George Foreman, known as “Big George,” was an iconic American boxer, entrepreneur, minister, and author whose legacy spans sports, business, and philanthropy. Renowned for his two-time heavyweight boxing championships and Olympic gold medal, Foreman’s financial success was largely driven by his entrepreneurial ventures, most notably the George Foreman Grill.
At the time of his death on March 21, 2025, his net worth was estimated at £240 million This article explores Foreman’s career, earnings, personal life, assets, and lasting legacy.
George Foreman Career
Boxing Career
Born on January 10, 1949, in Marshall, Texas, George Foreman overcame a troubled childhood to become one of boxing’s greatest heavyweights. After dropping out of school at 15 and briefly turning to crime, he joined the Job Corps, earning his GED and training as a carpenter and bricklayer. His boxing journey began in 1967, culminating in a gold medal at the 1968 Mexico City Olympics, which he considered his proudest achievement. Turning professional in 1969, Foreman won 76 of 81 fights, with 68 knockouts, including a stunning second-round knockout of Joe Frazier in 1973 to claim the heavyweight title. His reign ended in 1974 with a loss to Muhammad Ali in the iconic “Rumble in the Jungle.”
Foreman retired in 1977 after a loss to Jimmy Young, becoming an ordained minister. Financial struggles prompted a remarkable comeback in 1987 at age 38. In 1994, at 45, he reclaimed the heavyweight title by knocking out Michael Moorer, becoming the oldest heavyweight champion in history. His boxing career earned him approximately £4 million by 1977 (equivalent to £16 million today), though bad investments and an extravagant lifestyle left him nearly bankrupt by 1987.
Entrepreneurial Ventures
Foreman’s wealth skyrocketed through his endorsement of the George Foreman Grill, launched in 1994 by Salton, Inc. Initially hesitant, he was persuaded by his wife to promote the fat-reducing grill, which became a global phenomenon, selling over 100 million units by 2009. Foreman earned 40% of the profits, reportedly receiving £3.6 million monthly at its peak. In 1999, Salton bought out his naming rights for £110 million in cash and stock.
Total earnings from the grill are estimated at £200 million, far surpassing his boxing income. Foreman also ventured into clothing lines, cleaning products, and endorsements for brands like Doritos, KFC, and Meineke, contributing nearly half of his wealth. His partnership in Panther Racing and authorship of 10 books, including autobiographies and health-focused titles, further diversified his income.
Media and Philanthropy
Foreman appeared on shows like The 700 Club, American Inventor, and Better Late Than Never, and had a cameo in Night at the Museum: Battle of the Smithsonian. His role as an executive producer for the 2023 biopic Big George Foreman added to his earnings. As a philanthropist, he founded the George Foreman Youth and Community Center in Houston, Texas, investing significant funds to support at-risk youth.
George Foreman Net Worth
As of his passing in 2025, George Foreman’s net worth was approximately £240 million. His income streams included:
- Boxing: £4 million by 1977, with a notable £10 million from his 1990 fight against Evander Holyfield. His 1990s comeback added roughly £24 million to his boxing earnings.
- George Foreman Grill: £200 million, including £110 million from the 1999 buyout and monthly royalties peaking at £3.6 million.
- Endorsements and Ventures: Nearly half his wealth came from endorsements, clothing, cleaning products, and media appearances, estimated at £100 million.
- Books and Media: His 10 books and TV appearances generated additional income, likely in the low millions.
His annual salary in later years was estimated at £12.8 million, driven by royalties and ongoing endorsement deals.
George Foreman Personal Life
Foreman’s early life in Houston’s Fifth Ward was marked by poverty and crime. Raised by his mother, Nancy, and stepfather, J.D. Foreman, he had six siblings. His transformation through the Job Corps set the stage for his boxing career. Foreman was married five times: to Adrienne Calhoun (1971–1974), Cynthia Lewis (1977–1979), Sharon Goodson (1981–1982), Andrea Skeete (1982–1985), and Mary Joan Martelly (1985 until his death).
He had 12 children five sons (all named George Edward Foreman) and seven daughters (Michi, Freeda, Georgetta, Natalia, Leola, Isabella, and Courtney). His daughter Freeda died by suicide in 2019. Foreman’s faith as a born-again Christian shaped his later years, leading him to become a minister and focus on philanthropy.
George Foreman Assets
Foreman’s wealth was reflected in his extensive asset portfolio:
- Real Estate: He owned a 300-acre estate, The Foreman Ranch, in Marshall, Texas, valued at over £8 million, a Houston-area home, and a £1.84 million Malibu townhome. He also held commercial properties, including a Houston shopping center.
- Car Collection: Foreman owned over 50 vehicles, including classic and modern cars, some auctioned via Hagerty Marketplace.
- Investments: A trust fund from his early boxing earnings and diversified investments in consumer goods, real estate, and media ensured financial stability.
His approach to wealth management, including a 25% trust fund from boxing earnings, safeguarded his fortune after early financial missteps.
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George Foreman Health and Legacy
Foreman’s health was not publicly detailed at the time of his death at age 76, with his family stating he passed “peacefully” surrounded by loved ones. His legacy as a boxer, entrepreneur, and philanthropist is profound. Inducted into the World Boxing and International Boxing Halls of Fame, Foreman’s comeback and business acumen inspired generations. His grill revolutionized celebrity endorsements, and his youth center continues to impact communities.
FAQs
What was George Foreman’s net worth in 2025?
George Foreman’s net worth was approximately £240 million at the time of his death in 2025, primarily from the George Foreman Grill and endorsements.
How much did George Foreman earn from the George Foreman Grill?
He earned an estimated £200 million, including £110 million from the 1999 naming rights buyout and monthly royalties peaking at £3.6 million.
How much did Foreman earn from boxing?
Foreman earned about £4 million by 1977 and roughly £24 million from his 1990s comeback, totaling £28 million from boxing.
Who inherits George Foreman’s estate?
His estate is expected to be divided among his wife, Mary Joan Martelly, and his 11 surviving children, though no official details have been released.
What assets did George Foreman own?
He owned a £8 million Texas ranch, a Houston home, a £1.84 million Malibu townhome, commercial properties, and a collection of over 50 cars.
What was Foreman’s most significant achievement?
Foreman considered his 1968 Olympic gold medal his proudest achievement, though his 1994 heavyweight title win at 45 is also iconic.
How did Foreman recover from financial struggles?
After nearly going bankrupt in 1987, he staged a boxing comeback and secured the lucrative George Foreman Grill deal.
What other ventures contributed to Foreman’s wealth?
Endorsements for brands like Doritos and KFC, clothing and cleaning product lines, book sales, and media appearances added nearly £100 million to his wealth.
