Michael Phelps Net Worth: Career & Lifestyle

The legendary swimmer Michael Phelps, who holds an unreal 28 Olympic Medal Collection, has an outstanding net worth of $80 Million.

Phelps made his official Olympic debut when he was just 15 years old. Since then, he’s competed, won, and set a total of 39 world records, most of which remain unbroken to date!

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In Frame: Michael Phelps

Titled the Most Decorated Olympian, he holds 23 Olympic gold medals and 26 gold medals from World Championships (LC), 16 from Pan Pacific Championship, and 1 from World Championship (SC) in his arsenal.

Through his numerous international endeavors, he has been bestowed with the World Swimmer of the Year Award – eight times and the American Swimmer of the Year Award – eleven times.

Besides that, he’s been the face for several prestigious brands scattered around the world, an author, a TV personality, and a humanitarian too!

Quick Facts

Before we get to the specifics, here are a few well-known facts about the legendary footballer:

Full Name Michael Fred Phelps II
Net Worth $80 Million
Birth Date June 30, 1985
Birth Place Baltimore, Maryland
Nick Name The Baltimore Bullet, Flying Fish
Religion Christianity
Nationality                          American
Ethnicity English, Scottish, Irish, German and Welsh
Languages Spoken English
Education Rodger Forge Elementary

Dumbarton Middle School

Townson High School

Father’s Name Michael Fred Phelps
Mother’s Name Deborah Sue Phelps
Siblings 3
Offspring 3 (Boomer Robert Phelps, Beckett Richard Phelps, Maverick Nicolas Phelps)
Age 81 Years Old
Height 6 Feet 4 Inches (1.93m)
Weight 88 kg (194 lbs)
Body Measurements Chest – 46

Waist – 3

Biceps – 16

Eye Color Black
Sexual Orientation Straight
Marital Status Married
Spouse’s Name Nicole Johnson
Profession Competitive Swimmer
Stroke Butterfly, Individual Medley, Freestyle Backstroke
World Records 39 (29 Individual, 10 Relays)
Top Speed 6 miles per hour
Olympic Debut 2000 (Age 15)
Club North Baltimore Aquatic Club
Active Since 2000
Endorsements Louis Vitton, Visa, Colgate, Omega Watches, Aqua Sphere, Master Spas, Krave, Speedo, Under Armour
Merch Signed Sports Illustrated, Signed Photo, Framed Display
Social Media Twitter, Instagram
Last Update May, 2022

Michael Phelps: Net Worth and Income

The greatest swimmer of all time i.e., Micheal Phelps, has an accumulated net worth of $80 Million. 

Though a portion of this sum comes through his titles and sporting events, most of his earnings are through numerous endorsement deals.

It’s been revealed that Michael Phelps earned an average of around $9.3 Million on an annual basis towards the end of his career. Out of which, he earned somewhere close to $2 Million through his swimming career.

Through his Olympic medal winnings, he has earned a total of $640,000. Out of which 23 gold medals carried $575,000, with each win getting him $25,000.

In 2008, for bagging a total of 8 gold medals, he received an additional $1 Million as a bonus from Speedo.

The rest of his earning is all through endorsement deals. Through his sponsorships and advertisement deals, he has earned close to $75 million over the years.

Net Worth of Michael Phelps in Different Currencies

Let’s have a look at Michael Phelps’s net worth in different currencies. 

Currency Net Worth
Euro € 68.07 Million
Pound Sterling £ 58.27 Million
Australian Dollar A$ 110.15 Million
Canadian Dollar C$ 101.03 Million
Indian Rupee ₹ 5,933,848,000
BitCoin ฿ 1,642.56

Michael Phelps: Houses & Cars

House

One of the perks of being a multimillionaire is definitely the ability to afford mansion-like homes. And, Micheal Phelps surely knows how to use this ability.

At the moment, Phelps is residing in his $2.5 million home that’s stationed in Arizona. The $10,000-square-foot mansion features 6 bedrooms, 8 bathrooms, a hot tub, pool, and a separate barbeque area!

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Michael Phelps’ home in Arizona [Source: baltimoresun.com]
Before he had this mansion, Phelps resided in his Paradise Valley home that was initially bought for $4.125 million.

The 6,000-square-foot house was furnished with Carrera marble, has 5 bedrooms, 6 and a half bathrooms, a giant swimming pool, and more. However, he chose to sell it, and it was listed up for $3.75 million.

A while back, Michael Phelps even had a condo in Baltimore that he purchased for $1.69 Million in 2007. But, he sold it later as well for a price of $1.25 Million.

Cars

Michael Phelps is a modest guy, and like any other guy, he has a fascination for cars. To date, he has had some lovely cars in his garage.

His most prized four-wheeler is probably the Mercedes Benz SL63, which costs somewhere around $250,000.

michael-phelps-car
Michael Phelps with his Mercedes Benz SL63

Besides the convertible, the superstar’s collection includes the following,

  • BMW 760 Li
  • Range Rover
  • Cadillac Escalade

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Michael Phelps: Lifestyle & Vacations

Lifestyle

It’s quite obvious that the multimillionaire Phelps leads a lavish lifestyle. But, he still prefers to follow a specific routine every day for his successful lifestyle.

The first thing on the list is, of course, a workout. To maintain his physical form and prowess, workout plays a crucial role. He even says that it gets him well prepared for the day.

After that, he spends time with his kids, getting them ready, feeding them, and taking them to school.

