George Edward Foreman's net worth: From rags to riches
George Edward Foreman is an American retired professional boxer, businessman, author and minister. He is best known for making a boxing comeback at 38 to become history's oldest world heavyweight champion. Coming from a humble background, the former sportsman has worked to the top to rank as one of the richest boxers. So, how much is George Edward Foreman's net worth?
Source: UGC
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Foreman captivated the sports world not only for his athleticism but also for his inspiring comeback story. On the verge of bankruptcy, he returned to the boxing arena, a mission many saw as impossible.
The Ring ranked him as the ninth-greatest puncher ever in 2002. But beyond boxing, George is an entrepreneur widely recognized for promoting the George Foreman Grill. Here is a look at his career achievements and investments.
George Foreman's profile summary and bio
| Full name | George Edward Foreman |
| Nickname | Big George |
| Gender | Male |
| Date of birth | 10 January 1949 |
| Age | 75 years old (2024) |
| Zodiac sign | Capricorn |
| Birthplace | Marshall, Texas, USA |
| Nationality | American |
| Ethnicity | African-American |
| Religion | Christianity |
| Height | 6’4’’ (193 cm) |
| Weight | 260 lbs (118 kg) |
| Hair colour | Black |
| Eye colour | Dark brown |
| Sexuality | Straight |
| Marital status | Married |
| Spouse | Mary Joan Martelly |
| Children | 12 |
| Parents | Leroy Moorehead and Nancy Foreman |
| Siblings | 6 |
| Profession | Former professional boxer, entrepreneur, author and minister |
| Net worth | $300 million |
| Social media | InstagramX (Twitter)Facebook |
How old is George Foreman?
George Edward Foreman (aged 75 as of 2023) was born on 10 January 1949 in Marshall, Texas, USA. He grew up alongside his six siblings in the Fifth Ward community of Houston, Texas.
Source: Original
Even though the retired boxer was raised by J.D. Foreman, whom his mom Nancy had married when he was a small child, his biological dad was Leroy Moorehead. At age 15, Edward dropped out of school and spent time as a mugger.
However, he changed his mind at 16 and decided to sign up for Job Corps after seeing their ad on TV. The author later earned his GED and trained to become a bricklayer and carpenter. With the assistance of a supervisor, he relocated to Pleasanton, California, where he began to train.
What is George Edward Foreman's net worth in 2024?
Wealthy Gorilla estimates George Foreman's net worth to be $300 million. He amassed most of his wealth from promoting and selling the George Foreman Grill and his successful boxing career that spanned over two decades.
How did George Foreman get so rich?
The former professional boxer accumulated his wealth through various income-generating channels. Here is a glimpse of some of his revenue streams, some of which continue to make him millions.
Boxing career
Foreman kickstarted his career on a high note, winning a gold medal in the 1968 Mexico City Olympic Games in the heavyweight/boxing division. His opponent, Jonas Cepulis, had been in the game for 12 years and was ten years older than Edward.
Source: UGC
The retired sportsman maintains that this was the accomplishment he was most proud of ever. He turned pro in 1969, winning 13 fights and 11 total knockouts.
His impressive winning streak continued until 1974, when he faced Muhammad Ali and Norton. The former became the first boxer to defeat Foreman. After a subsequent loss to Jimmy Young, George retired in 1977.
He transitioned to become a minister of God’s word and even set up George Foreman’s youth centre. In 1987, the former sportsman made his boxing comeback, looking to raise money for the youth centre.
Edward fought his last fight in 1997 at the age of 48. His final record was 76 wins (68 knockouts) and five losses. He has been ranked history's eighth-greatest heavyweight.
George Foreman Grill
In 1994, George became a spokesperson for Salton, Inc., advertising their fat-reducing grill. As per Market Realist, the company paid him $138 million to name their product after him in 1999. Prior to that, George was paid about 40% of the profits on each grill sold.
He earned about 4.5 million a month in payouts at its peak. As of 2009, over 100 million grills had been sold. George Foreman Grill sales yielded the retired sportsman over $200 million by 2011. This amount was significantly more than what he made as a boxer.
Source: UGC
Writing career
The retired boxer has written several books, including his autobiography, By George and his cookbook, George Foreman’s Indoor Grilling Made Easy. Additionally, he served as the executive producer of Big George Foreman, a film about his sporting and spiritual life.
George Foreman’s real estate
Edward and his spouse Mary Joan own a massive 300-acre estate called The Foreman Ranch in Huffman, Texas. Omni Home Ideas reports the luxurious mansion is estimated to be worth over $10 million.
The property features over 12,000 square feet of living space, six bedrooms and ten bathrooms. In addition, George Foreman’s house boasts a modern gym, a pool and a spa.
How many cars does George Foreman have?
Like most famous car collectors, Big George keeps his collection private; therefore, estimating how many cars he has is difficult. Nonetheless, a 2017 YouTube video showcases his car collection as part of an interview with Graham Bensinger.
Surprisingly, the entrepreneur auctioned off more than 50 of his prized rides on Hagerty Marketplace in December 2023. He revealed the reason for selling his cars, saying:
I have been a car collector and enthusiast most of my life, but the time has come to share my cars with other like-minded enthusiasts.
George Foreman’s cars auctioned were highlighted with many marques, including Chevrolet, Ferrari, Chrysler Rolls-Royce, Dodge, BMW, Porsche, Bentley, Volkswagen and Plymouth.
Who is the richest boxer of all time?
Source: UGC
According to Celebrity Net Worth, Floyd Mayweather is the wealthiest boxer, with an estimated net worth of $400 million. He is regarded as the world’s best pound-for-pound boxer in ten years.
George Edward Foreman’s net worth is a testament to his determination, resilience and ability to reinvent himself. From a troubled childhood to his boxing success and business triumph, Foreman’s story inspires many to pursue their dreams relentlessly.
READ ALSO: Tim Tebow's net worth: How much does the NFL star make?
As published on Briefly, Tim Tebow's net worth has inspired the upcoming generation of athletes in the National Football League and, more recently, the Baseball League.
His several investments in ventures outside of sports are a testament to his business acumen. Still, he has even more to show for his careful entrepreneurship side: a magnificent mansion and an array of flashy and exquisite cars.
Source: Briefly News
