George Foreman is a retired American boxer and highly successful entrepreneur who has a net worth of $300 million. A two-time World Heavyweight Boxing Champion, Olympic Gold Medalist, multimillionaire entrepreneur, and born-again Christian minister, George Foreman represents an amazing story of success and perseverance. George has the net worth of a champ, but you’d be surprised to learn how little of his fortune actually comes from boxing. In fact, after turning professional in 1969 and stacking up an impressive career of 76 wins out of 81 fights, by the 1980s, Foreman had a relatively small net worth of $5 million at the peak of his boxing career. Fortunately, thanks to a very popular grill that bears his name, Foreman is a very wealthy man today.
Who is George Foreman
George Foreman is a former professional boxer, Olympic gold medalist, and successful entrepreneur. He rose to fame after winning the heavyweight gold medal at the 1968 Olympics. George Foreman became the heavyweight champion in 1973 but lost the title to Muhammad Ali in 1974. After retiring from boxing, he found success as an entrepreneur with the George Foreman Grill. He made a comeback in boxing in the 1990s, becoming the oldest heavyweight champion at the age of 45. Throughout his career, Foreman has been involved in philanthropy and television.
George Foreman Height
George Foreman stands at an impressive height of 6 feet 3 inches (1.92 meters). This towering stature contributed to his powerful presence in the boxing ring, allowing him to dominate opponents throughout his career. His physical attributes, combined with his skill and determination, played a crucial role in his success as a two-time World Heavyweight Champion.
George Foreman Early Life
The name George Foreman means different things to different generations. Some folks will recall the young 24-year-old Texan who delivered a TKO to the undefeated Smokin’ Joe Frazier in 1973. The same fighter whose first defeat was to Muhammad Ali in the 1974 Rumble in the Jungle. The Rumble was a historic battle that took place in Zaire and became the subject of the Oscar-winning documentary “When We Were Kings.” If you are younger, George Foreman is probably better known as that jolly guy on TV who sells Meineke mufflers and the George Foreman Lean Mean Fat Reducing Grilling Machine.
George Foreman Boxing Career
Foreman started his boxing career out with a bang, winning a gold medal in the 1968 Mexico City Olympic Games in the boxing/heavyweight division. He defeated Jonas Cepulis, a 29-year-old veteran, 10 years older than Foreman and with a 12-year career already under his belt. Foreman walked around the ring carrying a US flag and bowing to the crowd after his victory. He has said that earning 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 them total knockouts. In 1970, he won all 12 of his bouts, and the next year, he won seven more fights by knockout. He continued his impressive winning streak until 1974 when he faced tougher opponents, such as Ken Norton and Muhammad Ali. For his fight against Ali, he traveled to Zaire, and the match was being touted as The 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 devastating loss to Jimmy Young.
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George Foreman Rumble In The Jungle
George Foreman’s record eventually came to an end with his most famous fight against Muhammad Ali in Zaire, commonly known as the Rumble In The Jungle. It cannot be overstated just how massive Foreman’s boxing reputation was at this point in time, as his previous two fights had seen him taking on undefeated heavyweight champion Joe Frazier and former heavyweight champion Ken Norton. Foreman bested both champions in only two rounds each, leaving him highly favored to destroy Muhammad Ali in the ring. Though Foreman ultimately lost the match against Ali, boxing fans, commentators, and peers of the couple were on the edge of their seats for weeks leading up to the landmark fight.
George Foreman Transition to Business
The George Foreman Grill
One of the most significant contributors to George Foreman’s net worth is the George Foreman Grill. Launched in 1994, the grill became a household name due to its unique design and health benefits. Foreman’s endorsement of the product played a pivotal role in its success. The grill’s popularity soared, and it reportedly sold over 100 million units worldwide.
Financial Success from the Grill
Foreman’s deal with Salton Inc., the manufacturer of the grill, was initially based on a share of the profits. However, recognizing the product’s immense potential, Salton later offered Foreman a buyout. In 1999, Foreman agreed to a buyout deal worth $137.5 million in cash and stock options. This deal significantly boosted his net worth and established him as a savvy businessman.
George Foreman Other Pursuits
Foreman is a partner in the Panther Racing Indy Car team. He has authored 10 books, and he still makes the occasional appearance on TV (guest on “The 700 Club,” judge on “The American Inventor,” “The Masked Singer”) and film (cameo in “Night at the Museum: Battle of the Smithsonian).
George Foreman Personal Life
George and his wife, Mary Joan, have been married since 1985. He has a total of 12 children from his various relationships. Foreman had four previous marriages: 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. All five of his sons are named George Edward Foreman and his daughters have George as a middle name (except for one daughter named Georgetta).
FAQs
What is George Foreman’s net worth?
George Foreman’s net worth is approximately $300 million, primarily due to his boxing career and successful business ventures, particularly the George Foreman Grill.
When did George Foreman start boxing?
Foreman began boxing as an amateur and gained recognition by winning the heavyweight gold medal at the 1968 Olympics in Mexico City. He turned professional in 1969.
How many fights did George Foreman have in his career?
George Foreman had a total of 81 professional fights, winning 76 and losing 5, with a notable number of his victories coming by knockout.
What was the “Rumble in the Jungle”?
The “Rumble in the Jungle” was a historic boxing match between George Foreman and Muhammad Ali that took place on October 30, 1974, in Zaire. Foreman lost the match, marking the first time he had been knocked down.
Conclusion
George Foreman’s journey from a young Olympic gold medalist to a two-time World Heavyweight Champion and successful entrepreneur is a testament to his resilience and versatility. With a net worth of $300 million, his success extends beyond the boxing ring, largely due to the remarkable popularity of the George Foreman Grill. His ability to reinvent himself after retiring from boxing, along with his philanthropic efforts and family commitments, highlights his multifaceted character. George Foreman not only exemplifies athletic prowess but also serves as an inspiring figure in business and personal development, showing that with determination and adaptability, remarkable achievements are possible.
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