Michael Phelps Net Worth – $100 Million
Michael Phelps has a net worth of $100 million USD. He is a retired American Olympic swimmer and business endorser. Michael Phelps has won 28 Olympic medals, making him the most decorated Olympic athlete in history (23 of them gold) Many people see him as the best swimmer in history.
In Baltimore, Maryland, Michael Fred Phelps II was born on June 30, 1985. Deborah, a middle school administrator, and Michael Fred Phelps, a former state policeman, have three children. In 2000, his father remarried after his parents separated when he was nine years old. After their father’s divorce, Phelps regarded the siblings’ connection with him as tense. He graduated in 2003 from Towson High School, which is located just north of Baltimore.
At the age of seven, Michael began swimming with the help of a coach, and adults soon saw his potential. When he was just 15 years old, he tested out for the United States Summer Olympic Team and made it. Phelps did not win a medal at the Sydney Olympics, although he did make the finals in the 200-meter butterfly and finished fifth.
Phelps established a world record in the 200-meter butterfly in the spring of 2001, becoming the youngest male swimmer in history to do it. He set a new world record and earned his first international medal at the 2001 World Championships. Phelps broke five world records only after graduating from high school. Phelps studied sports management and marketing at the University of Michigan in Ann Arbor, where he was coached by Bob Bowman. At the Pan Pacific and World Championships, he continued to set world records year after year.
Phelps earned 17 medals in his next two Olympic games, including six gold, two silver, and eight gold in Athens and Beijing, respectively. At the 2008 Beijing Olympics, Phelps set a new record for the most Gold Medals won in a one Olympics competition, breaking Mark Spitz’s previous record of seven. He set a new world record of 5.5 miles per hour in the 100-meter butterfly in 2009. He won four gold medals and two silver medals in the 2012 Summer Olympic Games in London.
Phelps teased a retirement after the London Olympics, but he went on to swim in the Mesa Grand Prix in 2014, while the rest of the world pondered on whether he’d compete in the following Olympics. He completely returned to competition for the 2016 Rio Olympics, becoming the first American male swimmer to be selected for five Olympic teams. During that year, he won five gold medals and one silver.
Phelps declared his retirement on August 12, 2016, despite expectations that he will return for the 2020 Olympics. He holds the most Olympic medals of any athlete to date. He holds the record for most world records with 39.
Michael has had one of the most successful post-Olympic careers in American history as a result of his achievements. He has a slew of sponsors and appears in commercials and advertisements all around the world. Over the years, his sponsorships with well-known brands such as Under Armour, Visa, Speedo, Wheaties, and others have boosted his net worth.
Life in General
Phelps has been regarded as a self-sufficient, isolated, and determined athlete. During each Olympic Games, he earned a reputation for not being a “joiner,” preferring solitude to social group activities. He marched in his first Olympic Opening Ceremony in 2016, his final Olympics. When it comes to connecting with supporters and young children who look up to him for motivation, his former coach has characterized him as “unbelievably kind-hearted.”
On June 13, 2016, Michael tied the knot with Nicole Johnson, the former Miss California USA. Their marriage was kept a secret for four months before it was made public. Boomer Robert Phelps, Beckett Richard Phelps, and Maverick Nicolas Phelps are their three boys, born in 2016 and 2018 respectively (b. 2019). They live in the Phoenix suburb of Paradise Valley. Along with his old coach, Bowman, Phelps is now a volunteer assistant coach with the Arizona State Sun Devils.
After competing in the 2012 Olympics, Phelps disclosed that he suffers from depression and ADHD and that he considered suicide. He has been vocal about his struggles and is a supporter of individuals seeking mental health treatment when they are in need. He joined the board of directors of Medibio, a company that specializes in diagnosing mental health conditions, in 2017.
Phelps used $1 million of his Speedo signing bonus after the 2008 Olympics to establish the Michael Phelps Foundation. The charity is dedicated to encouraging people to lead healthy lives. He is one of the co-founders of Swim with the Stars, a non-profit organization that hosts camps for swimmers of all ages.
Issues of Law
In November 2004, Phelps was arrested in Salisbury, Maryland, for driving while intoxicated. He pled guilty and received a $250 fine, probation, and a need to talk to high school students about drunk driving. Due to an image of him using a bong that circulated in 2009, he lost a sponsorship arrangement with Kellog. In 2014, he was detained for DUI and speeding for a second time. Michael was barred from competing for six months, and the United States failed to qualify for the 2015 World Aquatics Championships finals as a result of his absence.