Hailed by the Olympic website as “arguably the greatest Olympian of all time,” Michael Phelps boasts an unmatched record of 28 Olympic medals, including 23 gold medals – more than double the total of his closest rivals and cementing his reputation as a swimming legend.
Phelps retired in 2012, but made a comeback before retiring in 2016. Since retiring from professional swimming, Phelps continues to earn a significant income from endorsement deals, estimated at approximately $10 million per year. Some of his notable partnerships include brands such as Beats by Dre, Subway, Omega, Visa, Under Armour, and Wheaties.
Phelps earned approximately $1.9 million during his swimming career. Most notably, he received a $1 million bonus from Speedo after winning eight gold medals in 2008, which he used to start a foundation. American swimmers received a total of $100,000 per gold medal at the 2016 Olympics, which was Phelps' final Olympics.
The majority of Phelps' wealth comes from endorsement deals and bonuses, but he also diversifies his income streams through his own swimwear brand, sponsored social media posts, and the writing of two books. He also makes more than $100,000 in speaking fees.
The future for professional swimmers is bright, with organisations such as the International Swimming League (ISL) and the International Swimming Federation (FINA) offering huge prize money, suggesting that swimming may become an increasingly viable and lucrative career path for aspiring athletes.
Have you read?
The best CEO.
Best company.
The richest people (billionaires).
Richest women (billionaires).
The richest people (billionaires) in each country.
Add CEOWORLD Magazine to your Google News Feed.
Follow CEOWORLD Magazine headlines: Google News, LinkedIn, twitterFacebook, etc.
Copyright 2024 CEOWORLD Magazine. All rights reserved. This material (and excerpts) may not be copied, redistributed or posted on any website without the prior written consent of CEOWORLD Magazine. For media inquiries, please contact info@ceoworld.biz.
