He made a decision that would cost him dearly.
Formerly, Hulk Hogan was among the most well-known and adored wrestlers in the world. In the 1980s and early 1990s, he represented the World Wrestling Federation (WWF) as a 12-time world champion.
Additionally, Hogan was a prominent actor and television personality who had his own reality program called “Hogan Knows Best.” However, in 2011, the former professional wrestler revealed in an interview acquired by Celebrity Net Worth that he made a decision that cost him dearly.
By declining the chance to endorse a kitchen product, Hogan lost out on a $200 million fortune. It was none other than the George Foreman Grill, which later rose to prominence as one of the most popular kitchen products ever.
At that time, the grill, a meatball maker, and a blender were the options his agency had offered him to endorse. Hogan then chose the meatball maker and turned down the grill telling his agent to “give that to your other client.” Meanwhile, Foreman, another sports icon, received the grill.
The grill became instantly popular and brought approximately $5 million a month in royalties for Foreman. He also received $138 million from the grill’s creators in 1999 in exchange for the right to use his name indefinitely. Moreover, more than 100 million George Foreman Grills have been sold globally.
On the other hand, Hogan invested in and promoted several goods, including a restaurant named “Pastamania,” which failed in less than a year. In addition, he invested in and endorsed “Hulkster Burgers,” a brand of microwaveable burgers and sandwiches marketed at Walmart, but the venture failed.
With that, Hogan’s missed opportunity is now considered one of the worst business decisions in history. And while he invested in and endorsed several products, none were as successful as the George Foreman Grill.
After making such a poor decision, Hogan ventured into the world of the entertainment industry as an actor and television personality. All of which he did try to make ends meet.
The story of Hulk Hogan’s missed opportunity is a reminder to everyone that hindsight is 20/20 when it comes to business decisions, and a good opportunity should not be missed.