Michael Phelps net worth is $55 million
Quick facts about Michael Phelps
Date of birth: June 30, 1985
Place of birth: Towson, Maryland, U.S.
Michael Phelps is an Olympic gold medalist in swimming with 22 Olympic Gold Medals in his list of accomplishments. The most Olympic Gold Medals given to one person in history, he holds more titles than any other athlete in recorded history. Said to be considering coming out of retirement, there is discussion that he may be reentering the arena this year. Born, Michael Fred Phelps on June 30, 1985, Towson Maryland, he had an ordinary childhood spare the hours and hours dedicated to the swimming pool. His mother was a middle school principal and his father, a Maryland state Trooper. He comes from a middle-class upbringing.
Beginning swimming at the age of seven to curb his ADHD by giving him an outlet for his high intense energy, by the age of 10, it was apparent that it was more than just a hobby. By the age of 15, he became the youngest male to be considered for the summer Olympics in more than 68 years. With a myriad of record-breaking trials and world records in his wake, he was the one to watch for the Olympics.
Being one of the wealthiest Olympiads of all time, he has earned more than $10 million a year and said to have a net worth of over $50 million. The endorsements he holds are Under Armour, Louis Vuitton, Omega, Hilton, Subway, HP, Proctor & Gamble, and Visa just to name a few. The golden child of swimming, he not only was a star in the pool, but outside of it as well. A teen hero, his fresh face was plastered everywhere. Everyone wanted to know more about what made this Ironman achieve such amazing things. What goes up must come down, and in the months after his Olympic feats, his squeaky clean image began to tarnish.
At the age of 19, he was arrested for a DUI in Maryland and was given probation and fined $250. As part of his punishment, he was court-ordered to speak to high school students about the dangers of drinking and driving and to attend a Mother Against Drunk Drivers meeting. Due to his All American image, fans were shocked when a video of him is allegedly smoking marijuana made its way onto YouTube, and huge controversy erupted. At the time, he had an endorsement from Kellogg, but due to all the bad publicity they pulled the endorsement and there was fear that others would follow suit. He was received a three-month suspension from the USA swimming federation.
In 2014, he was arrested again for yet another DUI. That led to a suspension that lasted for six months of competitive swimming. What America loves most is a repentant star, and when he went onto television to admit fault and apologize to his young fans, his fans were all but willing to wipe the slate clean. Michael Phelps achieved the type of flash-pan fame that is hard for people to handle. Confusing the impervious nature of his swimming talents with that of him personally, America watched as the star that rose so quickly fell to the earth. He is determined to make it back to the top, and he very well may be capable of doing so.