Michael Phelps Net Worth: Vacations, Investment & Charity

Twenty-three times Olympics Gold Medalist Michael Phelps has a net worth of $100 million. The American swimming legend is imminent for winning the Swimming World Swimmer of the Year eight times.

Likewise, Phelps has won Swimming World American Swimmer of the Year eleven times.

Apart from that, he holds thirty-nine world records, out of which twenty-nine are individual records, and ten are relay records.

Similarly, this legend has won sixty-six gold medals in total, out of which twenty-three gold medals are from the Olympics.

Then, the remaining medals are twenty-six gold medals from World Championships (LC), one from World Champion (SC), and sixteen from Pan Pacific Championship.

Michael Phelps
Michael Phelps (Source: popsugar.com)

Besides, Michael Phelps is the #1 swimmer in the history of the Olympics. But, equally important, Phelps made his Olympics debut in 2000 when he was 15 years old.

Talking about Michael Phelps’s net worth, most of his income is from his endorsements. Since he is the #1 swimmer, these endorsements deal are driving his lavish life.

Quick Facts:

NameMichael Fred Phelps II
BirthdateJune 30, 1985
BirthplaceBaltimore, Maryland, United States
Age37 Years Old
Nationality American 
Ethnicity Mixed (English, Scottish, Irish, German, and Welsh)
Religion Christianity 
Father’s NameMichael Fred Phelps
Mother’s NameDeborah Sue “Debbie” Phelps
Siblings 3
Education Rodgers Forge Elementary
Dumbarton Middle School
Towson High School
ProfessionCompetitive Swimmer
NicknameThe Baltimore Bullet, Flying Fish
Height6 ft. 4 inches (1.93m)
Weight 88 kg (194lb)
Body Measurements Chest – 46
Waist- 3
Biceps- 16
Hair ColorBrown
Eye ColorHazel
CoachBob Bowman
Zodiac SignCancer
Net worth $100 million 
AchievementSwimming World World Swimmer of the year (8 times)
Swimming World American Swimmer of the year (11 years)
23 Olympics Gold Medal
World Records39 (29 individuals, ten relays)
Salary$9,300,000
StrokesButterfly, Individual Medley, Freestyle Backstroke
ClubNorth Baltimore Aquatic Club
Endorsements Omega Watches
Aqua Sphere
Master Spas
Krave
Speedo
Under Armour
Sexual Orientation Straight 
Marital status Married
WifeNicole Johnson
Children Boomer Robert Phelps
Beckett Richard Phelps
Maverick Nicolas Phelps
MerchSwimming Gear
Hobby Golfing
Olympic debut2000 (Age 15)
Social Media Twitter 
MerchandiseSwim Cap, Book
Last Update November, 2022

Michael Phelps | Early Life And Career

Michael Phelps was born on June 30, 1985, in Baltimore to Michael Phelps Sr. (father) and Deborah (mother). While growing up, Phelps had an average childhood along with his two sisters.

Further, he went to Rodgers Elementary School and started to get interested in swimming while his sisters gained some fame from swimming.

Next, Phelps felt there is a scope for swimming and started getting training from seven.

When Phelps was just ten years old, he held the United States record for 100 meters bitterly and caught the attention of various high-profile coaches.

Michael Phelps Is The Best Swimmer In The World.
Michael Phelps Is The Best Swimmer In The World. (Source: yourswimlog.com)

After that, there has not been looking back for Phelps because he created record after record.

Thus, Phelps become one of the most adored and celebrated swimmers in the United States and the Olympics quickly.

However, at the age of 31, Phelps decides to retire. Hence, he becomes both the youngest and oldest Olympics swimmer during his career.

Michael Phelps | Net Worth And Income 

In brief, Michael Phelps has an enormous net worth of $100 million. Similarly, Phelps earns $9,300,000 on an annual basis.

What’s more, in 2012, Micheal earned $12 million from his various brand deals and endorsements.

Micheal earns around $2 million a year from his swimming career. Apart from that, Phelps has won various medals and prize money.

Twenty-eight Times Olympics Gold Medalist Michael Phelps.
Twenty-eight Times Olympics Gold Medalist Michael Phelps. (Source: swimlog.com)

For every type of medal, there is prize money fixed by the Olympic committee too.

As per the Olympic committee, a swimmer winning a gold medal wins $25,000, a silver wins 15,000, and bronze wins $10,000.

And Phelps has won twenty-three awards of them, which means he earned $5,75,000 as prize money.

Besides, Phelps has won three silver medals, making $45,000, and two bronze medals, making the prize money $20,000. Hence, in total, Phelps has won $640,000 from his Olympic prize money to date.

