At the time of his death on March 21, 2025, former heavyweight champion and entrepreneur George Foreman had an estimated net worth of $300 million. While his early fame came from boxing, his true fortune was built outside the ring, through one of the most successful consumer product endorsements in history: the George Foreman Grill.
This guide explores how Foreman went from a world champion boxer to a multimillionaire businessman, how much he made from boxing versus the grill, and how his legacy continues to influence athletes and entrepreneurs today.
Early Life and Boxing Career
George Edward Foreman was born on January 10, 1949, in Marshall, Texas. Growing up in Houston’s Fifth Ward, he faced poverty and frequent trouble with the law before discovering boxing through the Job Corps program in the 1960s.
Foreman’s boxing career quickly soared:
| Highlights | Details |
| Olympic Gold Medal | 1968 Mexico City Olympics (Heavyweight Division) |
| Professional Debut | 1969 |
| First Heavyweight Title | 1973, defeating Joe Frazier |
| Record | 76 wins, 5 losses (68 by knockout) |
| Retirement (1st) | 1977, later returning in 1987 |
By the time of his final retirement in 1997, George Foreman had cemented his reputation as one of boxing’s hardest hitters, known for his immense power and resilience.
However, despite massive fame, Foreman’s net worth from boxing was relatively small compared to what came later.
Wealth from Boxing
During his active years, Foreman earned around $5 million from boxing, a respectable amount for the 1970s but modest compared to modern fighter earnings. His iconic “Rumble in the Jungle” bout against Muhammad Ali in 1974 reportedly brought him about $5 million, but high spending and poor investments depleted much of it.
By the mid-1980s, he had lost nearly all his wealth.
This financial collapse, combined with a personal spiritual awakening, motivated Foreman to return to boxing in 1987, at the age of 38, to rebuild his fortune.
That comeback turned out to be historic.
In 1994, Foreman, at age 45, knocked out Michael Moorer to regain the heavyweight title — making him the oldest heavyweight champion in history.
That victory not only reignited his popularity but also opened doors to endorsements that would define his financial future.
The George Foreman Grill: His Billion-Dollar Turnaround
The real engine of Foreman’s wealth was his partnership with Salton, Inc., the maker of the George Foreman Lean Mean Fat-Reducing Grilling Machine.
Origins of the Deal
In 1994, Salton approached Foreman to endorse a new type of countertop grill. He agreed, and his charisma turned the product into a phenomenon.
Record-Breaking Success
- Over 100 million units sold worldwide
- Became a pop-culture symbol of healthy eating
- Generated more than $200 million in royalties and licensing for Foreman
In a 2014 interview, he revealed he made “far more than $200 million”, at times earning $8 million per month during the peak years.
By 1999, he sold the naming rights for $138 million in cash and stock, securing his place among the world’s richest athletes.
Today, the George Foreman Grill remains one of the most profitable celebrity-endorsed products of all time, surpassing the lifetime earnings of most world champions.
George Foreman’s Net Worth Breakdown (2025)
| Asset Source | Estimated Value |
| Boxing Career Earnings | ~$5 million |
| George Foreman Grill & Endorsements | $250–$275 million |
| Investments & Real Estate | $15–$20 million |
| Books, Appearances, Royalties | $5 million+ |
| Total Net Worth (2025) | ≈ $300 million |
Foreman’s wealth outpaced other boxing icons like Mike Tyson and Evander Holyfield, both of whom faced financial difficulties. His post-retirement entrepreneurship transformed him from an athlete into a financial case study in brand reinvention.
Did George Foreman Go Broke Before His Comeback?
Yes, by 1984, Foreman had lost nearly everything. Lavish spending, bad business advice, and an extended break from boxing drained his finances.
That hardship inspired both his ring comeback and his later discipline with money. After returning, he not only won titles but also focused on saving, investing, and creating business value beyond boxing.
Unlike many athletes, Foreman learned from his financial collapse and turned himself into an entrepreneur, minister, and motivational figure, the very qualities that helped him sell millions of grills later on.
