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Michael Phelps' net worth in 2022

Michael Phelps' net worth in 2022 is $100 million. Phelps is a retired Olympic swimmer and corporate endorser. He has won 28 Olympic medals, with 23 of them being gold. Not only is he the best Olympic swimmer of all time, but arguably also the winningest athlete in Olympic history. For this piece, let’s take a closer look at Michael Phelps’ net worth in 2022.

Michael Phelps' Net Worth in 2022 (Estimate): $100 million

Michael Phelps' net worth in 2022

Michael Phelps' net worth in 2022 is $100 million. This is according to reputable outlets such as Celebrity Net Worth

Michael Phelps was born in Baltimore, Maryland. He studied in Towson High School. After graduating high school, Phelps trained for the Summer Olympics. While doing so, he also attended University of Michigan and studied sports marketing and management. 

At only age 15, Phelps became the youngest athlete to make the U.S. Olympic team during that time. Although he failed to snag a medal, Phelps still managed to make finals and settled for fifth place. 

While Phelps’ debut didn’t result in medals, it was just the beginning of his dominance in the international swimming scene. Roughly a year later in the 2001 World Championships, Phelps would go on to break the world record for the 200-meter butterfly. In the process of breaking the record, Phelps also broke the world record for becoming the youngest male athlete to set a world record in swimming. 

In the said international tourney, Phelps would go on to shatter his previous world record to win the gold medal. In terms of World Championships alone, Phelps has a total tally of 34 medals including 27 being gold. His stint at the 2007 edition was arguably his best showing after breaking four individual records and winning seven gold medals.
Aside from dominating the World Championships, Phelps also reigned over the Pan Pacific Championships. As of this writing, Phelps has collected 21 medals since he joined the games in 2002. Among the 21, 16 of them were gold medals. 

Obviously, this would lead to insane sponsorships, which would add to Michael Phelps' net worth in 2022 and far beyond.

Phelps’ dominance wasn’t limited to the World Championships and the Pan Pacific Games. In fact, his legacy was cemented after several masterful performances in the Olympic stage. While his Olympic debut didn’t see him win medals, Phelps’ next five Olympic appearances showed otherwise.

From 2004 to 2016, Phelps would go on to win 28 Olympic medals to cement his legacy. Among his appearances, Phelps’ 2008 campaign was arguably the most dominant. In the 2008 Beijing Olympics, Phelps captured a record of eight gold medals, which was enough to break Mark Spitz’s record that held for 36 years. Phelps has won a total of 23 gold medals in his Olympic swimming career which makes him the most decorated Olympian of all time. 

In 2016, Phelps publicly announced his retirement. Nevertheless, with several Olympic medals to his name, Phelps has earned a lot of money from those victories. Based on reports, the Olympic committee awards medal winners with prize money. Phelps’ 28 medals should give him at least a respectable amount of $640,000 in cash

Phelps has carved out a decorated swimming career that puts him as arguably the best swimmer in world history. Because of this, there’s no shortage of brands that want to sponsor a generational athlete like Phelps. According to sources, Phelps has signed sponsorship deals with Visa, Kellog’s, Under Armour, Intel, Beats, Radio Shack, PowerBar, AT&T, Call of Duty, Head & Shoulders, Colgate, Omega, Subway, and Speedo. Furthermore, Phelps has also promoted brands such as Wheaties, Louis Vuitton, and KRAVE Jerky. 

In 2003, Phelps inked a six year deal with Speedo that included a $1 million bonus if he broke Mark Spitz's record. As we all know, Phelps achieved the feat in the 2008 Olympic Games in Beijing. Despite their great partnership in the past, Phelps eventually left Speedo in 2014 and signed with rival brand Aqua Sphere on a six year deal. In 2010, Phelps inked a dryland apparel deal with Under Armour. Five years later, Phelps was rewarded with a five year contract extension. Phelps earns approximately $10 million in brand sponsorships and endorsements alone.

Apart from a decorated swimming career and various sponsorship deals, Phelps is also an equity investor for Talkspace, a company that advocates for mental health. The firm has been valued for at least one billion dollars. In 2016, Phelps also announced that he was venturing into tech investing

With several accolades that cemented his legacy in the history books, it’s no surprise that Phelps became one of the highest paid Olympic athletes. Nevertheless, were you at all stunned by Michael Phelps’ net worth in 2022?

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Lorie Orum

Update: 2024-05-18