Michael Phelps Net Worth $40 Million But Set to Explode With Commercial Opportunities
Michael Phelps' net worth before the London Olympics was said to be about $40 million, according to Forbes.
However, with new endorsements and deals once he returns to Baltimore, those figures will probably rise quickly. Especially following his amazing success at the London 2012 Olympic Games.
Phelps has become the most decorated Olympian in history, earning his 22nd medal in his final race on Saturday before he retires. Of those 22 Olympic medals, 18 of them are gold. That unprecedented success will surely cement his place as the golden boy of the Team USA Olympic squad. When he returns home to the United States he is sure to be hit with a storm of commercial opportunities.
It is likely Phelps will be offered a flood of opportunities featuring in TV commercials, prime time interview spots, book and autobiography publishing offers among many others. He will also probably be offered consistent commentary and analyst opportunities for top sports networks, and could easily charge a hefty fee to give testimonies or tell his story at public events.
If he is managed well commercially post-London 2012 Phelps could substantially expand on his estimated $40 million wealth.
Phelps completed his Olympic fairy tale on Saturday, finishing his time as an active Olympian in perfect style by taking another gold medal in the 4x100 Meter Medley Relay.
With his final medal, Phelps did not only add to the debate that he is the greatest Olympian ever, but he further cemented himself in the medals race pantheon with no signs he'll be superseded anytime soon.
Phelps now possesses 22 medals in total - 18 gold, two silver and two bronze.
Phelps possesses six world records, three individual and three team based.
The records are:
100-M Butterfly - 49.82 secs (Aug. 1, 2009)
200-M Butterfly - 1:51.51 secs (July 29, 2009)
400-M Individual Medley - 4:03.84 secs (Aug. 10, 2008)
4x100-M Freestyle Relay - 3:08.24 secs (Aug. 11, 2008)
4x200-M Freestyle Relay - 6:58.55 secs (July 31, 2009)
4x100-M Medley Relay - 3:27.28 secs (Aug. 2, 2009)
According to Michael's mother, Debbie Phelps, who was recently interviewed by Yahoo Sports, one of Phelps' immediate plans after retiring is playing more golf. The swimmer's mother told Yahoo that Phelps plans on playing golf in various courses around the world. She even opened the possibility that Phelps would return for the Rio Olympics in 2016 insisting that 'never is never' but confirmed that for now his son plans to hang up his goggles and leave the swimming pool.