Net Worth Of Michael Phelps In Different Currencies

Also, have a look into Michael Phelps’s net worth in different currencies

CurrencyNet Worth
Euro€ 67,434,800 
Pound Sterling£ 57,537,200 
Australian Dollar$ 108,855,360A
Canadian Dollar$ 99,793,600C 
Indian Rupee₹ 5,948,432,000 
BitCoin฿ 2,047

Michael Phelps | Houses And Cars

For someone like Micheal Phelps, who earns millions, his House is expected to be nothing less than a mansion. Meanwhile, this Olympic swimmer is residing in an Arizona home.

Moreover, he had a Mediterranean-style home that he bought for $4.125 million, which is 6088 square feet, luxuriously furnished with Carrera marble, walls made of shiplap, a pool, and a hot tub.

But, he couldn’t profit from it, as he had to sell it for $3.75 million. Currently, Phelps has bought a $2.5 million home, which has a massive space of 6,000 square feet.

It has five bedrooms with a marble center island kitchen and a garden full of fruit trees. And this house is located near Arizona State University.

Cars

Michael Phelps earns in a million, and no wonder he has a wild expenditure pattern. Phelps loves collecting cars, and he has some luxurious cars and supercars.

In addition to this, he has modified all his cars as per his preference and taste. Following are some of the cars that Micheal Phelps owns.

  • BMW 760 Li
  • Ferrari
  • Range Rover
  • BMW
  • Cadillac Escalade

Michael Phelps | Lifestyle And Vacation

With a total net worth of $100 million, there is no doubt that Michael Phelps lives a lavish life. He spends millions of dollars on luxury cars, homes, charity, and vacations.

However, this celebrity swimmer doesn’t have to spend a lot of money because he has numerous endorsements and sponsorships covering his expenses.

Michael Phelps has an expensive lifestyle. He wears the Seamaster Planet Ocean 600M watch with its ‘MICHEAL PHELPS Limited Edition”.

MICHEAL PHELPS Limited Edition Watch. (Source: Pinterest)
MICHEAL PHELPS Limited Edition Watch. (Source: Pinterest)

Furthermore, this watch was made to honor Michael Phelps and his career.

Along with it, Phelps owns Tag Heuer Correrawortth for $222,000, and he also has a Rolex, which is worth $30,000.

Vacations

No doubt, Phelps has visited various countries around the globe as he has traveled to different countries for games and tournaments.

However, when Michael is not working or free, he loves to spend time with his family and go on vacation.

Michael loves to go to exotic places such as Greece, Italy, the Maldives, Bali, etc. These are the places with a great views, beauty, seas, and beaches.

No wonder anyone would love to spend time in silent, quiet places far away from crowds and noise, likewise Phelps.

Michael Phelps Enjoying His Vacation With Family
Michael Phelps Enjoying His Vacation With Family (Source: Instagram)

However, in 2019 Phelps Maldive’s pictures went viral and became the talk of the town.

By looking at the pictures, one can easily tell Phelps is enjoying his holiday as he is seen playing volleyball, spending quality time with his family, and sunbathing.

Charity

Apart from being a good athlete, Michael Phelps is a generous kind of person. He has been helping needy people as much as he can.

As Michael Phelps has a net worth of $100 million, donating some money is not a big deal. Michael Phelps is the founder of the Michael Phelps Foundation.

However, this foundation focuses on growing swimming and promoting healthy and active life.

Further, this program is specially developed for small kids to know the importance of healthy living and exercise from a very early age.

Apart from that, Michael Phelps has openly supported and raised funds for BID 2 BEAT AIDS, the Boys and Girls Club of America, the Make-A-Wish Foundation, and many more.

In 2008 Michael donated $1 million of his prize money to charity. Indeed, this is the kindest and most selfless thing that not everyone could do.

Michael Phelps | Brand Endorsement And Investment

Altogether, more than 60% of  Michael Phelps’s money is earned from brand endorsements and sponsorship deals rather than a swimming career.

Phelps, being one of the biggest names in the world, certainly, any brand would like to endorse their product through him. As it would increase their brand value, face value, and market value.

Specifically, Subway, Wheaties, Louis Vitton, Speedo, Omega, Master Spas, Sol Republica, Sphere, and 800 razors.com are some of the big brands endorsed by Micheal Phelps.

“Michael Phelps earn more than $75 million from brand endorsements and sponsorship of popular companies.” 

Additionally, Phelps’ under armor sponsorship gets $5 million a year, and once Speedo gave $1 million to Phelps because he broke the Olympics world record to Mark Splitz.

However, Phelps donated all that prize money to charity.

Investments

Since his retirement, Phelps is investing in a few tech projects related to software. However, as he is new to this, he is taking his time to invest in promising projects and earn well.

Michael Phelps 2022 Update

Michael in the recent news opened up about the issue of depression in the Olympic swimming committee

“Competing was one of my favorite things. I was a shark and smelt blood in the water and kept going,” he said.

