Michael Phelps Net Worth - How The Swimming Legend Built His Wealth
Michael Phelps is an American former competitive swimmer who is widely regarded as one of the greatest athletes in the history of the sport. The amazing increase in Michael Phelps net worth will be examined in this article, along with the factors that have contributed to his financial success. Michael Phelps showed an early aptitude for swimming and began training at a young age.
Author:Alex MercerReviewer:Nathanial BlackwoodOct 11, 202313.4K Shares178.7K Views
Michael Phelps is an American former competitive swimmer who is widely regarded as one of the greatest athletesin the history of the sport. The amazing increase inMichael Phelps net worthwill be examined in this article, along with the factors that have contributed to his financial success. Michael Phelps showed an early aptitude for swimming and began training at a young age.
Phelps gained global fame for his remarkable achievements in the pool, particularly at the Olympic Games. He competed in four consecutive Summer Olympics from 2000 to 2016, during which he earned a staggering 28 Olympic medals, including 23 gold medals. His dominance in swimming and his ability to break numerous world records cemented his status as a swimming legend.
Quick Info
| Name | Michael Phelps |
| Date Of Birth | Jun 30, 1985 |
| Gender | Male |
| Height | 6 ft 3 in (1.93 m) |
| Profession | Swimmer, Athlete |
| Nationality | United States of America |
| Place Of Birth | Towson |
Early Life Of Michael Phelps
In Baltimore, Maryland, on June 30, 1985, Michael Phelps was born. He went to Towson High School, Dumbarton Middle School, and Rodgers Forge Elementary School. He has two elder siblings, two brothers and sisters. His father Michael is a former Maryland State Trooper, and his mother Deborah is a middle school administrator.
Phelps originally started participating in swimming when he was 7 years old. This was mostly because of his sisters' influence and to provide him a way to release his energy. Phelps was identified as having ADHD while he was in the sixth grade. He started training at the North Baltimore Aquatic Club with coach Bob Bowman when he was only 10 years old and already held the national record for his age group in the 100-meter butterfly.
Professional Career
At the age of 7, Michael started learning to swim under the direction of a coach, and adults noticed his aptitude right away. He was just 15 years old when he made the 2000 U.S. Summer Olympic Team after trying out for it. Phelps didn't win a medal in the Sydney Olympics, but he did place fifth in the 200-meter butterfly finals. Phelps established a world record in the 200-meter butterfly in the spring of 2001, making him the youngest male swimmer ever.
He beat his personal record and earned his first international medal in the 2001 World Championships. Phelps broke five world records shortly after finishing high school. Phelps followed his longtime coach Bob Bowman to the University of Michigan in Ann Arbor where he majored in sports administration and marketing. At the Pan Pacific Championships and the World Championships, he persisted in shattering world records every year.
Phelps earned 17 medals throughout his next two Olympic competitions, including eight gold in Beijing and six gold and two silver in Athens. When Phelps won an incredible 8 Gold Medals in the 2008 Beijing Olympics (Spitz had won seven), he eclipsed Mark Spitz's previous record of most Gold Medals earned in a single Olympic tournament.
He set a new world record in the 100-meter butterfly in 2009 by running at an astounding 5.5 mph. He brought home two silver medals and four gold medals at the 2012 Olympic Games in London. Phelps hinted at retiring after the London Olympics, but he continued to race in the Mesa Grand Prix in 2014 as everyone wondered whether he would return for the 2016 Games.
In order to participate in the 2016 Summer Olympics in Rio de Janeiro, he totally came out of retirement, making him the first American male swimmer to be selected for five Olympic teams. In that year, he won five gold medals and one silver medal.
Despite rumors that Phelps will return for the 2020 Olympics, on August 12, 2016, he made his retirement official. He now holds the record for the most medals won by an Olympian. He holds the record for most world records ever with 39. Michael has had one of the most successful post-Olympics careers in American history because of his accomplishments.
He has a large number of sponsors and often appears in advertising and commercials throughout the globe. Over the years, his sponsorships with well-known companies like Under Armour, Visa, Speedo, Wheaties, and others have helped him increase his wealth.
Highlights
Here are some of the best highlights of Michael Phelps’ career:
- James E. Sullivan Award (2003)
- Best US Male Olympian ESPY Award (2005, 2009, 2013)
- Associated Press – Male Athlete of the Year (2008)
- Sports Illustrated Sportsperson of the Year (2008)
- Best Male Athlete ESPY Award (2009)
- Best Moment ESPY Award (2009)
- Best Record-Breaking Performance ESPY Award (2009. 2013)
- BBC Sports Personality of the Year Lifetime Achievement Award (2016)
- Laureus World Sports Award for Comeback of the Year (2017)
Michael Phelps Net Worth
American Olympic swimmer and former corporate ambassador Michael Phelps has a $100 million dollar fortune. With a total of 28 Olympic medals, 23 of them gold, Michael Phelps is the most decorated Olympian in history. Many people think of him as the best swimmer of all time.
