Depending on your age, you may know George Foreman as the iconic fighter who took his first defeat against Muhammad Ali or the founder of the popular fat-reducing grill!
Though boxing careers are primarily short-lived, Foreman managed to make quite the name for himself, and his career extended beyond his boxing years.
If you want to learn more about the American boxer, read on for George Foreman’s net worth, career, and biography.
The Early Life of George Foreman
George Foreman was born on the 10th of January, 1949. His birthplace is Marshall, Texas, and his life story is pretty remarkable inside and outside the boxing ring!
The iconic American boxer grew up in a poor neighborhood famous for its high crime rates, namely Houston’s Fifth Ward. He had a troubled childhood and youth because of where he grew up, so he eventually dropped out of high school.
Instead, he joined the Job Corps, when he first started learning boxing techniques and styles. He was taught by the best: Doc Broadus, the godfather of boxing who served in two wars before discovering Foreman.
George Foreman stayed under the tutelage of Broadus until they went together to the 1968 Olympics that took place in Mexico City. That was the true breakthrough of Foreman, thanks to the gold medal he managed to snatch in the heavyweight division.
The Iconic Boxing Career of George Foreman
George Foreman’s boxing career was extraordinary, though he retired early and returned to boxing before retiring again. Here’s a rundown of the iconic career of George Foreman that created his substantial net worth:
From Gold Olympic Medal to Retirement
After his gold Olympic medal, Foreman decided to pursue a professional boxing career in 1969. His punching power gave him quite the reputation and took him through several knockouts. In 1973, he became the world heavyweight champion after fighting against Joe Frazier and knocking him down six times in two rounds.
From the beginning until 1974, his boxing career was marked by dominating all fights and winning against any opponent.
Unfortunately, the lucky streak ended when he faced the legendary Muhammad Ali in the Rumble in the Jungle fight. He lost to Ali in an eighth-round knockout, and the defeat drastically affected him.
He pushed through for four more years until he met Jimmy Young in a fight. Unfortunately, he lost to him, and shortly after, he decided to retire from boxing and become an ordained minister instead.
The Comeback
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Ten years after he retired, in 1987, George Foreman decided to return to boxing.
At first, fans were skeptical about the comeback, especially since a decade is too long of a break for an athlete. However, Foreman proved them all wrong and worked his way back to the top.
In 1994, he made a historic victory when he knocked Michael Moorer out and reclaimed his world heavyweight champion title.
Foreman was 45 years old by then, making him the oldest boxer to win the heavyweight champion title—a record that still stands unbroken!
He eventually hung up his gloves for good in 1997 after leaving a remarkable legacy. By then, boxing had taken a significant toll on his body, and since he was in his late forties, it was only natural to retire and rest his body.
George Foreman Beyond Boxing
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George Foreman retired in his late forties, marking the end of a great boxing career. However, it wasn’t time to retire, so he decided on different business ventures. He launched the George Foreman Grill during the ‘90s, and it generated millions in sales, thanks mainly to his name.
Aside from launching the grill, George Foreman wrote more than one book, his most famous being By George: The Autobiography of George Foreman. He also worked as a boxing commentator for a while.
But George Foreman wasn’t all about money. The iconic boxer also participated in many philanthropic efforts, especially youth programs that protect teens living in neighborhoods similar to his own.
The Personal Life of George Foreman
I just said that George Foreman wasn’t all about money, but he wasn’t all about boxing. Despite leading a remarkable career and leaving a considerable legacy, Foreman managed to get married several times while earning his titles.
He has seven daughters and five sons, and all of his sons are named George!
What Is George Foreman’s Net Worth?
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George Foreman is currently worth $300 million despite being on the verge of bankruptcy at some point. Despite making a hell of a lot of money from his historic matches, his extravagant lifestyle almost led him to bankruptcy and being homeless.
The reason for his insane wealth is the fat-reducing grill he launched in the ‘90s with Salton, Inc. Though it wasn’t confirmed how much he made from the endorsement, Salton paid him nearly $140 million for the rights to use his name. Most of his wealth probably comes from grill sales, of which he gets a percentage.
Final Thoughts
George Foreman is known for his resilience, powerful punches, and remarkable comeback! It’s not easy for an athlete to retire, let alone return to the boxing ring and win a second world championship!
To this day, Foreman is still the oldest boxer ever to win the title, and he became a household name thanks to the George Foreman Grill.
The boxer’s net worth is estimated at a staggering $300 million, which he made from his historic matches and intelligent investments.