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Michael Phelps Net Worth: All You Need to Know About 28-Time Olympic Medalist Swimmer’s Net Worth
Michael Phelps is considered one of the most decorated Olympians of all time. He has won 28 medals throughout his illustrious career. Check out his net worth right away!
Michael Phelps, the former American Swimmer is the most successful and decorated Olympian of all time. The 39-year-old has 28 Olympian medals to his name, including 23 gold medals, three silver medals, and two bronze medals.
Phelps began his swimming training at the age of 11 and retired from competitive swimming after the 2016 Rio Olympics. He competed in the multi-sport event five times, making his first appearance in the 2000 Summer Olympics and his last in the 2016 Rio Olympics.
Although in his debut year, he did not earn any medals, he stunned his fans during the 2004 Athens Olympics where he secured six gold medals and two bronze medals. Meanwhile, in the 2008 Beijing Olympics, he won eight gold medals in a single game, creating a historic record that is unbreakable still today.
Phelps’ further participation in the quadrennial event earned him four gold medals and two silver medals in the 2012 London Olympics in addition to winning five gold medals, and one silver medal in the 2016 Rio Olympics.
Throughout his illustrious career, Phelps has not only impressed his fans but also managed to earn a substantial net worth, making him one of the richest athletes in the world. He currently has a net worth of $100 million, which is a combination of his swimming career, Olympic participation, endorsements, and business ventures.
Also Read: Michael Phelps Diet - The Remarkable Diet for His Olympic Records
The talented swimmer not only grabbed significant rewards from the Olympic events that he took part in but also earned a whopping amount of $640,000 in total. Moreover, he has endorsement deals with various brands, including Omega, Visa, Under Armour, and Subway. He still earns a substantial amount annually, approximately $10 million, from these endorsements.
Phelps’ equity stake in Talkspace is valued between $1 billion and $3 billion, giving him enough reasons to be among the richest athletes list. As much as he earned from the sport, he has also made sure to give it back to it.
After the 2008 Olympics, the 28-time Olympic medal winner set up the Michael Phelps Foundation, a Charity in South Portland, Maine, from the $1 million money that he received as a bonus from the Australian-British distributor of swimwear and swim-related accessories, Speedo International Limited.
This foundation looks after promoting the growth of swimming and encouraging healthier lifestyles. Since its inception, three programs have been introduced by the Foundation including the IM program, Level Field Fund-Swimming, and Caps-for-a-Cause. Indeed, Michael Phelps' journey has been truly inspiring for the generations to come.
Disclaimer: All amounts mentioned in the article are sourced from public platforms. In some cases, athletes or their teams give their inputs too, which we incorporate if provided by them. We make all efforts to share possible accurate numbers, however, unless otherwise mentioned they are all approximate. We are open to feedback and suggestions on editorial@pinkvilla.com.
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