How much is Michael Phelps net worth?
Introduction
Michael Phelps is a retired American swimmer and one of the most decorated Olympians in history. Born in 1985 in Maryland, Phelps began swimming at a young age and quickly showed promise. He made his Olympic debut at the age of 15 at the 2000 Summer Olympics in Sydney, Australia, and went on to compete in four more Olympics.
Throughout his career, Phelps won a total of 28 Olympic medals, including 23 gold medals, which is the most ever won by an individual athlete. He also set numerous world records and was named World Swimmer of the Year eight times.
Phelps retired from swimming after the 2016 Olympics in Rio de Janeiro, Brazil, but continues to be involved in the sport through coaching and various business ventures. He is widely regarded as one of the greatest swimmers and athletes of all time.
As of 2024, Michael Phelps net worth is around $100 million.
Early Life
Michael Phelps was born on June 30, 1985, in Baltimore, Maryland, to parents Debbie and Fred Phelps. Phelps’ parents divorced when he was young, and he was raised primarily by his mother, who worked as a middle school principal.
Phelps began swimming at the age of seven and quickly showed promise in the sport. By the time he was 10, he had set his first national record in the 100-meter butterfly. Phelps’ talent was nurtured by his coach, Bob Bowman, who would become a major influence in his career.
Phelps attended Towson High School in Maryland, but his busy training schedule and frequent competitions made it difficult for him to keep up with his schoolwork. He eventually transferred to the University of Michigan’s swimming program, where he could receive more specialized training.
Despite his early success in swimming, Phelps struggled with attention deficit hyperactivity disorder (ADHD) as a child. He credits his mother with helping him overcome his challenges and has become an advocate for mental health awareness in recent years.
Personal Life
Michael Phelps has had a well-documented personal life, with both triumphs and challenges. He has been open about his struggles with mental health, including depression and anxiety, as well as his battles with addiction.
In 2016, Phelps married his longtime girlfriend, Nicole Johnson, a former Miss California USA. The couple has three children together: two sons, Boomer and Beckett, and a daughter, Maverick. Phelps has spoken about the importance of fatherhood and how it has changed his perspective on life.
Phelps is also an avid golfer and enjoys playing the sport in his free time. He has participated in celebrity golf tournaments and even played in the pro-am at the Waste Management Phoenix Open in 2019.
Outside of his personal life, Phelps is involved in various philanthropic efforts. He is the founder of the Michael Phelps Foundation, which promotes water safety and provides swimming lessons to children. He is also an advocate for mental health awareness and has spoken publicly about his struggles with the issue.
Overall, Phelps’ personal life has been marked by both triumphs and challenges, but he has remained a resilient and inspiring figure, both in and out of the pool.
Career
Michael Phelps’ swimming career is one of the most successful in history. Here are some of the highlights and notable achievements of his career:
- Olympic Medals: Phelps won 28 Olympic medals, making him the most decorated Olympian of all time.
- Gold Medals: Of those 28 medals, 23 were gold, which is also a record for the most gold medals won by an individual athlete.
- World Championships: Phelps won a total of 33 medals at the World Championships, including 26 golds, three silvers, and four bronzes.
- World Records: Throughout his career, Phelps set 39 world records in swimming.
- Butterfly Stroke Dominance: Phelps was particularly dominant in the butterfly stroke, winning 19 Olympic medals and 27 world championship medals in events that featured the stroke.
- Beijing Olympics: At the 2008 Olympics in Beijing, Phelps won eight gold medals in eight events, setting seven world records in the process.
- Rio Olympics: At his final Olympics in Rio de Janeiro in 2016, Phelps won five gold medals and one silver medal.
- Retirement: Phelps officially retired from swimming after the Rio Olympics, although he briefly returned to competition in 2018.
- Awards: Phelps has won numerous awards throughout his career, including Sports Illustrated Sportsman of the Year, the James E. Sullivan Award, and the BBC Sports Personality of the Year Overseas Personality Award.
- Philanthropy: Phelps is also known for his philanthropic work, including the Michael Phelps Foundation, which promotes water safety and swimming education.
Net Worth and Assets
Michael Phelps net worth is estimated to be around $100 million. A significant portion of his wealth comes from endorsement deals with companies such as Under Armour, Omega, and Visa. He has also earned substantial sums from his swimming career, including prize money, sponsorships, and appearances.
In addition to his financial success, Phelps has invested in real estate properties and launched his swimwear brand. He also owns a few luxury cars, including a Cadillac Escalade and an Audi R8, and has previously owned a $2.5 million mansion in Arizona. Overall, Phelps’ net worth and assets reflect his remarkable success both in and out of the pool.
Achievements
Michael Phelps is the most decorated Olympian with some of the major achievements of his swimming career:
- Most Olympic Medals: With 28 total medals, Phelps is the most decorated Olympian of all time.
- Most Gold Medals: Phelps’ 23 gold medals are also the most won by any Olympian.
- Most World Championships Medals: Phelps has won a total of 33 medals at the World Championships, including 26 golds, three silvers, and four bronzes.
- Most World Records: Phelps set 39 world records throughout his career.
- Eight Gold Medals in Beijing: At the 2008 Olympics in Beijing, Phelps won eight gold medals in eight events, breaking the previous record of seven gold medals held by Mark Spitz.
- Five Gold Medals in Rio: At his final Olympics in Rio de Janeiro in 2016, Phelps won five gold medals and one silver medal.
- Dominance in Butterfly Stroke: Phelps won 19 Olympic medals and 27 world championship medals in events that featured the butterfly stroke.
- Numerous Awards: Phelps has won numerous awards throughout his career, including Sports Illustrated Sportsman of the Year, the James E. Sullivan Award, and the BBC Sports Personality of the Year Overseas Personality Award.
- Philanthropic Work: Phelps is also known for his philanthropic work, including the Michael Phelps Foundation, which promotes water safety and swimming education.
Summary
Michael Phelps is an American former competitive swimmer who is widely considered to be one of the greatest athletes of all time. He began swimming at a young age and quickly rose to prominence, setting numerous world records and winning a total of 28 Olympic medals, including 23 golds.
Phelps has also won 33 medals at the World Championships and set 39 world records throughout his career. Along with his athletic success, Phelps has become a prominent figure in philanthropy, particularly through his work with the Michael Phelps Foundation, which promotes water safety and swimming education.
As of 2024, Michael Phelps net worth is around $100 million.
