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Tan Jou Teng

US swimmer Michael Phelps is the most decorated Olympian to date with a total of 28 medals under his belt ‒ 23 of them being gold. As of 2021, Celebrity Net Worth put his worth at US$80 million. While most of these earnings come from endorsements and sponsorship deals, he has also made money as an author and for his appearances on screen. Keep reading to find out how Phelps has earned his fortune.
His medals

Phelps took part in a total of five Olympics, making his debut at the Sydney Games in 2000 with his last the Rio Olympics in 2016.
According to The Street, his annual salary varied from year to year, but at the end of his career he was earning about US$9.3 million annually.
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Endorsements and sponsorships

Phelps made many endorsement deals with brands, with some big names including Visa, Kellogg’s, Colgate, Omega and Subway.
In 2008, Phelps earned a US$1 million bonus from Speedo after taking home eight gold medals from the Beijing Olympics. The brand had been his sponsor since 2001. According to an article by LA Times, Phelps’ contract with Speedo ended in 2013.
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Another of Phelp’s huge sponsors is Under Armour. Although the exact size of the deal has not been disclosed, a report by The Street suggests that Phelps earned US$5 million from the endorsement.
Venturing outside his niche, Phelps also made an appearance in luxury brand Louis Vuitton’s core campaign Beyond The Limits in 2012.

According to a report by The Street, it is estimated that Phelps has earned at least US$75 million thanks to the sponsorship and advertising deals he took on over the years.
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The Michael Phelps Foundation

Phelps is a generous man when it comes to giving back to society. He established The Michael Phelps Foundation in 2008 with the aim to promote healthy lives, especially for children, through the sport of swimming. It was revealed by MTV that he donated the US$1 million cash bonus received from Speedo to the foundation.
On top of this, Phelps has also contributed to charity events, including being the global ambassador for Colgate’s “Save Water” campaign that started in 2016. One of their targets was to reach the 42 per cent of Americans who, in 2017, admitted to keeping the tap running as they brush their teeth.
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Properties

Doing it big!

Michael Phelps to live in Arizona home worth $2.53 million after retirementhttps://t.co/k1MyNBAZ4t pic.twitter.com/qLrMQZ1V7s
— Bleacher Report (@BleacherReport) August 23, 2016

In 2018, Phelps resold a home he had bought in Paradise Valley, Arizona, in 2015, for an estimated profit of US$1 million according to The Street. He replaced it with another property in Paradise Valley. It was also reported that he had sold a Baltimore town house for US$916,000 in 2016.
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Books

Among Phelps’ other roles, he is a published author, having written two bestselling autobiographies and a children’s book.
On-screen appearances

Another way Phelps has supplemented his fortune was through TV appearances. In 2013, he was invited to join a competitive golfing show, The Haney Project. He also guest-starred as himself in an episode of the popular drama Suits, of which he is an avid fan.


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Michael Phelps’ net worth: how the Olympic swimmer made his millions, from his Suits appearance and gold medals to endorsements and properties

US former swimmer Michael Phelps is the world’s most decorated Olympian – but how has he made his millions? Photo: @m_phelps00/Instagram

Michael Phelps of the US celebrates with the gold medal for the men’s 200m individual medley at the 2016 Rio Olympic Games in August 2016. Photo: Xinhua

Olympic gold medallist swimmer Michael Phelps at an Omega event held during the London Olympics in 2012. Photo: Handout

US swimmer Michael Phelps shows strength training techniques at the headquarters of Under Armour in Baltimore, Maryland, in March 2016. Photo: Xinhua

US swimmer Michael Phelps. Photo: @omega/Instagram

Michael Phelps talking about his foundation. Photo: @paolopescatore/Twitter

US swimmer Michael Phelps poses with his book No Limits: The Will To Succeed at a bookstore in Los Angeles, in December 2008. Photo: AFP Photo

Michael Phelps in Suits. Photo: @SuitsPeacock/Twitter

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Tina Graudina of Latvia in action with Heather Bansley of Canada during the women’s beach volleyball quarter final at Shiokaze Park, Tokyo, Japan during the Tokyo 2020 Olympics on August 3, 2021. Photo: Reuters

Yeo Seojeong of South Korea in action on the vault at the Ariake Gymnastics Centre, Tokyo, Japan, during the Tokyo 2020 Olympics on August 1, 2021. Photo: Reuters

Fiorella Corimberto (R) of Argentina shoots during the women’s beach handball preliminary round match between Argentina and Hong Kong at the 2018 Summer Youth Olympic Games in Buenos Aires, Argentina in October 2018. Photo: Xinhua

April Ross and Alix Klineman of the United States celebrate winning their match against Germany during the Tokyo 2020 Olympics at Shiokaze Park, Tokyo, Japan, on August 3, 2021. Photo: Reuters

Pauline Schaefer-Betz of Germany performs her floor exercise routine during the women’s artistic gymnastic qualifications at the 2020 Summer Olympics in Tokyo, Japan, on 25 July, 2021. Photo: AP Photo

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BTS’ recent single Butter made a surprise appearance at the Tokyo 2020 Olympics, much to the excitement of K-pop fans the world over. Photo: Handout

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Gold medal winners South Korea’s An San, right, and South Korea’s Kim Je-deok, celebrate during their mixed team final competition against Netherlands at the 2020 Summer Olympics, on July 24, in Tokyo, Japan. Photo: AP Photo

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Song Hye-kyo. Photo: @kyo1122/Instagram

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The world’s most decorated Olympian with 28 medals, Phelps swam at five Games, debuting at the Sydney Olympics in 2000 with his last at Rio in 2016
Louis Vuitton, Visa, Colgate, Omega and Under Armour are among his sponsors, while Speedo gave him a US$1 million bonus after the Beijing Games



The former Olympic swimmer had a glittering career, which saw him earn millions from endorsements – but he also made money from TV appearances, book sales and properties
