inspiring narratives in both sports and business history, and his legacy will continue to impact generations to come.