For his Olympic triumphs at the 2008 Games, Michael Phelps won the "Sports Illustrated" Sportsman of the Year title. He also won the World Swimmer of the Year title eight times, the American Swimmer of the Year honor eleven times, the FINA Swimmer of the Year Award twice, and the "Sports Illustrated" Swimmer of the Year honor.
| Net Worth | $100 Million |
| Monthly Income And Salary | $0.8 Million + |
| Yearly Income And Salary | $10 Million + |
Endorsements
Michael has continually kept up a very strong endorsement roster over the decades he has been in the limelight. Even after retiring, he still has lucrative contracts with organizations like:
- Subway
- Visa
- Speedo
- PowerBar
- Under Armour
- AT&T
In addition to being one of the main pitch people, Michael is also an equity investor in the mental health startup Talkspace. At various times Talkspace has been valued at $1 to $3 billion.
Michael Phelps Real Estate
Phelps spent $1.69 million buying an apartment in Baltimore in 2007. After the collapse of the housing market, he advertised the home for $1.42 million but ultimately settled on $1.25 million. Soon after that, he moved into a townhouse in the Canton area, where he remained for four years until selling it in 2016 for $960,000.
Following the acquisition of a $2.5 million property in December 2015, Michael Phelps relocated to Paradise Valley, Arizona. 2018 saw him market the house for $4.1 million, and it ultimately sold for $3.5 million.
Michael Phelps Legal Issues
In Salisbury, Maryland, Phelps was detained in November 2004 for driving while intoxicated. After entering a guilty plea, he was given a $250 fine, probation, and a requirement to educate high school students about drunk driving. In 2009, a picture of him smoking a bong cost him a sponsorship agreement with Kellog.
In 2014, he was detained once again for DUI and speeding. Because to Michael's six-month ban from all events his absence from the squad at the 2015 World Aquatics Championships, the United States was unable to go to the finals.
Relationship & More
Phelps has been characterized as self-sufficient, isolated, and concentrated. He had a reputation for not being a "joiner" throughout each Olympics and often preferred solitude than taking part in social group events. His first Olympic Opening Ceremony came in 2016, which also happened to be his last Olympics.
When engaging with supporters and young children who look up to him for inspiration, his former coach has referred to him as "unbelievably kind-hearted". On June 13, 2016, Michael wed Nicole Johnson, a former Miss California USA. They had a private wedding, and it took four months before the union became public knowledge. Boomer Robert Phelps (born in 2016), Beckett Richard Phelps (born in 2018), and Maverick Nicolas Phelps (born in 2019) are their three kids.
They call Paradise Valley, Arizona, home. Along with his previous mentor Bowman, Phelps currently serves as a volunteer assistant coach with the Arizona State Sun Devils. Phelps has said that he suffers from depression and ADHD and that, after participating in the 2012 Olympics, he had thought about committing himself.
He has been vocal about his problems and a supporter of individuals getting the mental health care they need when they need it. He joined the board of Medibio, a company that specializes in the identification of mental health conditions, in 2017.
Phelps used $1 million of his Speedo signing bonus to establish the Michael Phelps Foundation after the 2008 Olympic Games. The foundation's main objective is to encourage healthy living. He helped create the charity organization Swim with the Stars, which hosts camps for swimmers of all ages.
Interesting Facts About Michael Phelps
- Michael Phelps began his swimming journey at the age of seven, using the sport to help manage his ADHD.
- With an astounding 23 Olympic gold medals, Phelps holds the record for the most individual Olympic gold medals.
- He made his Olympic debut at just 15 years old during the 2000 Sydney Olympics, becoming the youngest male Olympian for the United States in decades.
- If Michael Phelps were a nation, he would rank 39th on the all-time Olympic gold medal list, surpassing ancient Greece's total medal count.
- Renowned for his butterfly strokes, Phelps' technique in this stroke serves as a model for teaching others.
- Throughout his career, he won the 200-meter butterfly event at every major international competition from 2001 to 2016.
- Following his initial retirement post-2012 London Olympics, Phelps made a triumphant comeback to win more gold medals at the Rio Olympics in 2016.
- During his peak training, Phelps consumed an astonishing 12,000 calories daily, including unconventional foods like pizza, pasta, and energy drinks.
- Phelps established the Michael Phelps Foundation, which focuses on promoting water safety, healthy living, and the pursuit of dreams among underprivileged children.
