The Untold Truth Of Michael Phelps

May 2024 · 2 minute read

Michael Phelps is a rarity in his sport for many reasons. Besides his obvious domination in swimming competition, he's also highly profitable in a sport that generally goes unnoticed in between the Olympic Games. As a result of the swimmer's unprecedented medal run in 2008, Phelps set himself up for huge payouts. According to Forbes, his agent, Peter Carlisle, predicted the Olympian "could earn $100 million over the course of his lifetime from sponsors." And over a decade later, Phelps was already getting closer to that prediction. 

According to Celebrity Net Worth, Phelps' fortune was worth an estimated $80 million in 2021, with the swimmer reportedly "enjoy[ing] one of the most lucrative post-Olympics careers in American history," in part due to his sponsorships from the likes of Speedo, Under Armour, Visa, Wheaties, and more. With that kind of money, the Maryland native could likely live anywhere he wanted — and Phelps has used some of his earnings to splurge on a 6,010-square-foot, $2.5 million home in Scottsdale, Arizona. According to Town & Country, the luxurious, five-bedroom residence rests "on almost an acre of land near Arizona State University," and boasts a pool and four total fireplaces.

As for Phelps' money-making power, this retired Olympian is showing no signs of slowing down. Back in 2016, he told CNBC of his entrepreneurial aspirations, "You never know what can happen. I love to get involved in small things on the side and have fun with stuff. I guess only time will tell."

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