How Rich is Michael Phelps? In Details About His Net Worth, Earnings and Sponsorships (2024)

Michael Phelps, a retired American Olympic swimmer, is recognized as one of the highest-paid athletes of all time. With an estimated net worth of $100 million, Phelps has achieved remarkable success both in and out of the pool. His extraordinary career includes winning an astounding 28 Olympic medals, with 23 of them being gold, making him the most decorated Olympian in history.

Born in Baltimore, Maryland, Phelps combined his studies in sports marketing and management at the University of Michigan with his rigorous training for the Summer Olympics.Phelps's exceptional talent and remarkable achievements have secured him numerous accolades and endorsements. He has been associated with prominent brands such as Under Armour, Omega, Visa, and Subway, further elevating his financial success.

Michael Phelps Net Worth

Michael Phelps, a retired American Olympic swimmer, and corporate endorser, has amassed an estimated net worth of $100 million. As the most decorated Olympic athlete in history, Phelps has achieved unparalleled success in the world of swimming, capturing a remarkable 28 Olympic medals, including an astonishing 23 gold medals. Born in Baltimore, Maryland, he attended Towson High School before embarking on his journey to become a swimming sensation.

How Rich is Michael Phelps? In Details About His Net Worth, Earnings and Sponsorships (1) Michael Phelps has an estimated net worth of $100 Million.SOURCE: Instagram- @m_phelps00

While pursuing his Olympic dreams, Phelps balanced his training with academic pursuits. He attended the University of Michigan, where he studied sports marketing and management, showcasing his dedication not only to the pool but also to his education. This dual focus allowed Phelps to hone his skills both as an athlete and as a strategic marketer, setting the stage for his future success.

Over the years, Phelps' net worth has witnessed notable growth. With reported net worth figures of $79 million in 2022, $67 million in 2020, and $57 million in 2018, his financial success has been propelled by his unparalleled swimming prowess and his strategic partnerships with renowned brands. Michael Phelps stands as an iconic figure not only in the realm of swimming but also in the world of corporate endorsements, cementing his status as a highly accomplished and prosperous athlete.

Michael Phelps Earnings

Michael Phelps has solidified his status as the most successful and decorated Olympian of all time. Across his illustrious career spanning over four Olympic Games, Phelps has amassed an extraordinary total of 28 medals, including a staggering 23 gold medals. He has participated in five Olympics, with his initial appearance in Sydney, Australia, where he did not secure a medal.

Phelps is renowned for his remarkable expertise in butterfly swimming, although he also excels in individual medleys and the 100 and 200-meter freestyle events. His journey to greatness truly took flight at the Athens Olympic Games in 2004, where he showcased his dominance by clinching an astonishing six gold medals and two bronze medals. Right from the onset, Phelps demonstrated his prowess by triumphing in the grueling 400-meter individual medley event, setting a record time.

As his career progressed, Phelps continued to expand his repertoire and prove his versatility across various swimming disciplines. He demonstrated his mastery not only in butterfly strokes but also in freestyle, backstroke, and individual medleys, focusing on the shorter distances of middle-distance swimming.

At the 2012 Summer Olympics in London, Phelps added four gold medals and two silver medals to his ever-growing collection. In a remarkable display of consistency, he went on to secure five gold medals and one silver medal at the 2016 Summer Olympics in Rio de Janeiro, solidifying his position as the most successful athlete of the Games for the fourth consecutive Olympics.

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Michael Phelps Sponsorships

Throughout his illustrious career, Michael Phelps has established himself as a sought-after brand ambassador, securing endorsement deals with numerous companies. He has lent his name and image to various brands, promoting their products and services to a global audience.

How Rich is Michael Phelps? In Details About His Net Worth, Earnings and Sponsorships (2)Michael Phelps promoting mattress brand. SOURCE: Instagram- @m_phelps00

Some notable brands that Phelps has endorsed include Subway, Visa, Speedo, PowerBar, Under Armour, AT&T, Intel, Wheaties, Beats by Dre, Radio Shack, Call of Duty, Corn Flakes, Hilton, 800razors.com, Louis Vuitton, KRAVE Jerky, Aqua Sphere, Omega watches, Master Spas, Head & Shoulders shampoo, Kellogg's, and Colgate, among others. Phelps' list of corporate sponsorships is extensive, and he is a familiar face in commercials and worldwide advertising campaigns.

Phelps' success in the pool and his unprecedented achievements have made him an appealing figure to advertisers. Following his historic feat of winning eight Olympic gold medals in 2008, Phelps reportedly earned a staggering $75 million in advertising and sponsorship deals. His exceptional performance and widespread popularity allowed him to secure lucrative partnerships and endorsement contracts with top brands, contributing significantly to his financial success.

In addition to his endorsement deals, Phelps has also ventured into partnerships and investments. He has collaborated with Aqua Sphere, a leading swimwear and equipment brand, and has become an equity investor in Talkspace, a mental health startup. These partnerships showcase Phelps' diverse interests and his desire to align himself with brands and initiatives that resonate with his personal values.

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Michale Phelps Stats

Michael Phelps has solidified his position as the most successful and decorated Olympian in history, accumulating a remarkable total of 28 medals across four Olympic Games, including a staggering 23 gold medals. Notably, he holds multiple all-time records, including the most Olympic gold medals (23), the most Olympic gold medals in individual events (13), and the most Olympic medals in individual events (16). Phelps' unparalleled achievements in the pool have made him a legendary figure in the world of swimming.

