George Foreman is the perfect example of diversified income. There are few people today who can claim either as large a fortune as the former World Heavyweight Champion, or a portfolio as diverse. Looking into how boxers make money was interesting for me, it’s not a sport I’ve paid much attention to, and the money some of them pull in is impressive. With Foreman though I found that to be less than half of the picture. From businesses to endorsement deals, few in the industry have managed to spin their own personal brand into $250 million. I own a Foreman grill, and adore the thing. The money paid for his naming rights was massive, and the 40% per unit sold he took home mean that George Foreman made more money from the grill that bears his name than he ever made as a boxer.
So let’s break down his wealth, see how he became the man he is today.
George Foreman Net Worth 2018 – $250 Million
How Did George Foreman Make His Money & Wealth?
George Foreman is one of the greatest boxers of all time. His career in boxing spans two distinct periods, his early days, where he famously fought Muhammad Ali in the rumble in the Jungle, and his latter career, in the 90’s, where he became the oldest person to own and retain a heavyweight championship. His wealth is a combination of savvy business interests, boxing purses and one very famous endorsement deal. The above figure is a very conservative estimate, considering the sales of his eponymous grill it is likely his true net worth is a little bit more than $250 million.
I cannot find exact figures on the money George Foreman earned as a boxer, but going by the second fight against Joe Frazier, it was quite a lot. George Foreman had 81 bouts, 76 wins, 68 by KO. That is a hell of a record, and if we assume an average of $1 million per purse, with slow increments over the years, and we are looking at well over $100 million. But we aren’t even half way to the total figure I listed up there, and some of the fights happened in the seventies and eighties, by this stage most boxers have lost what money they earned in the ring. but George was a smart man, if not then he was advised very well.
The other pillar of his empire is the George Foreman grill. A wonderful product that lets you grill pretty much anything, and have the fat run off into a small container at the bottom of the grill. I have one, and use it all the time. The speed with which it cooks is amazing, lighting grilled cheese, or a quick whip up of grilled chicken on the side takes like ten minutes. The makers of the product wanted a big name to go with it. I have no idea why, but the attachment of Big George to the lean mean fat grilling machine was a marketing success, of the highest order. The grill is sold worldwide, and I know for a fact that George made $130+ million for his name rights alone. Add in the rumored 60% of the sales and we are looking at an absolutely staggering amount of money. George has of course put that money to good use, and spent a fair bit of it as well by the looks of it.
George Foreman Personal Life & FAQ
Is George Foreman Married?
George Foreman has been married five times by last count. He has been with his current wife, Mary Joan Martelly, since 1985, so that looks solid at least. Interesting fact, all of his sons are called George. He has five of them. He has two daughters to Mary Joan, and a further three to another relationship. He adopted two more in the last ten years.
Why are all his sons called George?
It is not for the comical too many blows to the head leaves one less able to remember multiple names gag. George has stated that he named all of his sons George as a kind of solidarity building thing. He wants them to know that they rise together, and they fall together.
Where is George Foreman from?
George was born in Marshal Texas, and grew up in the Fifth Ward Houston.
How many wins does George Foreman have as a boxer?
Foreman has had a total of 81 fights throughout his career. He won 76 of them. A total of five loses is a hell of a record when you consider that we was fighting well into his forties.
Where does George Foreman live? Pictures of George Foreman’s house.
George Foreman lives in a massive house on a massive ranch in the massive state of Texas. The place has many animals, mostly large birds, and a separate guest house, bigger than most peoples actual house.
What kind of car does George Foreman drive?
Foreman is a serious collector of cars. He owns hundreds of the things, and hides some from his wife, feeling a little bit of guilt there I assume. There is a wonderful video on YouTube showing off his showroom, and I highly recommend it to all enthusiasts out there.
Why was George Foreman selected for the face of the Grill?
The company that made the grill was looking for someone good for marketing. they offered it to Hulk Hogan as well, so you can see where they were going with it. Overall, it seems like they wanted to market the product to men and woman, and putting someone with a more macho persona helped them there. George sold it better than anyone I could have imagined, he was affable, and non threatening. As much as I love the Hulkster, I don’t think he cold have sold it like that.
How much did George Foreman make boxing?
If we’re talking purely in terms of the purse here, he pulled in around $50 million form just the fights.
Why did George Foreman return to boxing in his late thirties?
George was setting up youth programs in the late eighties, and needed more money to do so. he returned to boxing in 1987 and found himself a different kind of boxer. His health was still great, and he could still fight, but the rapid hard strikes were gone. replaced with a more methodical, precise style. He also found that he could keep it up for far longer than he used to. By the late eighties George had been putting his face on everything, thus re branding himself as the affable figure we know today. This mass endorsement mode for George is likely why the grilling company brought their product to his attention.