Michael Phelps's Net Worth Remains Impressive Years After He Retired From the Olympics
The former Olympian just handed his record over to "the new Michael Phelps" — Leon Marchand.
Published July 29 2024, 10:34 a.m. ET
Former Olympic swimmer Michael Phelps attended the Paris 2024 Olympics after officially retiring from the games — and a stellar career — in 2016. Even though fans are no longer watching him swim competitively, he's still considered one of the GOATs of the sport.
Michael set the record for most medal wins by any Olympic athletes, with 39 world records to his name. Keep reading to see what his net worth is today.
What is Michael Phelps's net worth?
Michael's passion for swimming came at a young age. He began taking lessons at age 7, and by 15, he was selected to be in the U.S. Summer Olympic Team. By the time of his high school graduation, he had set five new world records. Michael went on to break records and, in 2008, gained national attention for breaking the national record of winning eight gold medals in a single Olympic competition.
Michael beat out Mark Spitz's 1972 record of seven gold medals won in a single Olympic Games. The record threw Michael into mainstream media, bringing multiple endorsements as Michael continued to compete in the games.
Michael Phelps
Former Olympic Swimmer, Entrepreneur
Net worth: $100 Million
Michael Phelps is a former Olympic swimmer and the most decorated Olympian of all time, winning 28 gold medals during his competitive career.
Birthdate: June 30, 1985
Birthplace: Baltimore, Md.
Birth name: Michael Fred Phelps II
Marriage: Nicole Phelps (nee Johnson), m. 2016
Children: 4 — Boomer, Beckett, Maverick, and Nico
In August 2016, Michael announced his plans to retire from swimming after the Olympics in Rio de Janiero. While he hasn't played professionally since, his net worth shows he's doing OK, as he's reportedly worth $100 million. The earnings come from Michael's endorsements and his entrepreneurial efforts, one of which is his subscription service, Airwayz, where he offers swimming lessons and other fitness tutorials. The swimming lessons are listed at $5,000 a pop.
Michael is also an Olympic commentator, still revered for his record-breaking swimming career. He enjoys supporting his fellow athletes. He even cheered on France's Leon Marchand as the swimmer broke his 400m individual medley record.
However, despite still being involved with the sport, he's seemingly enjoying his retirement, which he spends with his wife, Nicole, and their kids, Boomer, Beckett, Maverick, and their youngest, Nico, whom they welcomed in January 2024.
