Michael Phelps has a net worth of $100 million dollars.
Michael Phelps is a $100 million dollar net worth retired American Olympic swimmer and corporate endorser. Michael Phelps is the most decorated Olympic athlete in history, winning 28 medals in total (23 of them gold) Many people regard him as the greatest swimmer of all time.
Michael Fred Phelps II was born in Baltimore, Maryland on June 30, 1985. Deborah Phelps, a middle school principal, and Michael Fred Phelps, a retired state trooper, have three children. When he was nine years old, his parents divorced, and his father remarried in 2000. After the divorce, Phelps described the siblings’ relationship with their father as strained. He graduated from Towson High School, just north of Baltimore, in 2003.
At the age of seven, Michael began swimming with the help of a coach, and adults quickly recognised his ability. When he was only 15 years old, he tried out for the United States Summer Olympic Team and was selected. Phelps did not win a medal at the Sydney Olympics, but he did make the finals and finished fifth in the 200-meter butterfly.
Phelps set a world record in the 200-meter butterfly in the spring of 2001, making him the youngest male swimmer in history. He broke his own record and won his first international medal at the 2001 World Championships. Phelps set five new world records shortly after graduating from high school. Phelps studied sports management and marketing at the University of Michigan in Ann Arbor, following in the footsteps of his longtime coach Bob Bowman. At the same time, he was continuing to set world records at Pan Pacific and World Championships each year.
Phelps won 17 medals in his next two Olympic games, including six gold and two silver in Athens and eight gold in Beijing. At the 2008 Beijing Olympics, Phelps broke Mark Spitz’s record for the most Gold Medals won in a single Olympics competition, winning eight (Spitz had won seven). He set a new world record in the 100-meter butterfly in 2009, flying at an incredible 5.5 miles per hour. He won four gold medals and two silver medals at the 2012 Olympic Games in London. Phelps teased a retirement after the London Olympics, but he went on to compete in the Mesa Grand Prix in 2014, while the world speculated whether he’d compete at the next Olympics. He fully returned to competition for the 2016 Rio Olympics, becoming the first American male swimmer to make five Olympic teams. That year, he won five gold medals and one silver medal.
Phelps announced his retirement on August 12, 2016, despite speculation that he would return for the 2020 Olympic Games. He currently holds the record for the most medals won by an Olympic athlete. He holds the record for most world records with 39.
Michael has had one of the most lucrative post-Olympic careers in American history as a result of his achievements. He has dozens of sponsors and is frequently featured in commercials and international advertisements. Over the years, his sponsorships with well-known brands such as Under Armour, Visa, Speedo, Wheaties, and others have added to his net worth.
Michael has consistently maintained an extremely healthy endorsement portfolio throughout his decades in the spotlight. Even after retiring, he still has lucrative contracts with companies like:
Armour by Under Armour
Michael is an equity investor in the mental health startup Talkspace, in addition to being one of the main pitch people. Talkspace has been valued between $1 and $3 billion at various times.
Phelps has been described as self-sufficient, solitary, and determined. During each Olympics, he earned the reputation of not being a “joiner” who preferred solitude over social group activities. His last Olympic Opening Ceremony, in 2016, was the first one he had ever attended. When it comes to interacting with fans and young children who look up to him for inspiration, his former coach has described him as “unbelievably kind-hearted”
On June 13, 2016, Michael married Nicole Johnson, a former Miss California USA. Their wedding was kept a secret for four months before it was revealed to the public. Boomer Robert Phelps (born 2016), Beckett Richard Phelps (born 2018), and Maverick Nicolas Phelps are their three sons (b. 2019). They live in Arizona’s Paradise Valley. Along with his former coach, Bowman, Phelps now volunteers as an assistant coach for the Arizona State Sun Devils.
After competing in the 2012 Olympics, Phelps revealed that he suffers from depression and ADHD, and that he once considered suicide. He has been vocal about his issues and a supporter of people seeking mental health treatment when they are in need. He joined the board of Medibio, a company that specialises in the diagnosis of mental health disorders, in 2017.
Phelps established the Michael Phelps Foundation with $1 million of his Speedo signing bonus after the 2008 Olympics. The foundation focuses on encouraging people to live healthier lives. He co-founded Swim with the Stars, a non-profit that hosts swimming camps for kids and adults.
Phelps was arrested in November 2004 in Salisbury, Maryland, for driving under the influence of alcohol. He was fined $250, sentenced to probation, and ordered to speak to high school students about drunk driving after pleading guilty. He lost a sponsorship deal with Kellog in 2009 after a photograph circulated of him smoking a bong. In 2014, he was arrested for DUI and speeding. Michael was barred from competing for six months, and as a result of his absence, the United States failed to qualify for the 2015 World Aquatics Championships finals.