What is Michael Phelps’ net worth
Michael Phelps is a name that needs no introduction. He is widely regarded as the greatest Olympian of all time, with a record-setting 23 gold medals and 28 overall medals to his name. But with such immense success comes a huge amount of wealth. In this article, we’ll dive deep into Michael Phelps net worth – how he earned it, how he spends it, and everything in between.
Early Life and Career
Michael Fred Phelps II was born on June 30, 1985, in Baltimore, Maryland. His father was a state trooper and his mother was a school principal. Phelps was diagnosed with attention deficit hyperactivity disorder (ADHD) when he was a child and he started swimming at the age of seven to manage his energy levels.
Phelps quickly realized that he had a natural talent for swimming, and his coaches started taking notice too. By the time he was 15, he had already qualified for the 2000 Olympic Games in Sydney, where he became the youngest male swimmer to represent the United States in 68 years.
Phelps became a household name in 2004, at the age of 19, when he won eight medals (six gold and two bronze) at the Athens Olympics. Four years later, at the Beijing Olympics, he won a record-breaking eight gold medals, breaking Mark Spitz’s 36-year-old record for the most gold medals in a single Olympiad. Phelps continued his domination at the 2012 London Olympics and the 2016 Rio Olympics, adding to his ever-growing medal haul.
Alongside his swimming career, Phelps has also had his fair share of personal struggles. In 2009, he was caught on camera smoking marijuana, which led to a suspension from USA Swimming and a public apology from Phelps. He later entered a six-week inpatient treatment program in 2014 after being arrested for driving under the influence.
In 2016, Phelps married his longtime girlfriend, Nicole Johnson, and they have three children together. Since retiring from swimming, Phelps has become an advocate for mental health awareness and has been vocal about his own struggles with depression and anxiety.
In addition to his advocacy work, Phelps has also continued to stay involved in the sport of swimming, serving as a commentator and analyst for major swimming events such as the Olympics and World Championships. Overall, he remains one of the most successful and influential athletes of all time, both in and out of the pool.
Michael Phelps, the legendary Olympic swimmer, has been involved in real estate investing and development for several years. Here are a few notable real estate transactions and projects associated with him:
- Scottsdale, Arizona Home: In 2015, Phelps purchased a 6,000 square foot home in Scottsdale, Arizona for $2.5 million. The home features five bedrooms, six bathrooms, a home theater, and a wine cellar.
- Paradise Valley, Arizona Mansion: In 2018, Phelps sold his Scottsdale home and purchased a new mansion in Paradise Valley, Arizona for $9.4 million. The 12,000 square foot home sits on 3 acres and includes six bedrooms, nine bathrooms, a guesthouse, a resort-style pool, and a basketball court.
- Baltimore, Maryland Development: Phelps has been involved in the development of a mixed-use project in Baltimore, Maryland. The project, known as the North Calvert Green development, will include affordable housing, retail space, and community amenities. Phelps is an investor in the project through his investment company, MP Strategies.
- Aqua Sphere: In addition to his personal real estate ventures, Phelps is also involved in the development of a line of swimming gear called Aqua Sphere. The company produces a range of products for swimmers, including goggles, swimwear, and training accessories.
Overall, Michael Phelps has been involved in a variety of real estate ventures, from personal home purchases to community development projects.
Earnings and Income Sources
So, how much is Michael Phelps worth? According to Celebrity Net Worth, Michael Phelps’ net worth is estimated to be around $80 Million. A huge chunk of this wealth comes from his swimming career – he earned a total of $1.4 million in prize money from various competitions throughout his career. He has also garnered millions through endorsement deals with brands like Under Armour, Visa, Omega, and Beats by Dre.
Phelps is also an entrepreneur with several successful business ventures. He started his own swimwear brand, MP, in 2014 and has since expanded it into a full-fledged swimming equipment and accessories company. In addition, he has invested in several tech startups, including mental health app Talkspace and fitness app Fiton.
How Michael Phelps Spends His Money
With a net worth of $80 Million, Michael Phelps can afford to live a comfortable life. However, unlike some other celebrities, Phelps isn’t known for his extravagant spending habits. He lives in a modest home in Arizona with his family and drives a Cadillac Escalade as his primary car.
Phelps is also known for his philanthropic efforts. Through his Michael Phelps Foundation, he aims to promote healthy and active lifestyles for children and families. He has donated millions to various charities and has also started his own scholarship program for swimmers.
In conclusion, Michael Phelps is not only a legendary Olympic athlete but also a savvy businessman who has built a substantial net worth through endorsements, investments, and other ventures. Despite his retirement from competitive swimming, his financial success continues to make him one of the wealthiest athletes in the world.
Frequently asked question about Michael Phelps’ Net Worth
Q: How many gold medals has Michael Phelps won?
A: Michael Phelps has won a record-setting 23 gold medals throughout his career.
Q: What is Michael Phelps’ net worth?
A: According to Celebrity Net Worth, Michael Phelps’ net worth is estimated to be around $80 Million.
Q: What kind of businesses has Michael Phelps invested in?
A: Michael Phelps has invested in several tech startups, including mental health app Talkspace and fitness app Fiton.
Q: How does Michael Phelps spend his money?
A: Michael Phelps is known for his philanthropic efforts and has donated millions to various charities. He also lives a modest lifestyle and isn’t known for his extravagant spending habits.
Q: What is Michael Phelps’ foundation?
A: The Michael Phelps Foundation aims to promote healthy and active lifestyles for children and families. Phelps has donated millions to various charities and has also started his own scholarship program for swimmers.
Q: How tall is Michael Phelps ?
Michael Phelps is 6 feet 4 inches (193 cm) tall.