Though he is retired as a swimmer, he is still pretty busy as an entrepreneur. He still has to go out to different places to perform his daily duties, answer emails and make phone calls.

When he’s not working, he sometimes prefers to play golf too. The athlete has a keen interest in golf and, in the future, may even pursue golf competitively.

He has a way of tracking down his goals, both short-term and long-term. Basically, he writes them down and frequently checks on them.

Vacations

Something that the athlete absolutely enjoys doing is going out on vacations as often as he can. It’s no surprise that he’s been to several countries around the world for his competitions.

michael-phelps-vacation
Michael Phelps vacationing in Maldives [Source: maldives.net.mv]
But, it’s not just during the games; whenever he is free, he takes time off and gathers around his family. Together with his family, he just loves to escape away from the crowd.

He prefers to go to tropical islands such as the Maldives, Bali, Bahamas, and many more.

Charity

The thing that makes Michael Phelps great is not just his dedication to his sport. It’s the kind of humanitarian act that he shows outside that truly makes him worth all the praise in the world.

He has made numerous contributions throughout the year, helping others whenever he can.

He even has a non-profit organization, “Michael Phelps Foundation,” that he established after getting the $1 million bonus for winning 8 gold medals at the 2008 Beijing Games.

The foundation is focused on growing the sport of swimming and promoting healthy and active lives, especially for children. In partnership with KidsHealth, the foundation has reached 15,000 Boys & Girls Club members!

Additionally, they have also established the Level Field Fund-Swimming, a grant-giving program that provides funding to talented swimmers in need and offers autographed swim caps for charity auctions.

Besides that, Michael Phelps has also supported numerous organizations, including BID 2 BEAT AIDS, Boys & Girls Clubs of America, Make-A-Wish Foundation, Muhammed Ali Parkinson Center, ONE DROP, and more.

Michael Phelps: Movies & TV Shows, Book Publications Endorsements

Movies & TV Shows

You may think that a professional swimmer may not have connections with the Movies and TV industry. But, you may want to rethink that.

Michael Phelps has appeared in a couple of TV shows before, and I don’t mean documentaries. His first appearance was back in 2007 when he played a short role in a music video of No More Kings titled “Sweep The Leg.”

Similarly, he appeared in another music video by Space Olympics’ “Lonely Island,” where he portrayed the character of a space Olympics athlete.

His sort of big role came in 2014 when he appeared in the hit TV series Suits.” He can be seen in the 11th episode of the 3rd season, titled Buried Secrets.”

Of course, besides all this, there are a couple of documentaries specifically made upon him.

In fact, the documentary titled “Michael Phelps: Medals, Memories & More” was premiered on April 14 to mark the 100 days until the start of the Tokyo Olympics.

His most recent feature is in the HBO documentary, “Weight of Gold,” where he discusses the mental challenges and other difficulties he had to face as a professional athlete.

Book Publications & Magazines

Besides being in movies & tv shows, there are 2 books published on Michael Phelps. The first one, published in 2009, was written by Michael Phelps and Author Alan Abrahamson.

Train with a T.Rex and win eight gold medals is the title of the biography, and basically, it explains his years of training and his daily regime.

In 2014, another book was written by Brian Cazeneuve, and Michael Phelps co-authored it.

Titled Beneath the Surface, it’s basically an autobiography that mostly explores early life, complications, and remembrance of his past.

Similarly, being the star he is, he has also been featured in several magazines throughout the years.

Thousands of articles have been published in his name, from prestigious magazines such as Sports Illustrated, Man’s Health Magazine, Splash, and more.

Endorsements

Endorsements have always been a steady source of income for the swimmer. His partnership and sponsorships with numerous brands have earned him millions and are continuing to do so.

Over the years, speedo and under armor have been the biggest sponsors for Phelps. Speedo was with him in his early beginnings and was a huge contributor to his net worth.

In 2008, Speedo gave Phelps a bonus amount of $1 Million for bringing in 8 gold medals. Through this amount, he established the Michael Phelps Foundation. Phelp’s contract with speedo ended in 2013.

Even though the exact details haven’t been disclosed, it was rumored that Phelps bagged around $5 Million from his partnership with Under Armor.

Besides that, he’s worked with several giants, including Louis Vitton, Visa, Colgate, Omega Watches, Intel, Call of Duty, Beats. And he continues this endeavor, thus bringing him big bucks despite retiring.

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5 Facts About Michael Phelps

  • Michael Phelps consumes a total of 12,000 calories every day. In comparison, an average person requires 2000 calories per day for daily functioning!
  • At just 15 years and 9 months, he was the youngest male to break a world record in swimming! He started swimming at just 7 years old.
  • Phelps has slept in a high-altitude chamber at night to improve performance.
  • Once, Shaquille O’Neil and Michael Phelps swam against each other.
  • Michael Phelps is the most decorated Olympian of all time.

FAQ’s

Is Michael Phelps Retired?

Yes. Michael Phelps announced his retirement from professional swimming in 2016, right after adding 5 Olympic gold medals to his arsenal.

Did Michael Phelps attend the 2020 Tokyo Olympics?

Yes, he did appear at the 2020 Tokyo Olympics but not as a competitor. Rather, he was serving as an NBC analyst on several swimming competitions.

How many Olympics has Michael Phelps Attended?

Since his debut in the year 2000, Michael Phelps has swum in 5 Olympics, with his last one in 2016 that was held in Rio.

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