Michael Phelps Net Worth

Who Is Michael Phelps and what is his net worth 2018? There are many countries participating in the Olympic Games since its inception and not won as many medals as this single sportsperson from the United States has. We are speaking about Michael Phelps.

Born on 30 June 1985, Michael Fred Phelps II is unarguably the greatest Olympic swimmer of all time. He has won a staggering 28 medals on his own, out of which 23 have been gold medals.

Michael Phelps Net Worth

His father is a former Maryland State trooper by the name of Michael Fred Phelps. Deborah Sue Phelps, his mother, is a school principal. The youngest of three siblings, Michael is of mixed descent. As a child, he had ADHD. His mother wanted Michael to learn how to swim. His sisters encouraged him as well. Therefore, Michael started learning swimming when he was around seven years old. He was an absolute natural in the pool. At the age of 10 years, he became the national record holder in his age group in the 100-meter butterfly. The famous swimming coach, Bob Bowman took him under his wing at the North Baltimore Aquatic Club. Even when he was a junior, records used to tumble like ninepins in all the age groups he participated.

At the age of 15 years, he made his Olympic debut to become the youngest swimmer to participate in the US Olympic team. Though he did not win any medals, he provided a glimmer of what might follow in the subsequent years by coming fifth in the 200-meter butterfly event.

He became a world champion at the age of 15 years when he broke his own world record set earlier in the tournament to win the 200-meter butterfly event. In the event, he became the youngest swimmer ever to own a World record.

After winning the World championships, the Pan-Pacific championships should be a piece of cake. The 2003 World Championships saw him winning six medals, four of them gold. The 2004 Summer Olympics was the next big event on his radar. He participated in eight events and won medals in all of them, with four individual gold medals, two gold medals in the relays and a couple of bronze medals.

The 2005 World Championships saw him winning five gold medals and a silver. The next World Championship in 2007 was his best ever until date with Phelps winning seven gold medals and breaking five world records in the process. The 2008 Olympics in Beijing has been his best ever performance winning eight gold medals out of which five were in the individual events. He set new World records in seven of those events and broke the Olympic record in the 100-meter butterfly.

The rain of gold medals continued with five more each in the 2009 World Championships and the 2010 Pan Pacific championships. The 2011 World Championship can count among his lesser productive forays with only four gold medals. After having broken Mark Spitz’s record of seven individual gold medals (Munich 1972) in the 2008 Summer Olympics, Phelps stated that he would never take part in eight events again. He participated in six events in the 2012 Summer Olympics in London and won four gold medals and two silver medals.

Deciding that he had enough success, Phelps announced his retirement from competitive swimming in 2012. However, the lure of the pool could not keep him out for long. He came back from retirement and participated in the 2014 Pan pacific Championships. He had a moderate championship with three gold and two silver medals. Any other athlete would have been over the moon with this performance.

He participated in the 2016 Olympic Games in Rio winning five more gold and one silver medal making it a tally of 28 medals overall in the Olympics alone. There may be hundreds of countries in the world not having won 28 medals in the Olympics since the start of their participation in the Games.

The greatest achievement of Michael Phelps is that he has not failed a single drug test proving that he is the cleanest athlete around in the world. He attributes his success to his coach Bob Bowman.

We have spoken about Michael Phelps’ achievements in the pool. He may have to buy a new apartment just to display his gold medals.

Every person in the world has a negative side to his personality. Michael Phelps has one as well. He has been arrested by the police for driving under the influence of alcohol in 2004. Phelps expressed deep regret for the incident stating that he had let his people down in the eyes of the world. He repeated the offense in 2014 forcing the USA Swimming to suspend him for six months. The law is the same for everyone in the US. It does not matter whether you are a World Champion.

There is a philanthropic side to Michael Phelps as well. He has donated a lot to set u the Michael Phelps Foundation to help people focus on swimming and adopting healthy lifestyles.

On the personal front, he has married Nicole Johnson, a former Miss California USA. They have a son as well, Boomer Robert Phelps born on 05 May 2016.

Education: His mother was a school principal. Hence, education was compulsory for Phelps as well as his sisters. Phelps had ADHD as a child. However, he attended the Rodgers Forge Elementary school initially followed by the Dumbarton Middle School. He completed his school education at the Towson High School. He graduated from this school in 2003.

Michael Phelps Net Worth

The net worth of Michael Phelps is $57 million. With an illustrious career as described above, it is not difficult to find out from where Michael Phelps amassed such a net worth. He has his share of endorsements and sponsorship’s as well. When he was at his peak in 2008-09, he used to get $100,000 for just doing a few laps at the pool in any party. That is a lot of money. He has his sponsorship deals. Since the 2012 London Games, he has earned more than $12 million in sponsorships alone.

Endorsement and sponsorship deals are nothing new for sports celebrities. If the sportsperson happens to be as capable as Michael Phelps is, the rates can be astronomical. You can gauge the amounts from the simple deduction that he used to get $100,000 for doing a couple of laps at a party.

He is the most decorated athlete of all time in the history of the Olympics. He has set very high standards that it could prove impossible for anyone to break. People used to say the same about Mark Spitz. However, Phelps broke all his records. Time alone can tell whether there will come a better athlete.