Legendary boxer George Foreman passed away at 76 on Friday, as announced by his family on Instagram. His family took to Instagram on Saturday morning to announce his passing away. Foreman, reportedly, died with a net worth of $300 million and left behind a large family and an incredible boxing legacy.
George Foreman passes away at 76
Known as Big George in the ring, the American boxer built one of the most remarkable and enduring careers in the sport, winning an Olympic gold in 1968 and claiming the world heavyweight title twice, 21 years apart – the second making him the oldest champion in history aged 45.
Foreman experienced a remarkable career and life, inside and outside the ring. Along with his in-ring fight success, Foreman also became a Christian minister back in Texas as well as a multimillionaire entrepreneur with the successful launch of George Foreman Grill. Foreman tallied 76 wins with five losses – including one versus Muhammad Ali in the infamous ‘Rumble in the Jungle’ – across his professional career, tallying a net worth of $5 million at his peak. He was inducted into the World Boxing Hall of Fame and International Boxing Hall of Fame.
However, more of his net worth stems from George Foreman Grill which, since its inception in 1994, has sold over 100 million units across the world. Foreman was approached by Salton, Inc., and was paid $138 million in 1999 for the right to use his name. Previous to that, he was being paid 40 percent of the profits on each grill sold, earning him roughly $4.5 million a month in pay-outs at its peak.
It is estimated that he has made over $200 million from the grill, which is substantially more than he earned as a boxer. The net worth was able to sustain an incredible family life, which spread across four previous marriages and led to 12 children – and 15 grandchildren.