How much is George Foreman worth? $300 million
How did George Foreman earn his money and wealth?
George Foreman, real name George Edward Foreman, was born on 10 January 1949 in Texas, US. He was raised by his stepfather J D Foreman whom his mom had married after George was born. George grew up in a poor household along with 6 siblings. George’s stepfather was a drunkard and so the family was dependant on his mother’s salary. In his teens, George ran into trouble several times with law and was suspended from his school when he was 15. He was mainly involved in gang clashes and street fights which led him to join Job Corps in California to become a trained boxer.
George Foreman is an American retired professional boxer. He won a gold medal in the 1968 Olympics’ Heavyweight Boxing Championship held in Mexico. After becoming a professional boxer in 1969, George went on to win the world heavyweight title with a second-round knockout of Joe Frazier in the year 1973. He had made two successful title defenses until George lost his first professional boxing match held in Congo to Muhammad Ali in the year 1974. The match was a tough one as both the boxers fought very hard but by the eighth round, George started getting tired and just one blow by Ali on his head led him to lose the match.
After this match, George was not able to secure another title opportunity and took retirement after losing a match to Jimmy Young in the year 1977. He decided to change his ways of living life and dedicated his life to Christianity. After a gap of 10 years, George announced that he would make a comeback and in the year 1994, at the age of 45 years, he knocked out Michael Moorer despite being out of shape and won the unified IBF, WBA, and the lineal titles.
George still remains to be the oldest world heavyweight champion and is the second oldest in the history of any world class after the champion Bernard Hopkins. George retired in the year 1997, after fighting his last match with Shannon Briggs. He held a final record of 76 wins and five losses.
George has inducted in the World Boxing Hall of Fame as well as the International Boxing Hall of Fame. He is rated as the 8th greatest heavyweight of all time by the International Boxing Research Organisation. In the year 2002, George was named as one of the 25 greatest figures of the last eighty years by ‘The Ring’ magazine. Moreover, he was also ranked as the 9th greatest puncher of all time by the magazine. Besides boxing, George is well known for being a successful entrepreneur and for his promotion of the ‘George Foreman Grill’ which has worldwide sold more than 100 million units. In the year 1999, George sold the naming rights to the grill for over $130 million.
What are the highest grossing earnings of George Foreman?
- Earnings from the sale of his naming rights to the grill plus the endorsements (1999): $200,000,000
- Guaranteed salary from his fight against Holyfield (1990): $12,500,000
- Estimated wealth by the 1980s: $5,000,000
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