Being a celebrity always comes with an increase in fortune. As your popularity increases, your net worth also soars high and that’s why Michael Phelps net worth has been constantly going up. Standing at approximately $55 million, Phelps is mentioned among the riches athletes in the world.
Michael Phelps Net Worth & Salary
Phelps is an American swimmer who has won the Gold Olympic medal eighteen times for the United States of America. He is considered by friends, foes and competitors to be the best swimmer the world has ever had. Michael Phelps was born in the year 1985 on June 30th in Baltimore Maryland. He is one of those examples who prove that talent together with hard work pays. He first tried his luck and made it to the Summer Olympic Team in the year 2000 at the age of 15.
In 2008 Beijing Olympic, he was able to break the record set by Mark Spitz for winning the highest number of Gold Medals in a single Olympics games. He bagged 8 Gold medals while Spitz had won seven.
He has also been able to break thirty seven world swimming records and by the fact that he is still young and energetic to go, we still expect more to come out of him. It is believed by many that he has not yet even got to his best as far as his talent is evident. All these accolades are attributed to the Michael Phelps net worth.
How Michael Phelps Net Worth Keeps on Progressing
In his first two Olympic games, he was able to win seventeen medals that included six gold medals, two silver ones in Athens and then winning eight gold medals in Beijing. When he gets to his peak, Michael may be able to break more records noting that some are already being held by him. All these will come with more financial fortunes.
His success has brought other doors of improving on his financial base. Being the luckiest persons to get post Olympics careers in the whole of the American history, Michael has a sizeable number of sponsors. In addition, he appears in several commercials year round even during the non Olympic years. This is the reason why Michael Phelps net worth may be recorded to be $55 million today but far much more than after twelve months, at times even within just a month.
Michael Phelps Baltimore Townhouse
Michael Phelps has been a long time dweller of Maryland. He has had several condos within Baltimore city and his childhood can easily be traced in Towson’s Rodgers Forge neighborhood. Phelps purchased, in 2007, a waterfront Fells Point condo that covers 4080 square feet and having three bedrooms for $1.69 million.
After five years, he decided to put this condominium in the market and sold it for a loss. He was selling this condo as he wanted to buy and relocate to a modern loft styled townhouse that went for $1.1 million. This new space has got 6800 square feet of living space found on the two upper floors and 2800 square feet of his first floor garage space. This is also a waterfront property having a beautiful view from the balcony. The nights are specifically more incredible. He is also just steps away from corner bars, restaurants as well as nightlife spots.
Michael Phelps Baltimore Townhouse is a clear indication that Phelps hasn’t yet retired from Olympic swimming. As the Olympics are soon approaching, we are expecting more from him. The number of medals that he will obviously win will add to Michael Phelps net worth. In addition, the number of sponsors and commercials that will be revolving around him will make him even richer.
Michael Phelps Foundation
After coming from the 2008 Summer Olympics, Phelps established a foundation that was named after him. The Michael Phelps Foundation can partially be attributed to the success that followed in the 2012 Olympics. In the 2012 Olympics, he became the most decorated Olympic athlete of all time that moment when he won his fourth gold medal.
The foundation was majorly begun with the chief reason of promoting the swimming sport together with healthy lifestyle. The healthy lifestyle goal has been already felt while for the sport, it is anticipated that future American swimming athletes will come from this foundation.
All in all, Michael Phelps net worth is high in the ladder when athletes’ fortunes are compared with each other. As an active participant on field and off field alike, you expect to see his fortunes growing steadily. He has made enough wealth to make him live a comfortable life thereafter, all this credited for Olympic swimming.
The body statistics of Michael Phelps
Height: 6 ft. 4 inches
Weight: 200 Pounds
Shoe size: 14
Hair color: Black
Eye color: Black