Michael Phelps’s net worth, income and more: Michael Phelps is more than just a name in the world of sports; he's a true legend. Born on June 30, 1985, in Baltimore, Maryland, Phelps has made a mark on Olympic history with a staggering 28 medals, including a record-breaking 23 golds. His incredible achievements in swimming have set a new standard for excellence and dedication. From his early days in the pool to becoming the most decorated Olympian ever, Phelps’s journey is one of extraordinary talent and relentless hard work. His success not only defines his career but also inspires countless athletes around the globe. In this article let’s check out how rich Michael Phelps is:
Who is Michael Phelps?
Michael Phelps, born on June 30, 1985, in Baltimore, Maryland, is a retired American swimmer who has become a legend in the world of sports. His swimming career is celebrated for its impressive achievements and unmatched dominance in the pool.
Michael Phelps's Net Worth and Income
Michael Phelps’s success in swimming has translated into substantial financial achievements. According to GQ India, his net worth is estimated at around $100 million (Rs 837 crore), reflecting his status as one of the wealthiest athletes in the world. Phelps earned over $640,000 (Rs 5 crore) from the US Olympic Committee for his medals, based on standard prize amounts. Even after retiring, Phelps earns approximately $10 million (Rs 83 crore) annually from endorsem*nts with major brands like Omega, Subway, Visa, and Under Armour. His equity stake in Talkspace, valued between $1 billion and $3 billion, further boosts his financial standing.
Michael Phelps's career and medals
Former American swimmer Michael Phelps holds remarkable records. Known as one of the greatest athletes ever, Phelps has won 82 medals in major international swimming events. His collection includes 65 gold medals, 14 silver medals, and 3 bronze medals. At 39, he is the most decorated Olympian of all time. The second most decorated Olympian is former gymnast Larisa Latynina, with 18 Olympic medals.
Here is the detailed information about Michael's career:
- Phelps grew up in a swimming family and joined the North Baltimore Aquatic Club at age seven.
- At the 2000 Sydney Olympics, he finished fifth in the 200-meter butterfly.
- In 2001, at 15, Phelps became the youngest world record holder in the 200-meter butterfly.
- That year, he won his first international title at the world championships in Japan.
- In 2002, at the Pan Pacific Championships, he won five medals, including three golds in individual medley events and a relay.
- In 2003, Phelps became the first male swimmer to win titles in three different strokes at a U.S. national championship.
- He set five world records at the world championships in Spain that year.
- He won five titles at the 2003 U.S. Summer Nationals, the most ever by a male swimmer at one championship.
- At the 2004 Athens Olympics, Phelps won six gold medals and two bronze medals, setting five Olympic or world records.
- His four individual golds tied the record set by Mark Spitz in 1972.
- At the 2007 World Championships in Melbourne, Phelps won seven gold medals and set five world records, tying Spitz’s record for most wins at a major meet.
- At the 2008 Beijing Olympics, Phelps aimed to break Spitz’s record of seven gold medals in one Olympics.
- He won gold in the 400-meter IM, 4 × 100-meter freestyle relay, and 200-meter freestyle, all in world record time.
- On August 13, he won gold in the 200-meter butterfly and the 4 × 200-meter freestyle relay, setting a new Olympic record with his 10th and 11th career gold medals.
- He also won gold in the 200-meter IM and the 4 × 100-meter medley relay, setting world records in seven of his eight gold medal events.
- At the 2009 World Championships in Rome, Phelps won five golds and a silver.
- At the 2012 London Olympics, Phelps had a rough start but later won silver in two events and gold in two others.
- He won his 19th Olympic medal, breaking Larisa Latynina's record, and became the first male swimmer to win the same event three times in a row.
- He retired after London but returned to swimming in 2014, though he was suspended for six months due to a DUI charge.
- At the 2016 Rio de Janeiro Olympics, Phelps won four golds and one silver, carrying the American flag at the opening ceremony.
- His win in the 200-meter butterfly was highly anticipated due to his rivalry with Chad le Clos.
- Phelps retired again after Rio, ending his successful swimming career.
- His achievement of eight gold medals at the 2008 Beijing Olympics highlights his dominance in swimming.
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ABOUT THE AUTHOR
Bhupinder Singh is a Principal Executive in Content Management. He writes about historic events, art and culture for SEO. His interests include Artificial intelligence tools like Chatgpt, midjourney, and generative AI, along with an avid passion for cricket. In his free time, you will find him discussing MS Dhoni-Sachin Tendulkar and IPL.
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