George Foreman Won the Heavyweight Title at 45. But That Was Just the Undercard

Like Big George, I came fairly late to my second act re-invention. And while I don’t anticipate making the kind of money he did, I can say it’s fun to dig into something new, namely, for me, newsletters. I was asked last week to present my “Start a Profitable Newsletter” webinar to/for Boston Business Mentors. It went great and you can see the FREE replay here.

And now let’s get on with the Main Attraction:

He was 45 years old, and by most accounts, the fight was already over.

George Foreman, the big, jovial, burger-loving preacher from Houston, stood in the ring at the MGM Grand in Las Vegas on November 5, 1994. He was fighting Michael Moorer for the heavyweight championship of the world, and going into Round 10, he was losing on every single scorecard.

He was also the oldest guy ever to fight for the heavyweight title.

Every judge had Moorer up by a wide margin. His corner told him it would take a knockout to win. George nodded. Then came one right hand.

Moorer went down.

He did not get up.

At 45 years old - 20 years after he first held the belt - George Foreman was the heavyweight champion of the world again. The oldest heavyweight champion in history. The crowd at the MGM erupted.

But here is the thing. That was just the undercard.

THE LONG WAY BACK

To understand what happened next, you need to know what happened in between.

After losing to Muhammad Ali in the Rumble in the Jungle in 1974, George spiraled. He fought on for a few more years, but something had gone out of him. Then, after a loss to Jimmy Young in Puerto Rico in 1977, something else happened. George says he experienced death in that locker room - saw hell, came back, and heard a voice that did not want his money.

It wanted him.

Transformed, he then became an ordained minister. He opened a youth center in Houston. He gave up the ring for a Bible and a barbecue.

Ten years went by.

He came back to boxing in 1987 at 38 years old to raise money for that youth center. “Fat George,” the sportswriters called him, with not much affection. Nobody took him seriously. He did not care. He kept fighting, kept winning, kept grinding his way back toward the title for seven more years.

And then, on that November night in Vegas, one right hand ended the whole debate.

THE MAIN EVENT

But here is where the story gets really interesting.

That same year - 1994 - a company called Salton came to George with a small electric countertop grill. Did he want to put his name on it? George loved to cook and he loved burgers more than perhaps any man alive. George had ten children (five sons, every one of them named George, natch!).

He looked at the deal but negotiated to get 45% of every dollar of profit, rather than a flat fee.

(Ownership: The magic ingredient.)

The grill had a rocky start. Retailers at the big trade shows walked right past it and holiday sales fizzled.

Then George went on QVC and - on impulse - grabbed a cooked burger fresh off the grill and took a bite on live television. And for some reason, that was it. Knockout! The phone lines lit up. Salton sold 40,000 grills in three minutes.

KNOCKOUT!

The George Foreman Lean Mean Fat-Reducing Grilling Machine went on to become one of the bestselling kitchen appliances in American history. Over one hundred million units. Some months, George was clearing $8 million in royalties and in 1999, Salton paid George $137 million to buy out his name entirely, on top of everything he had already earned.

His entire boxing career, from Olympic gold in 1968 through every championship fight, had earned him roughly $60 million.

The grill more than doubled that. From a countertop appliance he did not invent, designed by two guys at a Taiwanese company, originally pitched to him through a third-party entertainment attorney.

Yep, that can happen.

The Takeaway

George Foreman did not go looking for a grill. The grill came to him, and he said yes, and then he negotiated for a percentage of ownership instead of a flat fee, and then he showed up on television and ate a hamburger. And when sales exploded, he was in position to cash in.

The same is true for Michael Jordan. His mom insisted that Nike share the profits of the nascent Air Jordan brand with him, or he would sign with Adidas. Nike agreed, reluctantly.

It’s an important lesson, entrepreneurs. Ownership is vital, of copyrights, trademarks, profits, your name, brand, everything.

Steal This Strategy

🛠️ Tool: The Spectacular Rise and Surprising Staying Power of the George Foreman Grill. The Hustle digs deep into how a trade show flop became 100 million units sold - including the QVC burger moment that changed everything.

📺 Video: George Foreman KO10 Michael Moorer - Knockout of the Year 1994. Watch the actual Round 10 right hand that made the oldest heavyweight champion in history. Two minutes you will not forget.

📖 Book: By George: The Autobiography of George Foreman. In his own words: the Rumble in the Jungle, the locker room, the comeback, and the grill. A great read from a genuinely great man.

📖 Meet: Want Me to Create and/or Write Your Newsletter For You? Book a free discovery call with Steve. If George’s story lit a fire, let’s talk about building your platform.

About Steve

Steve Strauss is the best-selling author of The Small Business Bible (and 17 other books), Inc.’s small business columnist, a lawyer (non-practicing), and an entrepreneur. He sold his last venture, TheSelfEmployed.com to Mark Cuban & Zen Business. Need a ghostwriter or a newsletter for your business? Contact Steve!