Michael Phelps: The Legend Beyond The Pool

How Much Is Michael Phelps Worth Today?

Hey there, sports fans! Let’s talk about Michael Phelps, the man who redefined what it means to be the greatest swimmer of all time. Michael Phelps, a retired American Olympic swimmer and corporate endorser, boasts a staggering net worth of $100 million. Phelps is widely regarded as the greatest swimmer in history and one of the most successful Olympians ever. Over five Olympic Games from 2000 to 2016, he collected an astonishing 28 medals, 23 of which were gold. That’s more gold than most countries have won in a single Olympics!

Phelps started swimming at the tender age of seven, and it didn’t take long for everyone to realize this kid was destined for greatness. His Olympic debut came in 2000 when he was just 15 years old. Though he didn’t medal that time, he still managed to finish fifth in the 200-meter butterfly. Fast forward to the 2004 Athens Olympics, and Phelps made his big breakthrough, winning six gold and two bronze medals. But his crowning achievement came in 2008 at the Beijing Olympics, where he shattered records by winning eight gold medals in a single Games, surpassing Mark Spitz’s 1972 record of seven.

By the time the 2012 London Olympics rolled around, Phelps added another four gold and two silver medals to his collection. He briefly retired after that but made a triumphant return in 2014. In the 2016 Rio Olympics, Phelps capped off his legendary career by winning five gold medals and one silver. His final race was the 4×100-meter medley relay, where he helped the U.S. team secure gold. Throughout his career, Phelps set a jaw-dropping 39 world records, a number that might never be matched.

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Early Days: Growing Up in Maryland

Michael Phelps was born Michael Fred Phelps II on June 30, 1985, in Baltimore, Maryland. He’s the youngest of three kids born to Deborah, a middle school principal, and Michael Fred Phelps, a retired state trooper. His parents divorced when he was just nine years old, and his father remarried in 2000. Phelps has been open about the strained relationship with his father after the divorce. Despite the challenges, Phelps attended Towson High School just north of Baltimore and graduated in 2003.

Swimming to Greatness: Phelps' Career

Michael Phelps’ journey in swimming started at the age of seven, guided by a coach who quickly recognized his potential. By the time he was 15, he was already competing on the world stage, trying out for the U.S. Summer Olympic Team in 2000. Though he didn’t medal in Sydney, he made it to the finals and finished fifth in the 200-meter butterfly. That performance alone was enough to prove he was something special.

In 2001, Phelps became the youngest male swimmer in history to set a world record, doing so in the 200-meter butterfly. At the World Championships that same year, he not only broke his own record but also won his first international medal. After graduating high school, Phelps didn’t slow down. He set five new world records, attended the University of Michigan to study sports management and marketing, and continued to dominate at competitions like the Pan Pacific Championships and World Championships.

Phelps’ incredible performances at the 2004 Athens and 2008 Beijing Olympics solidified his place in history. In Beijing, he shattered Mark Spitz’s record by winning eight gold medals, a feat that left the world in awe. He continued his dominance in 2012 in London, where he added four more gold and two silver medals to his collection. After teasing retirement, Phelps returned in 2014, ultimately competing in the 2016 Rio Olympics. There, he became the first American male swimmer to earn a spot on five Olympic teams, taking home five gold and one silver medal. Phelps officially announced his retirement on August 12, 2016, leaving behind a legacy that will inspire swimmers for generations.

Building an Empire: Endorsements and Investments

Phelps’ success in the pool translated into a lucrative career off it. He’s one of the most well-known athletes in the world, and his endorsements have been a key part of his financial success. Brands like Subway, Visa, Speedo, PowerBar, Under Armour, and AT&T have all tapped into his star power. Phelps isn’t just a pitchman; he’s also an investor. He’s a stakeholder in Talkspace, a mental health startup that’s been valued at anywhere from $1 billion to $3 billion. It’s clear that Phelps has a knack for business as well as swimming.

Behind the Scenes: Phelps' Personal Life

Michael Phelps may be a global superstar, but away from the cameras, he’s a family man. Known for his independent and focused nature, Phelps often preferred solitude over socializing during the Olympics. His former coach described him as “unbelievably kind-hearted” when interacting with fans and young athletes. Phelps married Nicole Johnson, the former Miss California USA, in a secret ceremony on June 13, 2016. Their marriage wasn’t publicly announced until four months later. Together, they have four sons: Boomer Robert, Beckett Richard, Maverick Nicolas, and Nico Michael Phelps. The family resides in Paradise Valley, Arizona, where Phelps volunteers as an assistant coach for the Arizona State Sun Devils.

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Phelps has been candid about his struggles with depression and ADHD, even revealing that he contemplated suicide after the 2012 Olympics. He’s become a vocal advocate for mental health, joining the board of Medibio in 2017, which focuses on diagnosing mental health disorders. In 2008, Phelps established the Michael Phelps Foundation with a $1 million signing bonus from Speedo. The foundation promotes healthier lifestyles and co-founded Swim with the Stars, a nonprofit that offers camps for swimmers of all ages.

Bumps in the Road: Legal Issues

Even legends face challenges outside the pool. In November 2004, Phelps was arrested for driving under the influence in Salisbury, Maryland. He pleaded guilty, was fined $250, sentenced to probation, and ordered to speak to high school students about the dangers of drunk driving. In 2009, a photograph of him using a bong surfaced, costing him a sponsorship deal with Kellogg’s. He was arrested again in 2014 for DUI and speeding, leading to a six-month suspension from competitions. This suspension impacted the U.S. team’s performance at the 2015 World Aquatics Championships.

Home Sweet Home: Phelps' Real Estate Journey

Phelps has had a varied real estate journey. In 2007, he purchased a Baltimore condo for $1.69 million but had to sell it after the housing market crash, eventually settling for $1.25 million. He then moved into a townhouse in the Canton neighborhood, where he lived for four years before selling it for $960,000 in 2016. In December 2015, Phelps moved to Paradise Valley, Arizona, buying a home for $2.5 million. He later listed the property for $4.1 million and sold it for $3.5 million.