Michael Phelps (born June 30, 1985) is the most decorated Olympian ever, with 28 medals, including 23 gold. At the 2008 Beijing Games, he broke Mark Spitz’s record with eight golds.
Over five Olympics, Phelps won 13 individual golds and dominated swimming with records in multiple events. He earned 82 major international medals (65 golds) and was named World Swimmer of the Year eight times. After founding the Michael Phelps Foundation, he retired in 2016 and is hailed as one of the greatest athletes in history.
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Michael Phelps Net Worth
Michael Phelps has a net worth of $100 million, bought a Baltimore condo in 2007 for $1.69 million but sold it for $1.25 million after the market crash. He later lived in a Canton townhouse for four years, selling it for $960,000 in 2016. In 2015, Phelps moved to Paradise Valley, Arizona, purchasing a $2.5 million home.
He listed it for $4.1 million in 2018, ultimately selling it for $3.5 million, showcasing his transitions in luxury real estate over the years.
Early life
Michael Phelps, born in Baltimore, Maryland, and raised in Towson, is the youngest of three siblings. His mother, Debbie Phelps, is a school principal, and his father, Michael Fred Phelps, a retired state trooper, divorced in 1994, which strained their relationship.
Diagnosed with ADHD in sixth grade, Phelps began swimming at age seven, inspired by his sisters and coached by Bob Bowman at the North Baltimore Aquatic Club. By age 10, he set national age-group records, showcasing his early dominance in the sport. He graduated from Towson High in 2003.
Career
Michael Phelps began swimming at age 7, quickly showcasing his talent. At 15, he made the U.S. Olympic Team in 2000, finishing fifth in the 200-meter butterfly. In 2001, he set his first world record. Over his career, Phelps won 28 Olympic medals, including 23 golds.
He broke 39 world records and became the most decorated Olympian in history. Following his Olympic success, Phelps secured lucrative sponsorships with brands like Under Armour, Visa, and Speedo, boosting his net worth significantly. He retired after the 2016 Rio Games.
Personal life
Michael Phelps, known for his independence and focus, preferred solitude over group activities during his Olympic career, participating in an Opening Ceremony for the first time in 2016. Married to Nicole Johnson, former Miss California USA, since 2016, they have four sons and live in Paradise Valley, Arizona, where Phelps volunteers as an assistant coach for the Arizona State Sun Devils.
Open about his struggles with depression and ADHD, Phelps advocates for mental health awareness. He founded the Michael Phelps Foundation, promoting healthier lifestyles, and co-founded Swim with the Stars camps.
Why did Michael Phelps retire?
Michael Phelps retired after the 2012 London Olympics, citing that getting older made it harder to recover, and he wanted to explore life beyond swimming. He expressed a desire to travel and see new cities, as he felt all he had experienced were pools and hotels.
However, he made a comeback in 2014 and competed in the 2016 Rio Olympics, where he earned five gold medals and one silver before retiring for good.Michael Phelps was 15 years old in his first Olympics, the 2000 Sydney Games, where he finished fifth in the 200-meter butterfly.
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Conclusion
Michael Phelps’s journey from an Olympic champion to a successful entrepreneur and advocate is as inspiring as his record-breaking swims. His net worth of $100 million is a testament to his hard work, both in the pool and in his various ventures, making him a role model for athletes and entrepreneurs alike.
FAQs about Michael Phelps’ Net Worth
- What is Michael Phelps’s net worth?
As of 2023, Phelps’s net worth is estimated at $100 million. - How did Michael Phelps earn his wealth?
His wealth comes from his swimming career, endorsements, sponsorships, and business ventures. - Is Michael Phelps married?
Yes, he is married to Nicole Johnson, with whom he shares three children and is expecting a fourth. - What business ventures does Phelps have?
Phelps owns a swimwear brand, MP, and is involved in various other business and advocacy works. - What is Phelps doing now after retiring from swimming?
He focuses on advocacy for mental health and water conservation, runs his foundation, and enjoys family life.
