Michael Phelps Net Worth, Salary, Endorsements

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Michael_Phelps

Michael Fred Phelps

Net Worth: $30 million

Source of Wealth: sports, swimming

Born: June 30, 1985 in Baltimore, Maryland

Nicknames: The Baltimore Bullet; MP; Flying Fish

Phelps began swimming at the age of seven. He competed in the 2000 Summer Olympics in Sydney, Australia, become the youngest male to make a U.S. Olympic swim team in nearly 70 years. While he did not win a medal 2000, he did make the finals.

Michael Phelps became a superstar at the 2004 Olympic Games in Athens, Greece, winning eight medals (six gold and two bronze), which tied with Soviet gymnast Aleksandr Dityatin (1980) for the most medals in a single Olympic Games. At the 2008 Summer Olympic Games in Beijing, China, Michael won eight gold medals, which surpassed swimmer Mark Spitz’s seven-gold performance at Munich in 1972.

How much money does Michael Phelps make?

Entering the 2008 Summer Olympic Games in China, Phelps was reportedly earning an estimated $5 million annually from sponsorship deals from companies like Speedo, AT&T, and Visa. After 2008, his salary increased to at least $6 million a year. Most of his income comes from sponsorships.

In 2008, Phelps was reportedly paid $100,000 just for appearing at a showbiz party, and swimming some laps.

Phelps’ agent, Peter Carlisle, said Phelps could earn $100 million over the course of his lifetime.

Paid endorsements

Here’s a list of his endorsements:

Speedo USA – maker of swimsuits, a licensed brand of the Warnaco Group Inc.

Visa Inc. – credit card company

Omega – luxury watchmaker that is a unit of Swatch Group AG

Hilton Hotels Corp. – hotel

PowerBar – nutrition bar made by Swiss chocolate maker Nestle SA.

AT&T Inc. – communications provider

Kellogg Co. – Food company. Maker of Frosted Flakes cereal. (dropped him in 2009)

Rosetta Stone Ltd. – language learning software maker

PureSport – sports performance beverage, made by Human Performance Labs

SwimRoom.com – Internet site for swimmers

Nike -  footwear, sportswear company

Head & Shoulders – anti-dandruff shampoo produced by Procter & Gamble.

Subway – restaurant franchise that sells sandwiches

Under Armour – sports clothing company.

Louis Vuitton – luxury goods

Property

He reportedly owns a few pieces of prime real estate along the East Coast, including a townhouse in Baltimore, Maryland that he’s selling for $1.4 million.

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Posted by Admin   @   28 July 2012 0 comments

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