Legendary boxer George Foreman passed away at the age of 76, leaving behind an incredible fortune for his 11 children. While Foreman was known for his remarkable career in the boxing ring, winning 76 bouts and claiming two world heavyweight titles, he also made a significant impact in the business world. His most notable venture was the George Foreman Grill, which earned him an estimated $200 million.
Initially, Foreman faced financial challenges and almost lost his $5 million fortune due to poor investments. However, a business deal after becoming the oldest heavyweight champion led to the creation of the iconic grill that became a cultural phenomenon. With around 40% of the profits from the grill, Foreman reaped the rewards, receiving substantial cheques and royalties. In total, he earned approximately $138 million from the grill deal.
Apart from his grill success, Foreman delved into other business ventures, wrote a book on entrepreneurship, and endorsed major brands. He also dedicated himself to philanthropic efforts through his George Foreman Youth and Community Center, assisting at-risk youth. With a reported net worth of around $300 million at the time of his passing, Foreman’s legacy extends beyond his boxing achievements.
Having been married five times and fathering 12 children, Foreman’s estate is expected to be divided among his offspring. His children, including five sons named George Edward Foreman and several daughters, are set to inherit part of his vast fortune. Despite personal tragedies, such as the loss of a daughter to suicide in 2019, Foreman’s family described him as a devoted husband, father, and grandfather, marking his legacy as a humanitarian and champion.
George Foreman’s impact transcended the boxing arena, leaving a lasting legacy not only in sports history but also in the worlds of business and philanthropy. His entrepreneurial spirit, coupled with his dedication to helping others, has secured a bright future for his children and a lasting impact on those who knew him. The world mourns the loss of a true legend, whose memory will live on through his family and the countless lives he touched.