Michael Phelps ~ $80 Million

Michael Phelps earns a lot from sponsorship money after having won 28 medals (23 of which are gold) in the Rio Olympics back in 2016. He began swimming with his coach’s help at the age of 7, and adults immediately recognized his talent for the sport. Now, he is regarded and considered by many as the greatest swimmer of all time.

Before becoming the most decorated Olympian in history, he started in the 2000 Sydney Olympics, where he qualified but failed to win. With all his winnings in the Rio Olympics, though, he became a target of many brands such as Nike, Speedo, and Kellogg’s. These brands paid him millions. In 2009, he had a minor scandal when he was caught smoking a banned substance, which caused him to lose some of his sponsorships. Now that he is retired, we think it’s best for him to talk to a financial advisor to assure that his fortune will last him a lifetime.