Net Worth Ranker
What Is Joe Frazier’s Net Worth?
At the time of his death on November 7, 2011, Joe Frazier, the former World Heavyweight Champion boxer, had a net worth estimated at $100,000. This figure reflects his financial status after a career that saw him reach the pinnacle of boxing success, followed by financial struggles in his later years. Frazier’s boxing career spanned from 1965 to 1981, during which he achieved considerable fame and earnings.
Early Life and Career Beginnings
Joseph William Frazier was born on January 12, 1944, in Beaufort, South Carolina. He was raised in the rural community of Laurel Bay. At the age of 15, Frazier started working on a farm for a white family named Bellamy. He later worked at a Coca-Cola plant. Joe eventually settled in Philadelphia, Pennsylvania.
Frazier’s amateur boxing career was marked by significant achievements. He won three Golden Gloves Heavyweight Championships between 1962 and 1964. His amateur record stood at 38 wins and 2 losses. In 1964, he represented the United States at the Summer Olympics in Tokyo, stepping in as a replacement for the injured Buster Mathis. Frazier won the gold medal, defeating German Hans Huber in the final.
Professional Boxing Career and Earnings
In 1965, Joe Frazier transitioned to professional boxing, marking his debut with a technical knockout victory over Woody Goss in the first round. He continued his winning streak with three more knockout victories in the same year. Later in 1965, a training mishap left Joe legally blind in his left eye. In 1966, Frazier trained with Eddie Futch in Los Angeles, adopting the bob-and-weave defensive technique. In 1967, Joe won all six of his fights. In a New York State bout against Buster Mathis, he won by a knockout, paving the way for his claim to the Heavyweight Championship.
Frazier defended his claim by defeating Mexico’s Manuel Ramos and Oscar Bonavena. In 1969, Joe defended his New York State Athletic Commission title by defeating Dave Zyglewicz in a first-round knockout and Jerry Quarry in a seventh-round stoppage. In 1970, Frazier faced WBA Champion Jimmy Ellis at Madison Square Garden, winning by a technical knockout. For his first title defense, Joe fought and defeated World Light Heavyweight Champion Bob Foster. In March 1971, Frazier fought Muhammad Ali in the “Fight of the Century.”
Despite losing the first two rounds, he won by a 15-round unanimous decision to claim the title. He successfully defended his title twice in 1972, knocking out Terry Daniels and Ron Stander. In early 1973, Frazier lost his undefeated 29-0 record and his world championship when he was defeated by George Foreman in Kingston, Jamaica. Frazier won his next fight in a 12-round decision over Joe Bugner in London. In 1974, he fought Muhammad Ali for a second time in New York City, losing by a 12-round unanimous decision. Frazier secured wins against Jerry Quarry and Jimmy Ellis. In October 1975, Frazier and Ali fought for the third and last time in Manila, Philippines, in the “Thrilla in Manila.”
Ali won by technical knockout. In 1976, Joe fought George Foreman for the second time. The fight was halted in the fifth round. Shortly after, Frazier announced his retirement. In 1981, Frazier attempted a comeback. He drew over ten rounds with Floyd Cummings and then retired permanently. Exact figures for his fight purses are difficult to ascertain definitively, though it’s known that the “Fight of the Century” against Muhammad Ali in 1971 earned him a substantial sum. Some estimates suggest Frazier earned around $2.5 million for that fight.
Financial Struggles and Later Life
Despite the significant earnings during his boxing career, Joe Frazier faced financial difficulties in his later years. He admitted to being overly generous with friends and family and acknowledged his shortcomings as a businessman. Details about specific business ventures or investments that led to financial losses are not widely publicized, but it is clear that Frazier’s post-boxing life was not as financially secure as his boxing achievements might suggest. Before putting the gym up for sale in 2009, he formed the Smokin Joe Frazier Foundation with the help of Peter Bouchard. The aim of the Foundation is to give back to youth who are troubled and in need.
Music Career
In the 1970s, Frazier formed a soul-funk group called Joe Frazier and the Knockouts. He toured widely across the US and Europe and recorded several singles, including “Knock Out Drop,” “You Got the Love,” “First Round Knock-Out,” and “Little Dog Heaven.” Precise sales figures or revenue generated from these musical endeavors are not readily available, but it is understood that his music career was more of a passion project than a significant income source.
Personal Life and Death
Joe married Florence Smith in 1963; the couple divorced in 1985. Frazier had five children with Smith, as well as others with women from previous relationships. The children are Marvis, Jacquelin, Weatta, Natasha, Jo-Netta, Derek, Brandon, Joseph Rubin, and Joseph Jordan. In late 2011, Joe was diagnosed with liver cancer. He passed away on November 7, 2011, at the age of 67. Boxing champ Floyd Mayweather offered over Twitter to pay for Frazier’s funeral costs. A private funeral was held shortly after; in addition to family and friends, it was attended by Muhammad Ali, Don King, Magic Johnson, and Dennis Rodman, among other sports greats.
