Michael Phelps’ Net Worth: 5 Fast Facts You Need to Know

Olympic professional athletes typically aren't paid for their engagement in the video games, solid efficiencies in the international limelight could commonly lead to financially rewarding sponsorship offers, and also company possibilities.

Michael Phelps is one of the most embellished Olympian of perpetuity as he completes in his last video games in Rio. The American swimmer currently has a document 25 medals. Twenty-one of them are gold. Below's exactly what you have to find out about Phelps' total assets, recommendations, as well as philanthropic structure.

1. He Has a Net Worth Estimated at $55 Million

Michael Phelps, Caeleb Dressel

Michael Phelps and also Caeleb Dressel of the United States commemorate winning gold in the Final of the Men's 4 x 100m Freestyle Relay on Day 2 of the Rio 2016 Olympic Games at the Olympic Aquatics Stadium. (Getty).

Phelps' 8 gold medals at the 2008 Summer Olympics released a range of recommendations. His total assets is approximated at $55 million, inning accordance with Celebrity Net Worth.

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2 He Has Several Lucrative Endorsement Deals.

Complying with the 2008 Olympics, Phelps supposedly made a $1 million reward off then-sponsor Speedo. Phelps developed the Michael Phelps Foundation keeping that perk. The structure intends to motivate youngsters to lead energetic as well as healthy and balanced lives via the sporting activity of swimming and also to advertise essential water safety and security abilities, inning accordance with its site. The structure mentions that it has actually assisted elevate over $60,000 for nonprofits that share its objective.

Phelps has actually authorized manage Speedo, Visa, Omega views, Subway, Kellog, Under Armour, Louis Vuitton, Procter & Gamble, Hilton resorts, HP, Powerbar, Head as well as Shoulders and also a number of smaller sized business.

Phelps is presently gaining an approximated $12 million a year in recommendation pay, inning accordance with Money Nation. FX News Call price quotes his sponsorship handle Under Armour alone to be worth $5 million.

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3. He Has Earned an Estimated $1.8 Million From Swimming Medals.

Michael Phelps, Michael Phelps Olympics, Michael Phelps Beijing.

Michael Phelps contends in the butterfly leg of the Men's 4 × 100 Medley Relay throughout the Beijing 2008 Olympic Games. (Getty).

American professional athletes winning medals at the Rio Olympic Games obtain a prize money from the United States Olympic Committee. The honors differ based upon the medal won. Those honors get on top of the real worth of a "gold" medal-- which is around $366 for the Rio video games. The gold medal is a combination of a percentage of 24-karat gold, some copper as well as a great deal of sterling silver, inning accordance with Time.

Phelps has actually made a number secured around $1.8 million because 2001 from swimming medals, inning accordance with Money Nation. That's comparable to a wage of $113,000 each year. That number is based upon $25,000 for every of the 18 Olympic gold medals Phelps has actually won, plus $15,000 for every of his 2 silvers as well as $10,000 for each and every of his 2 bronzes. That number will certainly rise by $75,000 as Phelps has actually won 3 gold medals since Tuesday evening in Rio.

The quote likewise considers the 37 gold medals, 11 silver medals and also one bronze he has actually won in different National, World and also Pan Pacific champions. While there are not precise numbers on the cash money honors for medals in those competitions, Money Nation used the Olympic payments for a price quote.

4. He Earned $200,000 During the 2008 Olympic Games.

Michael Phelps medals, Michael Phelps Olympics.

Phelps has actually won 8 medals at the 2004 Athens Olympics, 8 in Beijing in 2008 as well as 6 in London in 2012. (Getty).

The 2008 Beijing video games were monumentally effective for Phelps.

His 8 gold medals in the Beijing summertime video games gained him $200,000 from swimming medals. In 2012, he gained $130,000 in London with 4 gold, as well as 2 silver.

5. He Owns a 6,800-Square-Foot Home in Paradise Valley.

Phelps lately acquired a 6,800-square-foot house in the high end suburban area of Paradise Valley in Phoenix, Arizona, inning accordance with USA Today.

He lives there with his future husband Nicole Johnson, as well as their 3-month-old kid.

" Our yard looks right at Camelback Mountain," he informed USA Today. "You go outside in our yard and also we have orange as well as tangerine and also lemon and also lime as well as peach and also apple-- all these various fruit trees expanding in our yard.".

Phelps formerly had a Newport Beach Mansion in California. Information on the residential or commercial property are limited, it is thought to have actually set you back at the very least $8 million, according to Gazette Review.

Michael Phelps is the most embellished Olympian of all time as he contends in his last video games in Rio. Phelps developed the Michael Phelps Foundation with that benefit. Phelps has actually made a number fixed around $1.8 million given that 2001 from swimming medals, according to Money Nation. That number is based on $25,000 for each of the 18 Olympic gold medals Phelps has actually won, plus $15,000 for each of his 2 silvers and also $10,000 for each of his 2 bronzes. That number will certainly go up by $75,000 as Phelps has actually won 3 gold medals as of Tuesday evening in Rio.