Sports, US

How rich is Michael Phelps?

Name: Michael Fred Phelps II

Born: June 30, 1985

Occupation: Athlete

Michael Phelps, fair use
Michael Phelps, fair use

Michael Phelps was born in Baltimore, Maryland on June 30, 1985. He is the son of Michael Fred Phelps, a retired Maryland State Trooper and former athlete, and Deborah Sue Phelps, a middle school principal. They were divorced in 2000. He has two siblings: Whitney and Hilary. Michael comes from English, German, Irish, Scottish and Welsh descent.

Raised in the neighborhood of Rodgers Forge, Michael attended Rodgers Forge Elementary, Dumbarton Middle School and Towson High School. He would graduate in 2003. Michael learned to swim at the age of seven and would join the North Baltimore Aquatic Club.

He has been romantically linked to Stephanie Rice, Caroline Pal, Maria Ho, Carrie Prejean, Megan Rossee and Win McMurray. In February 2015, Michael became engaged to Miss California USA Nicole Johnson. They have one child together: Boomer Robert Phelps. The family presently resides in the state of Arizona.

Michael would gain his first taste of the Olympics in 2000, when he become the youngest man to make the U.S. Olympic swim team. He would make the finals and finish fifth in the 200-meter butterfly. For the next three years, he would participate in the Pan Pacific and world championship swimming competitions, where he would achieve success.

In 2004, Michael would win six gold medals and two bronze medals during the Athens Olympics. Four years later, in the Beijing Olympics, Michael would set an all-time record by winning eight gold medals. In the 2012 London Olympics, Michael would do very well again but only record four gold medals and two silver medals. During the 2016 Rio De Janeiro Olympics, Michael would earn five gold medals and one silver medal.

Although there were allegations that he had taken performance-enhancing drugs (PEDs), he was tested nine times in 2008 and passed all nine tests.

Michael has had several controversies in his career with alcohol and drugs. In 2004 and 2015, he was arrested for driving under the influence of alcohol. In 2009, a photo of Michael using a bong surfaced. This cost him a Kellogg Company sponsorship deal. He has apologized profusely for all three incidents.

With a $1 million bonus he received from Speedo, Michael launched the Michael Phelps Foundation, which promotes swimming and healthier lifestyles.

He has been awarded the Sports Illustrated Sportsman of the Year: 2008; Associated Press Athlete of the Year: 2008, 2012; and Swimming World World Swimmer of the Year Award: 2003, 2004, 2006, 2007, 2008, 2009, 2012.

We estimate that Michael Phelps’s net worth is $55 million (2016).

So how much is $55 million really?

$55 million could help you purchase several Olympic-size swimming pools on your property (if you have the space). $55 million can also help pay just to bid for the Summer Olympics to come to your city.

 

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