Michael Phelps Net Worth: Michael Phelps, also nicknamed “The Baltimore Bullet” or Flying Fish”, is an American former competitive swimmer who has an estimated net worth of $55 million. He was one of the most decorated Olympian of all time, holding the records of most Olympic gold medal (23), and 28 medal total. When it comes to the richest athletes, Phelps would always rank higher in the list. In fact, he was one of the richest athletes at the 2016 Summer Olympics in Rio de Janeiro.
About Michael Phelps
Michael Fred Phelps was born on June 30, 1985 in Baltimore, Maryland. He attended Dumberton Middle School and graduated from Towson High School. At the age of seven, Phelps began to swim mainly for learning purpose. He then with his sister fell in love with sport and decided to swim..
When he was at 10, Phelps made a national record for age group (100-meter-butterfly) and then started training under Bob Bowman at North Baltimore Acuatic Clubs. However, he made a quick progress and became the youngest to make a men U.S Olympic swim team for 2000 Summer Olympic. Although he didn’t win any medal but finished fifth at the final of 200-meter butterfly.
However, Phelps got international recognition in 2004 Olympic Games, where he finished with eight medals, including 6 Gold. Four years later, in 2008 Beijing Olympics, surpassing his previous records and won 8 gold medals, which is a world’s record for most gold won at single events. His collections of Olympic gold medal reached at 18, after 2012 Olympic in London.
Phelps closed out the 2016 Rio Olympics with an overall of 28 medals- 23 gold, 3 silver and 2 bronze. He has won World Swimmer of the Year Awards eight times and American Swimmer of the Year Awards eleven times. Moreover, in 2008, he became Sports Illustrated Sportsman of the Year, and as well as the FINA’s Swimmer of the Year in 2012 and 2016. . The 31-years-old won’t participate in 2020 Olympic in Tokyo.
How Much is Michael Phelps Net Worth- $55 million
Michael Phelps is one of the most successful athletes at the Olympic history. With the Olympic success, Phelps built his wealth through salary, bonuses and lucrative endorsement deals. He received awards of $25,000 for each gold, $15,000 for silver and 10,000 for bronze medals from the United States Olympic Committee.
But his fortunes have increased through big deals with companies such as Undor Armour, Visa, Omega, Hilton, HP, and Master Spas, among others. After winning eight medals at 2008 Olympics, Phelps got $1 million bonus from swimwear manufacturer company Speedo, with whom he had a sponsorship deals. The smartest athletes Phelps also posed for Lui Voitton, Wheaties and Corn Flakes, which have significant contribution on his net worth.
In addition to his career, Phelps has written 2 books and also co-founders of a non-profit business organization. His “Michael Phelps foundation” is working to promote swimming and healthier lifestyles.
- He married Nicole Johnson in 2016. Nicole was the Miss California USA 2010 winner.
- The former swimmer purchased a stunning 6010-square foot home in Scottsdale, Arizona, which cost $2.5 million.
