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.

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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.

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Another of Phelp’s huge sponsors is Under Armour. Although the exact size of the deal has not been disclosed, a report by The Street suggests that Phelps earned US$5 million from the endorsement.

Venturing outside his niche, Phelps also made an appearance in luxury brand Louis Vuitton’s core campaign Beyond The Limits in 2012.

According to a report by The Street, it is estimated that Phelps has earned at least US$75 million thanks to the sponsorship and advertising deals he took on over the years.

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The Michael Phelps Foundation

On top of this, Phelps has also contributed to charity events, including being the global ambassador for Colgate’s “Save Water” campaign that started in 2016. One of their targets was to reach the 42 per cent of Americans who, in 2017, admitted to keeping the tap running as they brush their teeth.

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Properties

In 2018, Phelps resold a home he had bought in Paradise Valley, Arizona, in 2015, for an estimated profit of US$1 million according to The Street. He replaced it with another property in Paradise Valley. It was also reported that he had sold a Baltimore town house for US$916,000 in 2016.

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Books

Among Phelps’ other roles, he is a published author, having written two bestselling autobiographies and a children’s book.

On-screen appearances

Another way Phelps has supplemented his fortune was through TV appearances. In 2013, he was invited to join a competitive golfing show, The Haney Project. He also guest-starred as himself in an episode of the popular drama Suits, of which he is an avid fan.

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