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Michael Phelps Net Worth: $80M.
Who Is Michael Phelps?
Michael Phelps is a retired swimmer American Olympic swimmer who has a net worth of $80M.
Phelps is the most decorated athlete in Olympic history, winning 28 medals (23 gold medals).
He is widely considered as the greatest swimmer of all time.
The Early Years
Phelps was born in Baltimore, Maryland, and raised in the Rodgers Forge neighbourhood of nearby Towson.
He attended Rodgers Forge Elementary, Dumbarton Middle School, and Towson High School.
Phelps is the youngest of three children. His mother, Deborah Sue “Debbie” Phelps (née Davisson), is a middle school principal.
His father, Michael Fred Phelps, is a retired Maryland State Trooper who played football in high school and college and tried out for the Washington Redskins in the 1970s. Phelps is of English, German, Irish, Scottish, and Welsh descent.
His parents divorced in 1994 when he was nine years old, and his father remarried in 2000.
Phelps later revealed that the divorce had a severe negative impact on him and his siblings, and his relationship with his father was distant for a few years after the divorce.
He graduated from Towson High School in 2003.
Phelps began swimming at the age of seven, partly because of the influence of his sisters and partly to provide him with an outlet for his energy.
After retirement in 2016, he stated “The only reason I ever got in the water was my mom wanted me to just learn how to swim. My sisters and myself fell in love with the sport, and we decided to swim.”
When Phelps was in the sixth grade, he was diagnosed with attention deficit hyperactivity disorder (ADHD).
By the age of 10, he held a national record for his age group (in the 100-meter butterfly) and began to train at the North Baltimore Aquatic Club under coach Bob Bowman.
Michael began swimming with the guidance of a coach at the age of 7 and adults quickly recognized his talent.
He tried out for – and made – the U.S. Summer Olympic Team in 2000 when he was only 15 years old.
At the Games in Sydney, Phelps didn’t medal but he made the finals and finished fifth in the 200-meter butterfly.
At the World Championship Trials for the 2001 World Aquatics Championships, on March 30, Phelps broke the world record in the 200-meter butterfly to become, at 15 years and 9 months, the youngest male ever to set a world record in swimming.
Just after graduating high school, Phelps set five new world records.
Phelps attended the University of Michigan in Ann Arbor, following his longtime coach Bob Bowman, and studied sports management and marketing.
All the while, he was continuing to crush world records each year at Pan Pacific Championships and World Championships.
In his next two Olympics games, Phelps won 17 medals including six gold and two silver at Athens and eight gold in Beijing.
Phelps broke the record set by Mark Spitz for most Gold Medals won in a single Olympics competition when he won a remarkable 8 Gold Medals (Spitz had won seven) at the 2008 Beijing Olympics.
In 2009, he broke the world record in the 100-meter butterfly with an astonishing speed of 5.5 miles per hour.
At the London Olympic Games in 2012, he took home four gold medals and two silver medals.
After the London Games, Phelps teased a retirement, however, he went on to compete in 2014 at the Mesa Grand Prix while the world speculated whether or not he’d compete at the next Olympics.
He fully came out of retirement to compete at the 2016 Rio games and became the first American male swimmer to earn a spot on five Olympic teams.
He took home 5 gold medals and one silver medal that year.
Thanks to his success, Michael has enjoyed one of the most lucrative post-Olympics careers in American history.
He has dozens of sponsors and frequently appears in commercials and worldwide ads.
His sponsorships with popular brands like Under Armour, Visa, Speedo, Wheaties, and others have contributed to his net worth over the years.
After the 2008 Olympics, Phelps used his $1 million Speedo bonus to set up the Michael Phelps Foundation.
His foundation focuses on growing the sport of swimming and promoting healthier lifestyles.
The Foundation’s largest event is its annual fundraiser, the Michael Phelps Foundation Golf Classic.
In 2017, Phelps joined the board of Medibio, a company focused on diagnosis of mental health disorders
Top 5 Michael Phelps Quotes
You can’t put a limit on anything. The more you dream, the farther you get. – Michael Phelps
If you want to be the best, you have to do things that other people aren’t willing to. – Michael Phelps
I think goals should never be easy, they should force you to work, even if they are uncomfortable at the time. – Michael Phelps
I can only control my own performance. If I do my best, then I can feel good at the end of the day. – Michael Phelps
The more you dream the more you achieve. – Michael Phelps
Michael Phelps is a retired American Olympic swimmer and his net worth stands at $80M.
He is the most decorated athlete in Olympic history winning 28 medals in total.
Of that 28, 23 are gold medals.
As of 2021, Michael Phelps net worth is $80M.
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Disclaimer: This information is correct to the best of our knowledge. If you think any information is incorrect about Michael Phelps net worth, let us know and we will update it. Info collated from Wikipedia & Celebrity Net Worth.