Michael Phelps Net Worth

Michael Phelps is an incredibly talented swimmer that holds the all-time record for Olympic Gold Medal wins. He’s considered by many to be the greatest swimmer of all time and continues to hold many records. While he’s most famous for his swimming skills, Phelps is also known for his philanthropy. In 2008, he founded the Michael Phelps Foundation, which promotes swimming and healthy lifestyles. It’s clear that this athlete is an icon, but what is Michael Phelps net worth?

What Is Michael Phelps’ Net Worth?

Currently, Michael Phelps has an estimated net worth of $80 million.

Thanks to his amazing swimming skills, Phelps was able to earn a number of endorsements. His sponsors include Under Armor, Subway, AT&T, Visa, Kellogs, and Speedo. Speedo was so happy with his performance in the 2008 Beijing Olympic games that they gave him a $1 million bonus. Phelps is the most successful competitive swimmer of all time, and he’s also one of the wealthiest. 

In fact, Phelps is considered to be the fifth-richest Olympian athlete. Only a handful of athletes, including Roger Federer and Serena Williams, have earned more than Phelps. 

Who Is Michael Phelps?

Michael Phelps was born in 1985 in Baltimore, MD, where he attended Rodgers Elementary School. The future Olympic swimmer first started swimming at the age of seven. From a very early age, he showed an incredible aptitude for the sport. By the age of 10, he had set a national record for his age group. At the age of 11, he started to train under swimming coach Bob Bowman at the North Baltimore Aquatic Club. 

In 2000, when he was just 15 years old, Phelps qualified for the Summer Olympics. Although he didn’t win a medal at this Olympics, he was a finalist, coming in fifth place in the 200-meter butterfly race.

After his first Olympics, he continued to compete. Phelps broke his first world record at the 2001 World Aquatics Championships World Trials, then went on to break his own record at the actual World Championship competition later that year. He set another world record at the 2002 Pan Pacific championships the following year. 

He returned to the Olympics in 2004. Not only did he win his first Olympic Gold Medal during this competition, but he won six gold medals in total, along with two bronze medals. He also set several Olympic records during this competition. 

While his performance in the 2004 Summer Olympics helped to catapult him to fame, it was the 2008 Summer Olympics that truly made Phelps a household name. He won eight Olympic gold medals in total, breaking the all-time record for the most gold medal wins during a single Olympics. The previous record of seven medals was set in 1972.

He continued to compete, bringing home four more Olympic gold medals and two silver medals during the 2012 Summer Olympics. While Phelps stated that he planned to retire after the 2012 Olympics, his retirement was short-lived. He returned to competitive swimming in 2014 and competed in the 2016 Summer Olympics, where he won five more gold medals. 

Phelps fully retired from swimming after 2016, stating that he felt he had changed the sport of swimming. He secretly married Nicole Johnson, the former Miss California USA, that same year. Today, the couple has three children: Boomer Robert Phelps, Beckett Richard Phelps, and Maverick Nicolas Phelps.

Fun Facts About Michael Phelps

Now that we’ve gone over the high points of his career, let’s look at some fun facts about Michael Phelps. 

• Even though Phelps is considered to be the greatest swimmer of all time, he didn’t enjoy swimming at first. He was afraid to put his head under the water, so his instructor encouraged him to focus on the backstroke. This practice paid off, and Phelps later set several records and won gold medals thanks to his backstroke. 
• Phelps was diagnosed with ADHD in the sixth grade. His struggles with ADHD are one of the reasons he works as a mental health advocate today. Phelps has said that his parents often took him swimming to help him burn off some of his extra energy.
• Michael Phelps followed Bob Bowman to the University of Michigan when Bowman became the college’s swimming coach. However, even though Phelps trained at the school, he was never a student there.
• He has an incredible lung capacity, which is one of the reasons he’s been such a successful swimmer. Experts have stated that his lung capacity is more than twice the average human. Thanks to his increased lung capacity, his lungs can send more oxygen to his muscles. 
• When we engage in high-intensity activities like exercise, our bodies normally produce lactic acid. However, Michael Phelps produces half the lactic acid of the typical athlete. This allows him to recover from workouts much more quickly. 
• He has double-jointed elbows! His unusual elbows allow him to create extra downward thrust when he places his arms in the water. Since Phelps also has very large hands, his hands are able to essentially function as paddles!

What Is Michael Phelps Doing Today?

Today, Phelps lives in Paradise Valley, AZ with his wife and children. Even though he has retired from swimming, he’s managed to stay very busy. In 2017, Phelps joined the board of Medibio, a company that fights against mental health stigma and works to improve early diagnosis of mental illnesses. After joining the board, Phelps announced his intention to work as a mental health advocate. 

He also continues to play an active role in the Michael Phelps Foundation. Since he established the foundation, it has expanded significantly. Children can now receive swimming lessons at the Michael Phelps Swimming School. The organization also partners with the Boys & Girls Club and Special Olympics International to provide increased access to swimming lessons. 

Every year, the foundation raises money through its Golf Classic, a celebrity gold outing. In addition to watching the golf tournament, guests can attend a golf gala. Guests are encouraged to make donations and all proceeds from the event go towards the foundation. 

Even though Michael Phelps isn’t a competitive swimmer anymore, it’s clear that he hasn’t left the world of swimming behind. All across the United States, there are kids that are learning how to swim because of Michael Phelps. 

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