Michael Phelps' net worth is estimated to be around $55 million, making him one of the richest athletes at the 2016 Summer Olympics in Rio de Janeiro. Gold medals and lucrative endorsements helped build his wealth.
How old is Michael Phelps now?
June 30, 1985
How much does a swimmer make a year?
Swimmers who do not perform well at the Olympics stand to earn a minimum of $15,000 for the year. SA says top athletes will be paid up to $25,000 initially, and earn $35,000 for an individual gold medal. Relay teams will split a $60,000 bonus.
How much is Usain Bolt's net worth?
The $34.2 million for 2017 tracks slightly higher than 2016, when Forbes pegged Bolt's earnings at $32.5 million. According to CNBC, Bolt has been with Puma since 2002, when the sprinter was just 16. Prior to the 2016 Olympics, the deal was paying him $10 million a year. It's not clear how much the deal is worth now.
How much is a Michael Phelps gold medal worth?
The Rio gold medals weigh 500 grams, the heaviest medal ever awarded in a summer games. So far, Phelps has won four of them. That's $1,144.80 worth of gold this year and another $1,320.60 in silver. It's a good time to hold precious metals.
How much is Missy Franklin's net worth?
Missy Franklin net worth: Missy Franklin is an American competitive swimmer who has a net worth of $3 million. Missy Franklin was born in Pasadena, California in May 1995. She has competed for the University of California, Berkeley and the Colorado Stars.
How much money is Ryan Lochte worth?
Ryan Lochte's net worth is $6 million.
How much is Lindsey Vonn's net worth?
Outside of her sport, Vonn has a number of sponsorship deals, a new clothing line, a gorgeous Vail, Colo. home and the Lindsey Vonn Foundation to help young girls grow as athletes. It is unclear exactly how much money Vonn has to her name, but according to a 2013 article from Forbes, Vonn's net worth was $3 million.
How much does a professional gymnast make a year?
Expected Lifetime Earnings: $1,252,440. For that one in a million who hits the gymnastics jackpot, the U.S. Olympic committee will pay $25,000 for a gold medal, $15,000 for the silver, and $10,000 for the bronze. But the real money is in sponsorships, which can be in the millions if you win.
How much is the Olympic gold medal worth?
With that in mind, the value of melting down a gold medal won at the PyeongChang Games would be about $577, MONEY calculated using CoinApps.com. Silver medals, which are solid, would be worth about $320, while a bronze medal—which is made of a copper alloy—is worth only $3.50.
How much does bolt get paid?
As Bolt's fame soared, his paycheck took off as well. Bolt earned an estimated $20.3 million over the last 12-months from prize money, bonuses, appearance fees and sponsors. He ranks No. 63 among the world's highest-paid athletes.
Do you have to pay tax on your gold medal?
Americans for Tax Reform, a lobby group that opposes the "medal tax", says the total tax bill paid by medallists is far more considering the additional payouts US Olympians get for winning a podium place, with $9,900 tax to pay for a gold, $5,940 for a silver and $3,960 for a bronze medal.
How much is Michael Phelps is worth?
Michael Phelps Net Worth: $55 Million. The freestyle has proven lucrative for Phelps … that and the butterfly, backstroke and breaststroke.
How much money do you get from winning a gold medal?
America's Olympic medalists must pay state and federal taxes on the prize money they get for winning. The U.S. Olympic Committee awards $25,000 for gold medals, $15,000 for silver and $10,000 for bronze. That's not all. Olympians also have to pay tax on the value of the medals themselves.
How many gold medals does Michael Phelps have in total?
Full list of every Olympic medal Michael Phelps has won. The most decorated athlete in Olympic history, American swimmer Michael Phelps finished his career with 23 gold medals and 28 overall. Phelps was just 15 years old when he made his Olympic debut at the 2000 Games in Sydney.
How much is Shaun White's net worth?
How Much Shaun White Is Worth. Olympian Shaun White may have added some gold to his collection Tuesday night, but he's got plenty of green to his name as well. White is the wealthiest of the U.S. Olympians competing in the winter games this year, with some estimates putting his total net worth at $40 million.
How many medals does Michael Phelps have in total?
Even Michael Phelps couldn't imagine an ending this good. In his final race before retirement, the most decorated Olympian in history led the U.S. to victory in the 400-meter medley relay at the Olympic Aquatics Stadium on Saturday. Phelps finished a career that spanned five Olympics with 28 medals, 23 of them gold.
How much is Apolo Ohno Worth?
Apolo Ohno net worth and salary: Apolo Ohno is an American Olympic speed skater who has a net worth of $10 million. During his career as an Olympic athlete, Apolo Ohno has won eight medals, including two gold medals, and two silver medals.
How much money does Simone Biles have?
Simone Biles net worth: Simone Biles is an American artistic gymnast who has a net worth of $2 million. Simone Biles was born in Columbus, Ohio in March 1997. She has been a member of the United States national team since 2012.
Can professional athletes compete in the Olympics?
In 1986, professional athletes were given permission by the International Federation to compete in each sport of the Olympic Games. For instance, in the 1992 Olympic Games, the United States was allowed to field a basketball team comprised of well-paid NBA stars, called "The Dream Team."
How much money does Gabby Douglas make in a year?
Gabby Douglas Net Worth: $3 Million. Known as the “Flying Squirrel,” Douglas' success at the 2012 Olympics lured in big-name endorsers and a lot of press. She graced the cover of TIME magazine and was the 2012 Associated Press female athlete of the year.
How much do figure skaters make a year?
The Basics. Professional ice skaters may be engaged in competitions and shows in various parts of the U.S. and internationally. The most celebrated are Olympic gold medal winners. The average salary is $87,340, according to Mymajors.com, citing a 2010 Bureau of Labor Statistics report.
How much money do athletes make in a year?
This past year, Woods ranked third, earning a measly $59.4 million. Athletes from 11 sports made the Forbes list, with the world's 100 highest-paid athletes earning a combined $2.6 billion in salaries, bonuses, prize money, appearance fees and endorsements.