How Rich is Michael Phelps? In Details About His Net Worth, Earnings and Sponsorships (3)Michael Phelps stands at 6 feet 4 inch.SOURCE: Instagram- @m_phelps00

Beyond his Olympic triumphs, Phelps has also made notable contributions to other sports arenas. In his brief foray into basketball, he played 132 games in the NBA, averaging 3.6 points, 1.1 rebounds, and 1.0 assists. While his basketball career didn't reach the same heights as his swimming accomplishments, it showcases his versatility and willingness to explore different athletic pursuits.

Phelps' dedication to physical fitness is evident in his impressive physical capabilities. He could perform an astounding 34 consecutive pull-ups, demonstrating the strength and endurance required in swimming. Additionally, his exceptional physiological profile is highlighted by his remarkably low lactate levels compared to other elite swimmers and the general population. Phelps' legacy also includes setting the world record in the 400-meter individual medley (IM), a mark that still stands today.

How Rich is Michael Phelps? In Details About His Net Worth, Earnings and Sponsorships (2024)

FAQs

How Rich is Michael Phelps? In Details About His Net Worth, Earnings and Sponsorships? ›

Michael Phelps is one of the greatest and highest paid athletes of all time, with an estimated total net worth of $100 million. Phelps' career earnings, lucrative sponsorships and endorsement deals are the primary sources of his wealth.

How rich is Michael Phelps? ›

Net Worth Overview

As of 2024, Michael Phelps' estimated net worth stands at an impressive $100 million. This substantial wealth is a result of his extraordinary swimming career, savvy business investments, and lucrative brand endorsements.

How much did Michael Phelps make in endorsements? ›

Endorsements. One article I found estimated that Phelps' career earnings totaled $96 million, with $94 million of that number coming from endorsements. Phelps signed his first business deals after the 2004 Athens games, where he won 6 gold and 2 bronze medals.

What is Michael Phelps doing now in 2024? ›

Out of the pool and into the broadcast booth once more. That's right, 23-time gold medal-winning swimmer Michael Phelps is returning to NBCUniversal this summer and heading to Paris to work both daytime and primetime coverage at the 2024 Olympic Games.

What's Michael Phelps 50 free time? ›

Personal Best Results
EventTimeMedal
Men 50 Freestyle23.04-
Men 100 Freestyle47.77-
Men 200 Freestyle01:42.78Gold
Men 400 Freestyle03:59.16-
29 more rows

Who is the richest swimmer? ›

5 richest swimmers boast $142M collective net worth
  1. Michael Phelps. Michael Phelps in 2023. ...
  2. Mark Spitz. Mark Spitz in 2017. ...
  3. Sarah Sjöström. Sarah Sjöström won two gold and one silver medals at the Doha 2024 World Aquatics Championships in February 2024. ...
  4. Katie Ledecky. ...
  5. Caeleb Dressel.
May 30, 2024

How does Michael Phelps earn money? ›

How much money has Michael Phelps earned throughout his career? Michel has earned an estimated $100 million: about $9.3 million annually from his swimming career, $10 million annually from brand endorsements and over $75 million from sponsorships. Phelps also made money from winning Olympic medals (Prize money).

How much is a Michael Phelps gold medal worth? ›

It is estimated that Michael Phelps' Olympic gold medals could sell for at least $100,000 each, with certain medals worth much more than that, like his record-breaking 8th gold medal from the 2008 Olympic Games. Some Olympic gold medals have also been auctioned off for charity in the past.

How much does Michael Phelps make a week? ›

His annual salary varies from year to year, but financial data shows that Michael Phelps earns about $9.3 million annually, or about $780,000 a month and $180,000 a week. The vast bulk of that money comes from advertising sponsorships, investments and the value of his Baltimore condo (more on that below.)

Who is the richest sprinter in the world? ›

Usain Bolt, the Jamaican sprinting legend, is not just the fastest man in the world; he's also the wealthiest in track and field.

What does Michael Phelps do now for a living? ›

After revealing the lifelong struggles he faced with depression and ADHD throughout his life, Phelps currently works as a mental health advocate and is frequently involved in philanthropic efforts. And aside from a few appearances here and there, he has mostly kept out of the public eye.

What was Michael Phelps last medal? ›

Phelps, who had announced that he was retiring from the sport after the London Games, captured a gold medal in his final event, the 4 × 100-medley relay.

Did Michael Phelps retire? ›

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.

What time did Michael Phelps go to bed? ›

In his interview with GQ, Phelps said he usually goes to sleep shortly after his children go to bed at 7:30 p.m. "I know how important sleep is," he said. "I wanna be the best every day, and my best is getting 7 to 9 hours." I'm usually a night owl and don't go to sleep until midnight — at the earliest.

How many times did Phelps lose? ›

Phelps did not lose or miss out on any gold medals while competing for the United States of America (USA) in the Summer Olympics. He won all 23 of his gold medals in the five Olympic Games in which he participated: Athens 2004, Beijing 2008, London 2012, Rio 2016, and Tokyo 2020.

Who is the most richest Olympian? ›

That's why we're not including the likes of golfers, tennis players, basketball players or footballers.
  1. Anna Kasprzak. With a fortune estimated at around $1 billion, Anna Kasprzak is by quite some distance the world's richest olympian. ...
  2. Michael Phelps. ...
  3. Usain Bolt. ...
  4. Shaun White.
May 30, 2024

What is Usain Bolt's net worth? ›

The proud owner of eight Olympic golds and 19 Guinness World Records, Usain Bolt has turned speed into a highly lucrative franchise. According to CelebrityNetWorth's estimate, Usain Bolt's net worth is around $90 million.

How much does Speedo pay Michael Phelps? ›

In 2008 when Michael won eight gold medals, he was awarded a $1 million bonus from Speedo which he used to start his own foundation. American swimmers earned $100,000 in total for a gold medal in 2016, Michael's last Olympic Games. The majority of his fortune came from brand partnerships, bonuses and endorsements.

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