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Michael Phelps is a former American Olympic swimmer which has an estimated net worth of $55 million.
Michael Phelps started his aspiration to be a swimmer when he was seven years old. He was trained at North Baltimore Aquatic Club under his coach, Bob Bowman. At the age of 15, he qualified to join the U.S. Olympic Swimming team during the 2000 Summer Olympics in Sydney, Australia.
During his career as a swimmer, he got 18 Olympic medals, and 39 world records in which he achieved in competing at the Olympics and international swim meets.
He was recognized by several organizations such as FINA’s swimmer of the year in 2010-2012 and Sports Illustrated Sportsman of the Year in 2008.
Michael Fred Phelps II was born on June 30, 1985 in Towson, Maryland. Aside from being a swimmer, he focused helping other people on his own foundation, Michael Phelps Foundation.
Earnings & Financial Data
|
Date |
Category |
Description |
Amount |
|---|---|---|---|
|
2012 |
Sponsorship |
Maximum annual earnings estimated from endorsements alone which include Louis Vuitton, Visa, Under Armour, Procter & Gamble, Omega, Hilton, Subway, and HP |
$12,000,000 |
|
2012 |
Asset |
The value of Phelp's house which he put in the market for sale for $1.5 million |
$1,500,000 |
|
2011 |
Salary |
Amount earned from coveting 18 gold Olympic medals; The United States Olympic Committee pays medal bonuses of $25,000 for gold, $15,000 for silver and $10,000 for bronze |
$450,000 |
|
2011 |
Salary |
Amount earned from coveting 2 bronze Olympic medals; The United States Olympic Committee pays medal bonuses of $25,000 for gold, $15,000 for silver and $10,000 for bronze |
$20,000 |
|
2011 |
Salary |
Amount earned from coveting 2 silver Olympic medals; The United States Olympic Committee pays medal bonuses of $25,000 for gold, $15,000 for silver and $10,000 for bronze |
$30,000 |
|
2008 |
Sponsorship |
Estimated maximum earnings from endorsements alone after the 2008 Olympics |
$7,000,000 |
|
2007 |
Sponsorship |
Endorsement earnings from brands like AT&T, Powerbar Omega and Speedo |
$5,000,000 |
|
2007 |
Bonus |
Speedo Bonus received at the 2008 Olympics |
$1,000,000 |
|
2007 |
Sponsorship |
Amount earned from appearing in a party where he swam for several laps |
$100,000 |
|
2006 |
Asset |
The value of Phelps' Baltimore condo |
$1,690,000 |