Michael Phelps is widely regarded as one of the greatest Olympians of all time, boasting an incredible 23 Olympic gold medals.  Michael Phelps' net worth, focusing on his earnings, endorsements, investments, and financial legacy. Early Life and Rise to Stardom Born on June 30, 1985, in Baltimore, Maryland, Michael Fred Phelps II showed exceptional swimming talent from a young age, setting national records by age ten. His breakthrough came at the 2000 Sydney Olympics when, at just 15, he became the youngest male to join the U.S. Olympic team in 68 years. Although he did not medal, this experience was crucial for his future success. Financial Success of Michael Phelps Olympic Bonuses and Earnings Olympic athletes often receive monetary bonuses from their national Olympic committees for winning medals. In the United States, gold medalists can earn up to $37,500 per medal. Michael Phelps' collection of gold medals would have earned him significant prize money through th...