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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
STORYTan Jou Teng
- 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
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
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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.
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.
