Heavyweight Champion boxer George Foreman had some up and downs in his life, one of his biggest successes was surprisingly not in the boxing ring.
I’m sure by now most everyone has heard about the George Foreman grill, and I’m sure many own one or have owned one at some point, the grill was wildly successful and with success comes money.
First, a little background about George Foreman, he was a successful fighter throughout the 1970s, defeating Joe Frazier in 1972 for the heavyweight title. He eventually retired from boxing in 1977 after suffering from heatstroke and exhaustion following a fight with Jimmy Young in Puerto Rico.
However, his retirement was not kind to him, Foreman, being close to bankrupt returned to boxing in the 80s, he worked hard and regained success, eventually winning the heavyweight title again in 1994 at the age of 45, making him the oldest person to win the heavyweight championship ever.
It was around this time in 1994 that he was approached to endorse a grill, his attorney reached out to him to see if he would endorse it, he apparently had not tried the grill even after receiving it for six months.
His wife however had, and loved the product, his wife apparently made him a burger on it, and even though he was reluctant due to the fact that he was not being paid up front, he was only going to get 45% of the profit as it sold, he agreed to do it.
From then on, with George’s help promoting the product, there were millions of grills sold to the public.
How much did George make from the grill? It is rumored to be around $200 million.
But, according to a recent interview with AARP, George when asked “Estimates are that you earned in excess of $200 million on the grill. True?” He answers: “Much more. There were months I was being paid $8 million per month.”
He did eventually go on to sell the naming rights of the grill for a whopping $137.5 million in 1999, so add that on top of the millions per month he was making between 1994 and 1999, it is very plausible the grill earned him well over the $200 million figure most people have estimated.