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Michael Phelps Net Worth (2022 Update)

Being one of the most successful swimmers in history at such a young age is quite an accomplishment.

Despite retiring from the sport, he built a reputation for himself.

Let’s learn more about Michael Phelps’ way to success and his net worth this 2022.

Michael Phelps Net Worth 2022 Phelps Won

But How Did He Make His Money?

The one thing that’s well-known about ultra-high net worth individuals (UHNWs) – the folks worth at least $30 million USD – is that virtually ALL of them have some part of their fortune in real estate. Many of the more famous rich people and “celebrity entrepreneurs” actually got their start in real estate. And that’s great for them! Not so much for us…

See, more millionaires are created during recessions than any other part of the economic cycle. Which is cool, except the last real recession was 2008, when real estate prices were in the tank and you could buy a whole neighborhood with $100,000.

Now, though, real estate prices are through the roof, and interest rates are skyrocketing too. So how does the everyday person start building a massive net worth in an economy like this one? Have you considered Digital Real Estate?

The internet’s been around for decades, but the possibility of actually owning high-value pieces of property ON the internet is fairly new. In other words, it’s a wide-open playing field…but it won’t stay that way forever. Here’s a quick summary of how Digital Real Estate works:

You invest a little money (maybe around $100) to either purchase or build a piece of “land” on the internet. You specifically place this “land” in a high-traffic area, where lots of people pass through (just like traditional real estate, it’s all about Location, Location, Location).

The folks who pass through your “land” all happen to be looking for a specific product or service, so you “rent” your land to a business owner who happens to offer that product or service. The business owner pays you $500 to $2,000 a month to “rent” your Digital Real Estate, because it helps them connect with their ideal customers.

Think of it like buying a strip mall, or an office space, just on the internet, for WAAAAYYY less money and headache.

Still Getting Paid

If you’d like to learn more about Digital Real Estate, attend this free live training session from ScamRisk’s #1 recommended trainer.
But for now, let’s dig in a little more about Michael Phelps net worth…

Net Worth:

$100 million

Age:

36 years old

Born:

June 30, 1985

Country of Origin:

Baltimore, Maryland, United States

Source of Wealth

Professional Swimming and endorsements

Last Updated

2022

Michael Phelps is a former American Olympic gold medalist and a business ambassador of many products. He is the most decorated Olympian in history, with a total of 28 medals (23 of them gold). He is widely regarded as one of the best swimmers in history.

early Life

Michael Fred Phelps II was born on June 30th, 1985 in Baltimore, Maryland. Deborah, a middle school principal, and Michael Fred Phelps, a former state policeman, have three children, Michael being the youngest. His parents separated when he was nine, and his father remarried in 2000.

He went to elementary school at Rodgers Forge, middle school at Dumbarton, and high school at Towson. When Phelps was only 7 years old, he began swimming as a way to stay active. In large part, this was due to the influence of his sisters and the need to give him with a means of releasing his energy.  According to him, he was fascinated with Tom Dolan from the 1996 Summer Olympics.

Phelps was diagnosed with ADHD when he was only six years old. In spite of this limitation, he went on to become a world-renowned athlete. By the time he was 10, he had set a national record in the 100-meter butterfly and started training with coach Bob Bowman at the North Baltimore Aquatic Club.

He also achieved a National Record at the age of 15 and went on to set an Olympic record in the event. He also took part in the Summer Olympics in 2000 at this time.

It was on June 13th of this year when Michael tied the knot with former Miss California USA Nicole Johnson. It was four months before the public learned about their marriage, since it was a tightly-kept secret. Boomer Robert Phelps, Beckett Richard Phelps, and Maverick Nicolas Phelps (b. 2019) are their three sons. Phelps presently serves as an assistant coach with the Arizona State Sun Devils, alongside Bowman, his previous head coach at the university.

Career

As soon as he started swimming at the age of seven, adults began to notice his skill. When he was only 15 years old, he tried out for the U.S. Summer Olympic Team and was accepted. Despite not winning a medal at the Games in Sydney, Michael Phelps placed fifth in the 200-meter butterfly finals.

At the World Aquatics Championship Trials in 2001, Michael Phelps broke the 200-meter butterfly world record. It was that day that he became the youngest male swimmer in the world to break a world record.

Phelps finished with four golds, two silvers, and five world records in the 2003 World Aquatics Championships. Additionally, Phelps also holds the all-time records for Olympic gold medals, Olympic gold medals in individual events, and Olympic medals in individual events.

Phelps beat Mark Spitz’s 1972 record of seven gold medals at a single Olympic Games by earning eight gold medals at the 2008 Beijing Games. His 100-meter butterfly speed of 5.5 miles per hour set a new world record in 2009.

He won four gold medals and two silver medals in the 2012 Summer Olympics in London, England. Despite teasing retirement after the London Olympics, Phelps continued to participate in the Mesa Grand Prix in 2014 as the rest of the world wondered whether or not he would swim in the 2016 Olympics.

For the 2016 Olympics in Rio, he came out of retirement completely and became the first American male swimmer to be selected to compete on five Olympic teams. In that year, he won five gold medals and one silver medal, respectively.

Phelps declared his retirement on August 12, 2016, despite expectations that he will compete in the 2020 Olympic Games. He now holds the record for the most medals won by an Olympic athlete.  He has set 39 world records, the most of all time.

Overall, Phelps makes more money through sponsorship and endorsement partnerships than from a swimming career. Since Phelps is one of the world’s most recognizable athletes, any company would like to endorse their product through him. Expecting that their market worth, perceived value, and brand value would all rise.

After Phelps won his eighth Olympic gold medal in 2008, he allegedly collected a $1 million bonus from then-sponsor Speedo. He contributed the money toward the Michael Phelps Foundation, which provides water-safety courses and swim training,

Success Clues Of Michael Phelps

Dream big

Setting a goal and working toward it helps you discover your strengths and weaknesses in order to reach your ultimate goal. You’re equipped to deal with everything life throws at you.

Do your best

If you do your best or try your best to do something, you try as hard as you can to do it, or do it as well as you can. Whatever you plant now, you will harvest later.

Featured Michael's Best Quotes Quotes

Michael Phelps Net Worth Beijing Olympics
"You can't put a limit on anything. The more you dream, the farther you get."
Michael Phelps Net Worth Towson High School
"I think goals should never be easy, they should force you to work, even if they are uncomfortable at the time."
Michael Phelps Net Worth Towson High School
"Swimming is normal for me. I'm relaxed. I'm comfortable, and I know my surroundings. It's my home."

Summary

He is one of the most highly paid athletes in history. Michael Phelps made the U.S. Olympic team for the 2000 Summer Olympics when he was only 15 years old. It was the first time in 68 years that someone under the age of 30 has qualified for the Olympic Swim team. He is now retired, yet he will forever be remembered as the greatest Olympian of all time because of his achievements.

He earned $100 million dollars over the course of his career.

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