Other Business Ventures and Income Sources
Besides his partnership with Salton, Foreman invested in several other ventures:
- Clothing and footwear lines
- Real estate holdings in Texas
- Stock investments and brand licensing
- Books and speaking engagements (including By George: The Autobiography of George Foreman)
- A family boxing gym run with his sons, including George Foreman III
His ability to diversify wealth while staying relatable to middle-class consumers made him a rare figure in sports marketing, combining authenticity and business sense.
George Foreman’s Personal Life and Family
Foreman was married five times and had 12 children, five of whom are sons named George Foreman Jr. through George Foreman VI.
He also had daughters, including Georgetta and Natalie Foreman.
His wife at the time of his passing was Mary Joan Martelly, whom he married in 1985. She supported much of his post-boxing journey and philanthropic initiatives.
Legacy Through His Children
Several of his children followed in his footsteps.
- George Foreman III — an entrepreneur, boxer, and founder of “EverybodyFights” gym franchise, with an estimated net worth in the millions.
- Georgetta Foreman — a television producer and media personality.
George Foreman’s Net Worth at Different Stages
| Year | Approximate Net Worth | Major Financial Event |
| 1974 | $5–6 million | Won Heavyweight Title vs Joe Frazier |
| 1984 | Nearly $0 | Financial collapse, retired |
| 1994 | $10 million+ | Regained title at 45 years old |
| 1999 | $150 million+ | Sold grill naming rights |
| 2025 | $300 million | Net worth at time of death |
Foreman’s career illustrates how financial recovery and reinvention are possible even after near bankruptcy, a story few athletes have matched.
George Foreman’s Age, Death, and Cause
- Born: January 10, 1949
- Died: March 21, 2025 (aged 76)
- Cause of Death: Natural causes (as reported by family sources)
Even in his later years, Foreman remained active in media interviews, ministry work, and charity efforts, inspiring generations of fans and entrepreneurs alike.
How Much Did George Foreman Make From the Grill?
While initial reports estimated his grill earnings around $138 million from the buyout, insiders suggest he made well over $200 million in total, including royalties, bonuses, and post-sale dividends.
It’s often said he earned more from the grill than from boxing, making him a textbook example of how athletes can build wealth beyond the sport.
Who Inherited George Foreman’s Money?
His estate is believed to have been divided among his wife and children, with trusts reportedly set up for each family member.
Given his careful financial planning, analysts believe Foreman’s assets will continue generating income through licensing, royalties, and family-managed businesses.
George Foreman’s Legacy and Influence
Beyond his net worth, Foreman’s story carries lessons about second chances, financial literacy, and personal branding.
His transformation, from a fierce fighter to a smiling businessman, reshaped how athletes approach retirement and wealth management.
Even decades later, the net worth of George Foreman stands as a benchmark for how one endorsement deal can redefine a career and a life.
FAQs About George Foreman
At the time of his death in 2025, his net worth was approximately $300 million, mainly from the George Foreman Grill business.
While George Foreman was among the wealthiest, Floyd Mayweather Jr. holds the title of richest boxer, with a net worth surpassing $400 million.
His estate was reportedly divided among his wife Mary Joan Martelly and his children, with trust funds established to manage ongoing royalties.
More than $200 million, including the $138 million buyout plus royalties and promotional earnings.
He was married to Mary Joan Martelly, his fifth wife, from 1985 until his death in 2025.
In 1985, Foreman’s net worth was near zero due to bankruptcy; by 1990, after his comeback began, it climbed to around $5 million.
He passed away in March 2025 from natural causes at age 76.
Final Thoughts
George Foreman’s $300 million net worth is a testament to reinvention, discipline, and the power of smart branding. From Olympic gold to a global grilling empire, he proved that wealth can be rebuilt, and legacy can outlast any career.
Foreman’s story remains one of the most inspiring financial comebacks in sports history, proof that true champions rise again, in and out of the ring.
