Michael Phelps is believed to have had a net worth of $40 million prior to the Olympic Games 2012 in London, but that amount is set to sky rocket following his amazing achievements over the past two weeks.
- (Photo: Reuters/Michael Dalder)
It is expected that Phelps will be inundated with dozens of endorsement deals when he returns home to Baltimore. After becoming the most decorated Olympian of all time Phelps has become a household name not just for the months following the Olympics, but for many years to come as he made history with his flurry of medals at his third Olympics.
Michael Phelps managed to take his overall tally of Olympic medals to 22, with 18 of those being gold. It is an astonishing achievement which well surpasses the previous record of 18 medals which stood for decades before Phelps came near it. It would be fair to say that it will be many years before anyone comes near Phelps' record.
Phelps' unprecedented success will cement his place as the golden boy of the 2012 Team USA Olympic squad. When he returns home to the United States he is sure to be hit with a storm of commercial opportunities.
Phelps will likely be offered various opportunities to feature in TV commercials, prime time interview spots, book and autobiography publishing offers among many others.
Other opportunities that may come his way will also probably be commentary and analyst opportunities for top sports networks. Other sports stars when they retire are often able to charge a reasonably large fee to give testimonies or tell their inspirational stories at public events.
If Phelps takes full advantage of his commercial opportunities post-London 2012 he could substantially increase his estimated $40 million wealth.
Many have promoted Phelps as the greatest Olympian ever in the wake of his achievements at the London Olympic Games. He certainly is the most decorated athlete, and although the debate about whether he is the "greatest" Olympian is a divisive one, no one can debate that he has earned his place to rightfully be debated alongside the other Olympic greats who have inspired throughout the years.