He feared opening up would be “a sign of weakness, giving competitors an edge,” adding: “I went through a period where I didn’t want to be alive.”

He also included the awareness of an ‘open category’ for transgender swimmers. In order to provide them equal place and identity in sports.

Controversies

Phelps was only 19 when he was arrested for a DUI, and in 2009, Phelps came under another controversy regarding a picture of him using a bong surfaced online.

Phelps was detained for drunk driving once more in 2014. The 22-medal winner of three Olympic titles had been through severe depression too. 

Michael Phelps | Books, Magazines, And Movies

Michael Phelps is a sensation and is adored by various people. He is an inspiration to many swimming lovers and aspiring swimmers.

Above all, various motivating books, movies, documentaries, and magazines have been written and published about Michael. 

Book

Two books have been published by Michael Phelps. First, in 2014 “Beneath the Surface” was published and released in the market.

Brian Cazeneuve wrote this book, and the co-author of the book was Michael Phelps.

Furthermore, this book is the autobiography of Michael Phelps, which has contents like early life, struggles, and hardships.

Beneath The Surface Book Authored By Michael Phelps
Beneath The Surface (Source Good Reads)

Secondly, another book was released in 2009, and hence, this book was also written by Michael Phelps and another author Alan Abrahamson.

The book Train With A T. Rex And Win Eight Gold Medals is also the biography of Michael Phelps. It is written in simple words to understand the importance of healthy life and regular practice.

Likewise, this book depicts the experiences of Michael Phelps while he won the eight gold medals in China Olympics and the emotions he went through before and after the match.

Magazines

Undoubtedly, Phelps is a swimming sensation who has successfully garnered so much love, appreciation, and affection from the audience. Accordingly, he has also been featured in various magazines.

Michael Phelps In Cover Of A Magazine
Michael Phelps On The Cover Of A Magazine (Source: Pinterest)

Namely, Man’s Health Magazine, Swimming World, parents, Sports Illustrated, Splash, etc., are famous and renowned magazines featured by Michale Phelps.

Documentary

Moreover, Michael Phelps has a documentary of his own. 

“Michael Phelps: Medals, Memories, and More” (Source: Youtube)

TheMichael Phelps: Medals, Memories, and More” documentary were released to mark 100 days until the Tokyo Olympics.

Facts About Michael Phelps

Michael eats 10000 calories of food on an everyday basis. When Phelps was 15 years old, he became the youngest Olympian to break the record.

However, at that time, he was just nine months younger than the previous swimmer. Surprisingly, Michael doesn’t charge millions to endorse every brand. For some brands, he charges $15,000.

Some FAQs:

Who is Michael Phelps’s trainer?

Bob Bowman is the trainer or coach of Michael Phelps. Michael has mentioned him time and again.

What is Michael Phelps’s 100 fly time?

As per the record, Michael Phelps’s 100 fly time is 49.50, as stated in the news and the scoring system.

Does Michael Phelps have any disability?

Michael doesn’t have any physical or permanent disability although when Michael was in sixth grade, he was diagnosed with ADHD. 

How many Olympic gold medals has Michael Phelps won?

Being a successful swimmer, Michael Phelps has won 23 gold medals in Olympics as per his record.

Is Michael Phelps the best swimmer in the world?

Obviously, yes, with his score level we can say Michael is considered the best swimmer in the world.

Is Michael Phelps competing in the 2020 Tokyo Olympics?

Sadly, swimming fans Michael Phelps is not competing in the 2020 Tokyo Olympics.

However, he will be serving as an NBC analyst on several swimming races during the Olympics Games alongside Rowdy Gaines and Dan Hicks.

How old was Michael Phelps in his first Olympics?

Michael Phelps was only 15 years only when he competed in his first Olympics at the 2000 Summer Olympics in Sydney, Australia.

Who won the 100-meter backstroke at the 2014 Bulldog Grand Slam?

Michael Phelps with his efficiency won the 100-meter backstroke at the 2014 Bulldog Grand Slam.

How many calories does Michael Phelps intake?

Michael Phelps intakes 10000 calories in a day. Likewise, he burns around 3,000-10,000 calories a day.

What is Michael Phelps’s time for 50 freestyle?

Michael is naturally so tactful with his techniques, so Michael Phelps’s time for 50 freestyle is 23.04.

Who has won the most gold medals in a single Olympics?

Michael Phelps did a remarkable performance and won the most gold medals in a single Olympics.

How many world records does Michael Phelps currently hold?

Michael Phelps has maintained his stats by currently holding four world records and four individual Olympic records.

You might want to read: <<71 Amazing Michael Phelps Quotes that will inspire you to succeed>> 

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