Michael Phelps Net Worth: Career, Cars & Quick Facts

Michael Phelps Medals
Michael Phelps Medals (Source: Esquire)

The former star American swimmer Michael Phelps’s net worth is a staggering $80 million.

To begin with, the former American swimmer has a record of 23 gold medal wins in the Olympics, making him the most decorated athlete of all time.

Michael Phelps has amassed a huge net worth of $80 million
Michael Phelps (Source: Biography)

Whatsmore, Phelps holds the record of winning the World’s Best Swimmer eight times and 11 times American Swimmer of the Year.

The superhuman Michael holds a strong 38 world record in swimming in various categories.

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Michael Phelps | Quick Facts

Name Michael Phelps
Full Name
Michael Fred Phelps II
Nickname Flying Fish
Mr. Swimming
The Baltimore Bullet
Superman
Goat – Greatest of All Time
Age 37 Years Old
Date of Birth June 30, 1985
Gender Male
Place of Birth Baltimore, Maryland, United States
Nationality American
Profession Former Professional Swimmer
Zodiac Sign Cancer
Religion Christian
Race/Ethnicity Mixed
Residence Arizona
Height 193 cm, 6 ft 4 in
Weight 88 kg
Hair Color Brown
Eye Color Hazel
Build Athletic
Social Media  Instagram, Twitter, Youtube, Facebook
Sexual Orientation Straight
Father Michael Fred Phelps
Mother Deborah Sue “Debbie” Phelps
Siblings Whitney Phelps
Hilary Phelps
Marital Status Married
Children Boomer Robert Phelps, Maverick Nicolas Phelps, and Beckett Richard Phelps
Wife Nicole Johnson
Education Rodgers Forge Elementary
Dumbarton Middle School
Towson High School
Hobby Golfing
Club North Baltimore Aquatic Club
Coach Bob Bowman
World Records 39 (29 individual, ten relays)
Club North Baltimore Aquatic Club
Strokes Individual Medley, Butterfly, Freestyle Backstroke
Awards Eight times World Swimmer of the year
23 Olympics Gold Medal
Eleven Times World American Swimmer of the year
Endorsement  Aqua Sphere
Omega Watches
Krave
Master Spas
Speedo
Under Armour
Career Started 2000
Retired 2016
Current Team Retired
Net Worth $80 million
Merch Autographed Baseball, Goggles, Sports Illustrated
Last Updated October 2022

Michael Phelps | Net Worth and Income

The former world record holder in swimming for America, Michael Phelps’s net worth is a whopping $80 million.

To begin with, he earns an enormous amount, around $9 million annually.

Meanwhile, in 2012, Michael earned a hefty $12 million from various brand deals and endorsements.

Michael Phelps
Michael Phelps (Source: The Guardian)

Likewise, Phelps made around $2 million annually from his professional swimming career in his active days.

Not many know this but a player who wins medals in the Olympics also wins prize money. Winning gold can earn you $37,500 in prize money.

Phelps has won a total of 28 Olympic medals which amounts to $1.42 million.

Net Worth of Michael Phelps in Different Currencies

Let’s glance at Michael Phelps’s net worth in various types of currencies like the cryptocurrency BitCoin.

Currency Net Worth
Euro € 70.3 million
Pound Sterling £ 59.9 million
Australian Dollar A$ 111.8 million
Canadian Dollar C$ 102.1 million
Indian Rupee ₹ 6 billion
BitCoin ฿ 1374

Michael Phelps | Cars, Houses, and Watches

Cars

The most decorated Olympian swimmer Michael Phelps’s net worth is a staggering $80 million.

With such burgeoning net worth, it is no surprise that Phelps has a fleet of super-expensive cars in his garage.

To begin with, he has spent more than a million on his super luxurious and stylish cars. To start with, Michael owns a super modern BMW 760 Li that costs around $171,000.

The former swimmer Phelps with his car
The Former Swimmer Phelps With his Car (Source: Barrett-Jackson)

Likewise, Phelps owns premium SUVs, Range Rover, Cadillac Escalade, which cost around $92,000 and $73,000 respectively.

Moreover, the star swimmer has one of the most prized luxury cars Mercedes Benz SL63 that has a price of around $152,000.

Houses

One of the most outstanding athletes in Olympic history, Michael Phelps, lives in Scottsdale, Arizona.

He spent around $2.5 million to buy a beautiful property with a house spanning over 6,060 square feet.

Michael Phelps beautiful house
Michael Phelps Beautiful House (Source: Pinterest)

Meanwhile, the house boasts a five-bedroom (one master bedroom), fireplaces, swimming pool, and lots of greenery around.

