Why They Rank
Most decorated Olympian ever (28 medals, 23 gold). Peak endorsement income of $12M/year. Speedo, Under Armour partnerships. Wealthiest swimmer in history by far.
The Fortune
Michael Phelps is the most decorated Olympian in history with 28 medals, including 23 gold -- both all-time records that may never be matched. His dominance in the pool from 2004 through 2016 made him the face of Olympic swimming and one of the most marketable athletes in the world during each four-year Olympic cycle. His endorsement income peaked at an estimated $12 million per year during Olympic years.
Phelps's endorsement partners have included Speedo (with a $1 million bonus for winning eight golds in Beijing), Under Armour, Omega, Visa, Subway, and Louis Vuitton. His Under Armour deal, signed in 2010, was one of the brand's most high-profile partnerships and kept Phelps commercially relevant between Olympics. He lost his Kellogg's sponsorship in 2009 after a photo surfaced of him using a bong, but the controversy was short-lived.
Post-retirement, Phelps has become an advocate for mental health awareness, sharing his struggles with depression and anxiety. He has also invested in a swim school franchise and various business ventures. His net worth of $100 million makes him the wealthiest swimmer in history by a wide margin, in a sport where most athletes earn virtually nothing.
Wealth Source
Olympic bonuses, endorsements, media appearances, investments
Top Endorsements
Fun Facts
Phelps consumed an estimated 12,000 calories per day during peak training, including entire pizzas and pounds of pasta in single sittings.
His arm span is 6'7" while he is 6'4" tall -- his disproportionately long arms are considered a biomechanical advantage that made him uniquely suited for swimming.
He won eight gold medals at the 2008 Beijing Olympics, breaking Mark Spitz's record of seven in a single Games.
Frequently Asked Questions
Who is the richest athlete of all time?
Michael Jordan is the richest athlete of all time with an estimated net worth of $3.5 billion. His wealth comes primarily from the Jordan Brand, the sale of the Charlotte Hornets, and decades of endorsement deals. His NBA playing salary was just $94 million -- a fraction of his total fortune.
How do athletes build wealth beyond their playing salary?
The wealthiest athletes build wealth through endorsement deals, equity stakes in companies, brand ownership, franchise ownership, venture capital, and real estate. The key insight is taking equity over flat endorsement fees whenever possible -- turning short-term fame into long-term compounding assets.
Which athletes are billionaires?
As of 2026, four athletes have confirmed billionaire status: Michael Jordan ($3.5B), Tiger Woods ($1.3B), LeBron James ($1.2B), and Magic Johnson ($1.2B). Several others are approaching the threshold, including Arnold Palmer's estate ($875M), Lionel Messi ($650M), and Michael Schumacher ($600M).
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