If you ask people from different generations who George Foreman is, you’ll likely get a variety of responses. Some remember him as the Olympic gold medalist and two-time World Heavyweight Boxing Champion who dominated the sport in the 1970s before making an astonishing comeback in the 1990s. Others recognize him as the charismatic entrepreneur behind the hugely successful George Foreman Grill. One thing remains clear—Foreman’s life is a testament to resilience, reinvention, and extraordinary success.
At 76 years old in 2025, Foreman is a retired athlete, a multimillionaire businessman, and a devoted Christian minister. With an estimated net worth of $300 million, his financial success has come more from his business ventures than from his legendary boxing career. So, how did Foreman rise from near-bankruptcy to become one of the most successful athlete-entrepreneurs in history? Let’s take a closer look.
Early Life and Humble Beginnings
George Edward Foreman was born on January 10, 1949, in Marshall, Texas, and raised in Houston alongside six siblings. Though J.D. Foreman served as his father figure, his biological father was Leroy Moorehead.
Life was anything but easy for young George. He dropped out of school at 15 and became involved in street crime during his teenage years. However, a pivotal moment came when he persuaded his mother to enroll him in Job Corps. There, he trained as a carpenter and bricklayer—but more importantly, he discovered boxing, a sport that would completely transform his future.
Boxing Career: From Gold Medalist to Heavyweight Champion
Foreman’s rise in boxing was swift and spectacular. By 1968, at just 19 years old, he claimed a gold medal in the heavyweight division at the Mexico City Olympics. His victory over 29-year-old veteran Jonas Cepulis was a dominant display of raw power, foreshadowing the formidable career that lay ahead.
Turning professional in 1969, Foreman’s career skyrocketed. His early record was nothing short of impressive:
- 1969: 13 wins, 11 by knockout.
- 1970: 12 wins.
- 1971: 7 wins by knockout.
By 1973, Foreman challenged the undefeated heavyweight champion, Joe Frazier, and delivered a stunning victory, winning by TKO in the second round. This triumph cemented his reputation as one of the most feared and powerful boxers in history.
A Career of Highs and Lows
But Foreman’s journey wasn’t without setbacks. In 1974, he faced Muhammad Ali in the legendary Rumble in the Jungle in Zaire. As the younger and stronger fighter, Foreman was the favorite to win. However, Ali’s brilliant rope-a-dope strategy wore him down, leading to an eighth-round knockout—Foreman’s first professional loss. The defeat sent him into a downward spiral.
Struggling to reclaim his dominance, Foreman eventually retired in 1977 after a loss to Jimmy Young.
Financial Struggles and an Unbelievable Comeback
Despite earning millions from boxing, poor investments and extravagant spending nearly left Foreman bankrupt by 1987. As he later admitted:
“I was fractions, fractions from being homeless.”
Determined to provide for his family, Foreman made a shocking return to boxing at 38 years old—an age when most fighters have long retired. Against all odds, he won fight after fight, proving his power was still formidable. Then, in 1994, at age 45, Foreman made history by reclaiming the heavyweight title, becoming the oldest heavyweight champion ever—a full 20 years after first winning it.
His final fight came in 1997 at age 48, retiring with an incredible record:
✅ 76 wins (68 by knockout)
❌ Only 5 losses
The George Foreman Grill: A Billion-Dollar Deal
Foreman credits his second career success to adopting a healthier lifestyle during his boxing comeback. In 1994, Salton, Inc. approached him to endorse a fat-reducing grill, believing his name would resonate with health-conscious consumers. Foreman agreed—and the George Foreman Lean Mean Fat-Reducing Grilling Machine became an instant sensation.
By 2009, over 100 million units had been sold. While Foreman never disclosed his total earnings, reports suggest:
- He initially earned 40% of the grill’s profits, at one point making $4.5 million per month.
- In 1999, Salton paid him $138 million just for the rights to use his name.
- Overall, Foreman is estimated to have made over $200 million from the grill—far more than his boxing career earnings.
This deal made him one of the wealthiest former athletes in history.
Expanding His Empire: Business and TV Ventures
Foreman’s entrepreneurial success didn’t stop at the grill. He has also:
- Invested in Meineke auto repair shops
- Held a stake in Panther Racing (IndyCar team)
- Authored 10 books
- Made TV appearances on The Masked Singer, The 700 Club, and American Inventor
- Had a cameo in Night at the Museum: Battle of the Smithsonian
Personal Life: Family and Legacy
Foreman has been married five times but has been with his current wife, Mary Joan, since 1985. Together, they have 12 children.
In a humorous yet unique move, he named all five of his sons “George Edward Foreman”, explaining:
His daughters also have variations of his name—except for one, Georgetta.
Foreman is deeply involved in his children’s education, insisting they all earn a college degree. Some have dabbled in boxing—his son George III pursued a professional career, while his daughter Freeda Foreman had a short boxing stint before her tragic passing in 2019 at age 42.
Real Estate: The Foreman Ranch
Foreman and his wife own a 300-acre estate in Marshall, Texas, known as The Foreman Ranch. They also maintain a home in Houston, where they enjoy their retirement.
A Legacy of Reinvention
Few athletes have transitioned as successfully from sports legend to business mogul, but George Foreman has mastered the art of reinvention.
At 76 years old, with a net worth of $300 million, he remains an inspiration—not just for his boxing achievements, but for his ability to rise from setbacks and build an empire beyond the ring.
From a troubled youth in Texas to a world champion, from near-bankruptcy to multimillionaire entrepreneur, George Foreman’s story is a testament to resilience, smart decisions, and never giving up.