Watches

The former swimmer is fond of wearing watches and loves to flaunt them. Meanwhile, Phelps wears a super stylish series from Omega watch, which costs around $8,500.

Likewise, he wears a wristwatch called Seamaster Planet Ocean 600M.

Moreover, Phelps has a love for Swiss timepieces as he wears Tag Heuer Correra, which costs around $220,000.

Lastly, he also owns a Rolex watch that costs around $30,000.

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Michael Phelps | Media, Investments, Endorsements, and Books

Media

There is no need to describe Michael Phelps to people around the world. He has achieved so much in his illustrious career.

Despite his stellar career in sports, he has made a name in media and has featured as an actor in various projects.

To begin with, Michael has featured as an actor in a TV series such as Suits, and Entourage. In addition, he has acted in a music video called The Lonely Island: Space Olympics.

Besides, Phelps has featured in many TV commercials and interviews.

Investments

Post-retirement, Phelps initiated to invest in a few projects related to the software. However, he is new in the investment sector, so he will need time to establish himself before making millions out of it.

Endorsements

Phelps, undoubtedly being an elite sports personality in the world, easily tempt the global brands for endorsements.

Over the years he has had an endorsement deal with Wheatley, Speedo, Subway, Louis Vuitton, Omega, Master spas, Sol Republica, and Sphere.

From brand endorsements alone Phelps has made an astounding $75 million.

Additionally, Phelps bagged an astonishing figure of around $5 million a year from Under Armor.

Besides, he also received around $1 million from Speedo for breaking the Mark Splitz record in Olympics.

However, the kind-hearted swimmer donated all money to charity.

Book Publications

In 2014 Michael published a book “Beneath the Surface” that he co-authored with Brian Cazeneuve

Likewise, in 2009, a book named Train with a T. Rex Won Eight Gold Medals was published by author Alan Abrahamson and Michael Phelps himself.

Michael Phelps | Vacations and Lifestyle

Lifestyle

Phelps lives a very lavish lifestyle with an excellent net worth of $80 million. He spends a handsome amount on cars, houses, and vacations.

However, it has not always been happy times for the Olympic gold medalist as he struggled with ADHD and depression and once contemplated suicide.

Michael Phelps With His Family
Michael Phelps With His Family (Source: WsTale)

Moreover, Phelps married a former Miss California USA Nicole Johnson on June 13, 2016.

Meanwhile, he wears branded clothes, designer suits, and super expensive watches.

Vacations

Michael Phelps has visited different parts of the world because of his professional career.

Above all, Michael loves spending time with his family and beloved ones on vacations. As per reports, his go-to places include Bali, Maldives, Greece, Italy, and many more.

Meanwhile, in 2019, the star swimmer was in the Maldives with his family.

Moreover, he enjoyed playing volleyball, sunbathing, and, most importantly spending quality time with his family.

Michael Phelps | Charity

With such a colossal net worth of $80 million, Michael does not hesitate to donate a few pennies to charities.

Meanwhile, he has a foundation called ‘Michael Phelps Foundation” which helps people to focus on swimming and to promote a healthy life.

Besides his foundation, Phelps has supported multiple charities and raised funds for the Boys and Girls Club of America, the Make a Wish Foundation, and many more.

Additionally, Michael donated around $1 million prize money to charity.

Michael Phelps | Career

He had a very successful and illustrious career which started at the age of 15 after competing in the 2000 Sydney Olympics.

However, the real success came from 2001 onwards when Phelps made a world record in the 200m butterfly event at World Aquatic Championships.

Likewise, in 2003, he won a total of four gold medals, two silver medals and broke five world records at that championship.

Above all, he won eight gold medals at the 2008 Beijing Olympics and broke the record of seven gold medals by Mark Splitz at a single Olympic.

Additionally, Phelps won four gold medals at the 2012 London Olympics followed by five more golds in the Rio Olympics.

Interesting Facts About Michael Phelps

  • Michael Phelps did not swim for the University of Michigan as he already had an endorsement deal as a professional swimmer.
  • He made some insane records in swimming during his professional career and held around 26 Guinness World Records.

FAQs

Why did Michael Phelps retire?

The prolific swimmer had to retire from swimming because of his issues with alcohol.

Does Michael Phelps still hold any world record?

Yes, he still holds the record for Most Individual Gold Won in the Olympics that is 23.

Is Michael Phelps the richest swimmer in the world?

Yes, he is the wealthiest swimmer in the world.

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