Michael Phelps is a renowned name in the world of swimming and why wouldn’t he be as he is not just a great swimmer but also the most successful Olympian. He is one of the richest athletes of 2016’s Summer Olympics. Among his 28 Olympic medals, 23 of them are gold, 3 are silver and 2 are bronze. You might be unaware that gold medalists receive $25,000 for each gold they win, $15,000 for silver and $10,000 for bronze.
Well, here, we are going to find out all about his career and the financial aspect of his life his salary, annual earnings, and net worth. Let's find out how rich the Olympic champion actually is.
His net worth is as huge as $55 million and his annual income is also very high. A huge credit of his earning goes to endorsements of high-level brands such as Visa and Under Armour making him earn $94 million.
Image: Michael Phelps
Source: The Sun
He also owns his own swimming brand MP.
Phelps’ jaw-dropping net worth is not inherited, he has worked very hard for it. He took part in the Olympics at a young age of 15, but he only became famous after the 2004 Olympics Games that took place in Athens, Greece.
During the 2004’s game, Phelps won 8 medals among which 6 were gold. Phelps’ journey of success began from there. During the 2008’s Beijing Olympics Games, Phelps set the record of winning the most gold at a single Olympics as he won 8 gold medals.
During the 2012’s London Olympics Games Phelps brought home 22 medals of which 4 were golds. Finally, in 2016’s Rio De Janeiro Olympic Games Phelps bagged five gold and one silver.
That is indeed a praiseworthy achievement.
However, the path wasn’t easy for Phelps as he struggled a lot to train himself physically and mentally. Phelps reveals that he trained himself visually.
Video: Michael Phelps 200m butterfly world record
He says that his coach taught him to broaden his mind and believe that there’s nothing he can’t do. Phelps has always been straightforward about his goals and he never trash-talks, unlike some athletes.
Even though Phelps faced the darkest day in his life, he learned to overcome it. When asked, he says:
"I think I've seen the darkest of the dark, and there are days when I didn't want to be here. But being able to come out of the other side, and just to work and learn things about me that I never knew or I didn't want to know at that point, I think it changed my life."
Image: Michael Phelps
Source: NBC news
We must all accept that Phelps deserves each penny of his enormous $55 net worth. His career has been amazing and more inspiring is his struggle. That’s why Phelps can be counted as one of the greatest swimmers of all times.
Also Read- Michael Phelps and his married life.