- The swimming legend has become an advocate for mental health awareness, speaking openly about his own struggles with depression and anxiety.
- Known for his distinctive style and tattoos, Phelps has graced the cover of various fashion magazines.
- Following his retirement from competitive swimming, Phelps expressed interest in pursuing a career in golf, working on improving his golf skills.
- Michael Phelps is a proud father of three sons, Boomer, Beckett, and Maverick, with his wife, Nicole Johnson. Boomer captured hearts during the Rio Olympics with his adorable presence.
Michael Phelps Social Media Accounts
- Facebook - https://www.facebook.com/michaelphelps
- Instagram - https://www.instagram.com/m_phelps00/
- Twitter - https://twitter.com/MichaelPhelps
FAQs About Michael Phelps
What Events Did Michael Phelps Compete In?
Phelps competed in a variety of swimming events, including freestyle, butterfly, and individual medley. He was known for his versatility in different strokes and distances.
When Did Michael Phelps Retire From Competitive Swimming?
Michael Phelps initially retired from competitive swimming after the 2012 London Olympics but made a comeback and officially retired after the 2016 Rio Olympics.
What Is The "Phelps Butterfly" Technique?
The "Phelps butterfly" technique refers to Michael Phelps' highly efficient and effective swimming style in the butterfly stroke. His technique has been studied and emulated by many aspiring swimmers.
What Is Michael Phelps Doing Now?
After retiring from competitive swimming, Michael Phelps has been involved in various philanthropic efforts, including his foundation's work on water safety and healthy living. He has also been an advocate for mental health awareness.
Has Michael Phelps Received Any Awards Or Honors For His Contributions To Swimming?
Yes, Michael Phelps has received numerous awards and honors, including the Laureus World Sports Award for Sportsman of the Year and being named the Sports Illustrated Sportsman of the Year.
Final Words
In conclusion, Michael Phelps is a sporting legend whose remarkable achievements in competitive swimming have left an indelible mark on the world of sports. With 23 Olympic gold medals and a total of 28 Olympic medals, he is the most decorated Olympian of all time. His incredible versatility in various swimming events, along with his dedication and unique "Phelps butterfly" technique, set him apart as a once-in-a-generation athlete.
Beyond his swimming prowess, Phelps' contributions extend to philanthropy and advocacy. He founded the Michael Phelps Foundation, which promotes water safety, swimming education, and healthy living among children. Additionally, he has used his platform to raise awareness about mental health issues, demonstrating his commitment to helping others beyond the pool.
Michael Phelps' journey, from his early struggles with ADHD to his record-breaking Olympic successes and his continued efforts to make a positive impact on the world, serve as an inspiration to many. His legacy as a swimmer and a role model is cemented in the annals of sports history, making him a beloved and admired figure worldwide.
Michael Phelps is one of the highest paid athletes of all time, with a total net worth of $100 Million. He is now retired and has gone down in history as the most successful Olympian of all time.
Alex Mercer
Author
Alex Mercer is a seasoned author and analyst specializing in wealth research, with a keen focus on evaluating the net worth of individuals across various industries. With over a decade of experience in financial analysis and wealth assessment, Alex has developed a nuanced understanding of the factors that contribute to an individual's financial status, from investments and assets to market trends and economic policies. His work involves in-depth reviews and analyses, providing insightful observations on wealth accumulation, management strategies, and the socio-economic implications of wealth distribution.
Throughout his career, Alex has become known for his ability to distill complex financial data into understandable and engaging narratives, making the subject of wealth and net worth accessible to a broad audience. His expertise is not just in numbers but in telling the stories behind them, highlighting the journeys, strategies, and decisions that lead to financial success or challenges. Alex's contributions to the field of wealth research are valuable resources for anyone looking to understand the dynamics of wealth in today's world, offering a unique perspective that bridges the gap between financial analysis and human interest.
Nathanial Blackwood
Reviewer
Nathanial (Nate) Blackwood is a distinguished financial journalist with a decade of experience in net worth analysis. He holds an Economics degree from the University of Finance and a Data Analysis certification, enabling him to blend thorough insights with engaging storytelling. Nate is known for making complex financial information accessible to a wide audience, earning acclaim for his precise and reader-friendly analyses. Beyond his writing, Nate is dedicated to financial literacy, actively participating in educational forums and workshops.
He is the founder of PureNetWealth, a platform that demystifies the financial achievements of public figures by exploring the strategies and decisions behind their fortunes. Nate's work bridges the gap between intricate economic concepts and the general public, inspiring a deeper understanding of wealth dynamics. Follow Nathanial Blackwood for essential insights into the financial narratives shaping our world.
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