Michael Phelps Net Worth:

$55 million

Source of Wealth: Professional Swimmer, Olympic Winner

Date of Birth: June 30th, 1985

Nationality: United States of America

Last Updated: December 2017

Introduction

Success is never built overnight.  However, it takes a lot of patience, courage, and of course hard work. Michael Phelps’ is one of those famous personalities, who developed himself into a champion swimmer with true dedication and hard work.

Michael had won several medals throughout his career. Last year, at the age of 31, he ended his Rio 2016 journey with a five gold and silver. Do you know the secret of his success? He swam every day, no matter if it is Christmas, his birthday or any other holiday. In the history of Olympics, he has set the record for winning the most medals and you may be shocked to know his “Net Worth” that made him one of the richest athletes.

Phelps’ is also known for his books, Beneath the Surface: My Story (2008) and No Limits: The Will to succeed (2009). He also co-founded the nonprofit organization – Swim with the Stars, which holds camps for swimmers of all ages.

If we talk about his net worth, as of December 2017, it is estimated to be around $55 million, The United States Olympic Committee awards medalists $25,000 for gold medals, $15,000 for silver and $10,000 for bronze. His swimming competitions have brought in about $1.9 million, Endorsement deals have brought in an estimated $94 million.

Early Life

Michael Phelps’ was born on June 30, 1985, in Baltimore, Maryland. His father, Michael Fred Phelps was employed as a state trooper, and her mother Deborah Sue was into the profession of teaching.  He is blessed with two elder sisters, Whitney and Hilary. He gained his education from Towson High School.

There is a very famous saying, “When you are planning a life, life has some other plans for you.  Who can even think that a 7-year-old boy, who scared of putting his face in the water, is going to set a record in the Olympics as a swimmer? Because of being scared of putting face in the water, he gets permission to float on his back, which results; backstroke being the first stroke that he mastered.

Career

He started his swimming career at the Loyola High School pool. Later, he started training at the North Baltimore Aquatic Club at the Meadowbrook Aquatic and Fitness Center, where he met his coach Bob Bowman.  7-year-old Phelps set five world records, immediately, after his graduating in the year 2003 from Towson.

He won the 200-meter individual medley at the World Championships in Barcelona, Spain, during the U.S. trials for the 2004 Summer Olympics; he broke his own world again in the 400-meter individual medley.

In the year 2006, in Pan Pacific Championships in Victoria, British Columbia, and in the year 2007, in World Championships in Melbourne, Australia he set a world record. On June 29, 2016, Phelps celebrated his victory when he became the first American male swimmer to earn a spot on five Olympic teams. In another emotional victory, he took gold again in his final Olympic race,

He ended his journey with the Rio Games by earning total of 28 medals — 23 gold, 3 silver and 2 bronze. Phelps’ also made history as the oldest individual gold medalist in Olympic swimming history.

Highlights

• In the year the 2000 – His first Olympics’ was held at Sydney at the age of 15. Where he did not win a medal but managed to the finals and finished fifth in the 200-meter butterfly.
• In the year 2004 – In the Athens Olympics, he won 6 gold medals and 2 bronze medals.
• In the Year 2008 – Beijing Olympics, he won 8 gold medals.
• In the Year 2012 – In the London Olympics, he won 4 gold medals and 2 silver medals.
• In the Year 2016 – In the Rio Olympics, he won 5 gold medals and 1 silver medal, taking his overall Olympics medal tally to 28, which includes 23 gold medals.
• He created the history of world records in swimming: 39 world records, surpassing Mark Spitz’s previous record of 33 world records.
• His magnificent ability at the sports won him the highest number of Olympic gold medals (23), the highest number of gold medals in individual games (13) and the only Olympian to win 8 gold medals in a single Olympic Games (2008 Beijing Olympics).

Success Lessons by Michael Phelps

1. Work hard to become successful

Like I said, that success is impossible to build overnight.  It takes a lot of hard work and dedication to become successful.  The secret of Marshal Success is his true dedication and loyalty towards his work. He never skips his practice, not even on his birthday or any other holiday. The word ‘rest’ is not in his dictionary. He is always very particular about his workout and diet.  He trains for up to 6 hours every day and consumes 12,000 calories of food to maintain peak physical ability.

2. Do What You are Good At

There is a very famous quote, “Make your hobby your profession and you will never work for a day in your life.”  He found his passion in the swimming. Swimming was his hobby since he was 7 years old, and when he realized that he is very got in swimming, he took it seriously and made a history in the Olympics. 

3. Never Give Up

Challenges and achievement are two sides of the same coin. In life, you will meet with both of them, but what makes you different from others is how you deal with the challenges and rise above them. In the initial stage of his career, he got arrested for driving under the influence and dealt with the negative publicity. In the year 2008, at the Beijing Olympics, his goggles started to leak in the middle of a race. Instead of losing confidence, he worked smartly and completed the race by counting how many strokes he was making. He won the race, though he was unable to see.

Michael Phelps Motivational Video

Best Motivational Quotes from Michael Phelps Quotes

“If you want to be the best, you have to do things other people aren’t willing to do.” – Michael Phelps

“You can’t put a limit on anything. The more you dream, the farther you get.” – Michael Phelps

“I think that everything is possible as long as you put your mind to it and you put the work and time into it. I think your mind really controls everything.” – Michael Phelps

“You have to have a dream so that you can get up in the morning.” – Michael Phelps

“There are always going to be obstacles that come in your way, STAY POSITIVE” – Michael Phelps

Over to You

There is no doubt about that Michael Phelps has been one of the most successful Olympian of all time with the net worth of $55 million.

What’s your thoughts on Michael Phelps’s Net Worth and huge success? Let us know.

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