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How much do Olympic athletes really make? Olympic gold medalist Michael Phelps is a swimming legend– and his skills have earned him an incredible net worth of $80 million. He’s one of the richest Olympians in the world, but not much of his fortune comes directly from swimming. He’s profited off of amazing endorsement, sponsorship and advertising deals. So, what does he spend all that hard earned cash on?
Michael Phelps lives in Paradise Valley, Arizona, where he’s owned two impressive mansions with giant swimming pools. They’re a big step up from his previously-owned $1 million Baltimore townhouse. He also loves cars, owning everything from a Cadillac Escalade to a Mercedes Benz SL63 convertible, and he enjoys homes with huge garages to help accommodate his car collection.
The gold medal athlete is also a fan of luxurious vacations. He’s been to expensive resorts in the Maldives to celebrate his Olympic wins and even got married at an exclusive golf resort in Cabo San Lucas, Mexico. When he’s travelling he charters a jet for himself and his friends and family.
But this Olympian loves to give back, too. The Michael Phelps Foundation has changed lives and made kids healthier. But did you know that he started the charity with a lucrative gold medal bonus he won at the Beijing Games in 2008? He’s helped out many other charities as well. From cars to causes– and mansions to the Maldives– here are all the most expensive things this star athlete spends his millions on.
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Written by: Courtney Hayes
Narrated by: Craig Freeman
Edited by: Andrew Gut
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00:36 His Paradise Valley mansions
01:51 His $1 million Baltimore Townhouse
02:25 His car collection
03:52 He takes luxurious vacations
05:22 He contributes to charity
06:13 How he makes his millions”