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Michael Phelps Net Worth 2020


Facts of Michael Phelps Networth

Full NameMichael Phelps
First NameMichael
Last NamePhelps
Birth NameMichael Fred Phelps II
Birth CityBaltimore, Maryland
Birth CountryUnited States
Father NameFred Phelps
Father ProfessionFormer Maryland State Trooper
Mother NameDeborah Sue Davisson
Mother ProfessionSchool Principal
Gender IdentityMale
Sexual OrientationStraight
Marital StatusMarried
SpouseNicole Johnson
No Of Children2
AwardsSwimSwam Swammy Award
EducationTowson High School
Height193 cm
Weight88 kg
Networth$60 M
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Date of BirthJune 30,1985
Age35 years
Married DateJune 30,2016
Amount$60 million

Michael Phelps is worth around $60 million

Michael Phelps is an American celebrity and the most popular Olympian of all time. Over the years, he has accumulated an estimated net worth of $60 million according to Celebrity Net Worth. 

Michael Phelps wearing his Olympic medals
Michael Phelps wearing his Olympic medals

The American Olympian is retired swimmer who broke the previous record of fellow swimmer Mark Spitz of seven gold medal in Olympic by his eight wins at the 2008 Beijing Olympic Games. Moreover, in his career, he won a total of 28 medals Olympic Medals.

Olympic Career, World Record and Financial Accomplishments 

Michael Phelps started his career as swimmer at the age of ten, holding national record of his age group in 100-meter butterfly. In 2000 summer Olympic, he became the second youngest person to participate at the age of 15 from U.S.

During the world championship trials for the World Aquatic Championship, he broke the world record in 200-meter butterfly by becoming the youngest male to win the competition. 

Later, he broke his own record in 200-meter butterfly at the World Championships in Fukuoka, Japan.

Likewise, he set world records in various national and international competitions which are given below:

2004 Summer Olympic400 Meter Medley4:08:26
2004 Summer Olympic4*100 Meter Medley3:30:68
2007 World Championships200 Meter Butterfly1:54:98
2008 Summer Olympic200 Meter Freestyle1:42:96
2009 World Championships100 Meter Butterfly49:82

Earnings From Swimming Career

Swimming is his passion and is one of the important source of his wealth. He won a total of 82 medals in various international competitions. 

Michael Phelps during Rio Olympic 2016
Michael Phelps during Rio Olympic 2016

Moreover, the United States Olympic Committee gives the prize money of $25,000 for every Olympic gold medals. Likewise, silver medalists are given $15,000 and bronze one were awarded $10,000 during his time.

So, from all his achievement in Olympics, he earned a hefty amount of $1.9 million from swimming. Speedo awarded Michael with $1 million for tying the record of Mark Spitz.

Income From Endorsements

Gazette Review claimed, after the years of Beijing Olympic in 2008, Michael Phelps earned an annual income of $7 million from various endeavors like sponsorship and endorsements.

In addition, Phelps’ success did not stop and since 2012 London Olympics, his popularity soared as he won four gold medals and two silver medals. With the growing reputation, he collected annual wage of $12 million from sponsorship alone. 

Earnings From Real Estate

Michael Phelps’ 5,000 sq ft house in Baltimore’s Canton neighborhood was sold for $960,000 in July 2016. 

He purchased 6,000 sq ft house in Paradise Valley for $2.5 million. The house consists of five bedrooms, six and a half bathrooms, covering the property of nearly an acre. He sold the property for $3.5 million in 2018.

Charity Works 

Michael Phelps is a philanthropist and donated the reward given by Speedo, which is $1 million, to start Michael Phelps Foundation that offers services related to swimming and promoting healthier lifestyle.

Moreover, his organization, Michael Phelps Swim School and started an awareness program in national level. In 2017, he became the board member of Medibio that focuses on diagnosis of Mental Health disorders.

Tax Payments

Michael Phelps is a multi-millionaire with $60 million as of 2019, which is similar to James Taylor, Matt Lauer and Gwyneth Paltrow. With such income, he must pay a hefty amount of tax to the government. 

Although the details on his tax payment is unknown, a person with a net worth of $1 million is liable to pay $360,911 of Federal income tax including FICA to the government of Maryland.

Assets: House and Cars

Michael Phelps owns a 10,000 sq ft mansion in Phoenix suburb of Paradise Valley. The mansion consists of six bedrooms and eight bathrooms and including hot tub, sauna, barbeque area. 

Michael Phelps with his Mercedes Benz
Michael Phelps with his Mercedes Benz

In addition, Michel is fond of cars and collected quite a number of automobiles. 

He owns a Cadillac Escalade worth $75,195 which is a luxurious SUV. Similarly, he has Mercedes-Benz SL63 ($154,450), BMW 760Li ($156,700), and Range Rover.

Michael Phelps’ Biography

Michael Phelps was born as Michael Fred Phelps II on June 30, 1985, in Baltimore, Maryland, United States. He was born to retired Maryland State Trooper, Fred Phelps and Middle School principal Deborah Sue Davisson. As for siblings, he has two sisters; Hilary Phelps and Whitney Phelps

Phelps belongs to American nationality and is of mixed ethnicity. He is of English, Irish, Scottish, Welsh and German ancestry. His parents separated in 1994 which impacted him and his siblings. He suffered from attention deficit hyperactivity disorder.

As for academic qualifications, he studied at Rodger Forge Elementary School and later joined to Dumbarton Middle School. In 2003, he completed his high school course from Towson High School.

Personal Life: Relationships

Michael Phelps married former Miss California USA, Nicole Johnson. The couple secretly got married on June 13, 2016. There were many twists and turns in the relationship between the pair. 

Phelps and Johnson met at the ESPYs in 2007 and has been dating since then. The relationship between the couple did not last long and they broke up in 2012. 

However, they rekindled their relationship and got engaged in February 2015. After the four months of marriage in 2016, the marital relationship was made public. Nicole gave birth to two children; Boomer Robert Phelps and Beckett Richard Phelps. 

The family is now living a happy and prosperous life in Paradise Valley, Arizona.

Age & Height

Age: As of 2019, Michael Phelps reached the age of 34-year-old.

Height: He stands 6 feet 4 inches or 193 cm.

Updated On Fri Aug 23 2019 Published On Fri Aug 23 2019 By Greece