George Foreman is a renowned Gold Olympic medalist in the 1968 Summer Olympics and World Boxing Hall of Fame. He is also a successful entrepreneur and known for promoting the George Foreman Grill. But did you ever wonder how much he made with his George Foreman Grill?
George Foreman Grill sold over 100 million units. Foreman received $138 million for the rights to use his name in 1999 and gained about 40% of the profits on every piece of grill sold, earning him an estimated total of over $200 million until 2011.
George Foreman’s Boxing Career
George Foreman, a Texas native, was born in Marshall. He grew up in the Fifth Ward community in Houston, Texas, with his six siblings. Coming from a broken family, Foreman experienced a problematic childhood.
He was a school dropout at the age of 15 and spent most of his time as a mugger. At 16 years old, Foreman had a change of heart when he saw an ad at Job Corps. He convinced his mother to sign him up and trained for carpentry and bricklaying after receiving his General Educational Development. He was first interested in football but soon gave it up for boxing. (Source: George Foreman Cooking)
After his efforts in amateur boxing, he won a gold medal in the 1968 Summer Olympics. He then turned professional a year after. He won the world heavyweight title with a staggering second-round knockout of then-undefeated Joe Frazier in 1973.
Foreman then had a chance to defend the belt twice before experiencing his first professional loss to Muhammad Ali. He decided to retire after a loss to Jimmy Young in 1977. Although he was able to have a comeback after ten years, he was known as the oldest ever to win the world heavyweight boxing championship of significant honors. His career in boxing ended in 1997 at the age of 48, with a final record of 76 wins, 68 knockouts, and five losses.
Foreman was inducted into the World Boxing Hall of Fame and International Boxing Hall of Fame following his remarkable boxing career. He is rated as the eighth-greatest heavyweight of all time and was named one of the 25 greatest fighters of the past 80 years by The Ring in 2002.
The Ring ranked him as the ninth-greatest puncher of all time. He was a ringside analyst for HBO’s boxing coverage for 12 years until 2004. (Source: Live About)
The George Foreman Grill
Outside the boxing ring, Foreman was a successful businessman. When he returned from retirement, he stated that his success was due to his healthy eating habits. Salton Inc. reached out to him to make a deal, which eventually led to turning him into the spokesperson for the company’s fat-reducing grill.
This particular endorsement yielded an estimated total of $200 million through 2011. This just proves to show how George Foreman knows how to be triumphant both in his athletic career and his business. (Source: George Foreman Cooking)