George Foreman

George Foreman, a retired American boxer and an Olympic gold medalist is better known for his “George Foreman Lean Mean Fat-Reducing Grilling Machines”. After all, over 100 million grills have been sold across the world. After almost getting bankrupt, it was these grills that saved Foreman and gave him a bounce back. Eventually, he invested in other ventures and endorsed brands like Doritos. Furthermore, he also became a member of the International Boxing Hall of Fame and the World Boxing Hall of Fame.

What is George Foreman’s Net Worth?

In 2024, George Foreman's net worth is around $300 million.

George Foreman has made quite a sum throughout his career as a professional boxer. According to Forbes, in 1995, Foreman was the 6th highest-paid athlete in the world. He earned $18 million through winnings, endorsements, and more. Besides that, a big chunk of George Foreman's comes from a long line of successful products called George Foreman Grills. In 1998, he earned as much as $4.5 million in monthly royalties. George was receiving up to 40% of the profit from each grill sold.  Additionally, in the 1990s, Foreman sold the commercial rights for the grills for more than $138 million. He also owns a large ranch in Texas, where he lives with his family. Foreman's garage is filled with a lot of expensive cars adding value to his net worth.

What is George Foreman’s Claim To Fame?

George Foreman is one of the most notable athletes of his era. He was born into a middle-class family and had to struggle a lot to become one of the best heavyweight fighters of all time. Here are the highlights of his early fame.

• Olympics and thereafter: George Foreman won the Olympic gold medal in 1968. He considers this win as the biggest win of his career.
• World Heavyweight Champion: After dominating the National Boxing Championship in 1968 and other competitions later on, Foreman went on to become the World Heavyweight Champion in 1973 after defeating Joe Frazier. 
• Famous fights: Foreman rode on his previous success and ended up fighting some of the most famous boxers in the world. In the ring, he went against José Roman, Ken Norton, Muhammad Ali, and more.

What Businesses does George Foreman own?

Unlike other celebrities, George Foreman has not diversified his business portfolio to that extent. His name has been mostly associated with grills, kitchen appliances, and more. Some details are as follows.

• George Foreman Enterprises, Inc.: It was founded in 1996. It is still listed on NASDAQ. Furthermore, since its establishment, the company has raised $117.6 million at IPO. In 2013, the company was technically defunct, and a year later, the Securities and Exchange Commission suspended trading of its shares.
• Salton Inc.: The George Foreman Lean Mean Fat-Reducing Grilling Machine was responsible for one of the biggest contract deals between an athlete and a company at that time. In 1999, Salton Inc. agreed to pay $137.5 million for licensing rights to George Foreman's name. He received money in five cash payments of $22.75 million and Salton shares worth $23.5 million, according to the New York Times.
• George Foreman’s Butcher Shop: In 2015, at the age of 66, the former heavyweight boxing champion launched a mail-order online meat business.
• George Foreman Knock-Out Cleaning: In 2004, Foreman launched a series of organic home cleaning products. 

What brands does George Foreman endorse?

Other than his famous electric grill, George Foreman has endorsed many other brands as well.

• Doritos: In the early 1990s, George Foreman appeared in several commercials for Doritos. His face was even plastered on promotional paper ads.
• Meineke: In 2001, Foreman appeared in a video advertisement on TV for Meineke Car Care Center.
• George Foreman Grill: How can we miss the promotion Foreman did for a line of grills that are still being sold under his name? These are manufactured by Spectrum Brands. Since 1994, more than $100 million grills have been sold.
• Medicare Insurance: George appeared in some commercials to promote the Medicare Benefits Hotline in 2021.

Besides these, George Foreman has endorsed Choice Home warranty, InventHelp, and Real Time Pain Relief.

How does George Foreman spend his money?

Due to his poor financial investments and decisions, George Foreman was on the verge of bankruptcy in 1986, according to AfroTech. there is also a film titled “Big George Foreman” which was released in 2023. It tells his story of the fall and comeback. Having said that, he also has some valuable properties and cars. Additionally, he has around 50 horses at his Texas ranch.

How many houses Does George Foreman Own?

The most notable property George Foreman owns is the $10 million ranch, in Huffman, Texas. He bought the 45-acre property in 2001. It features a massive garage that can house over 60 cars, according to Gigwise. It is the same house/property that caught fire in 2019. Moreover, Foreman also owns a holiday home in Marigot Bay, St Lucia, as reported by the Irish Times. He must also own some other houses at different locations. After all, there is no way an owner of $300 million fortune would be sated with just two residences.

How many cars does George Foreman own?

George Foreman's garage houses numerous expensive cars. From classics of the last century to modern machines after the 2000s, you will find a lot of variety in George's car taste.

• Volkswagen Beetle Convertible- It is the most cherished car by Foreman. The average price of the car is below $20,000.
• Ford GT- In 2023, a few cars were included in the “George Foreman Collection” and were put on auction by Hagerty Marketplace. George Foreman's 2005 Ford GT in red color received the highest bid of $360,000. However, the auction is still going on.
• The Dodge Viper RT/10 Roadster- It is another car from Hagerty's “George Foreman Collection”. The Viper is on hold with the most recent bid of $75,000.
• Lamborghini Diablo- George Foreman's red Lamborghini Diablo VT from 1997 was put on auction by Mecum in 2022. The bid is still on.

Meanwhile, George Foreman's car collection also includes the Ferrari Testarossa from 1977 and the Acura NSX from 1991.

What are George Foreman’s charitable contributions and philanthropic endeavors?

George Foreman came out of retirement a second time to help raise money for his church and the youth programs he was involved in. George Foreman also got the James V Day Good Guy Award due to his community service and the patriotism he has shown over the decades. Some of the other worthy contributions by Foreman are as follows.

• Youth and Community Center: In 1987, George Foreman founded a youth center to provide a safe space for children and teens to engage in sports. Nowadays, these kids can pay an annual fee ranging from $15 to $90 annually and take advantage of the facility.
• Big Donations: After winning $1.5 million in a lawsuit against Evander Holyfield and the company, George donated the money to various charitable causes. He gave away $100,000 to AIDS Foundation Houston and ended up getting a humanitarian award.

Additionally, Feeding America received a donation of 1.5 million meals from the George Foreman Grills brand. 

What’s next for George Foreman? 

In 2024, George Foreman has not announce any big plans. Just last year, a movie based on his life, “Big George Foreman: The Miraculous Story of the Once and Future Heavyweight Champion of the World” was made. He was played by Khris Davis.

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