Michael Phelps net worth could be affected following another arrest in Baltimore City, Maryland late in September. A number of fans may recall that Michael Phelps' net worth was mainly due to his impressive winning streak at the 2008 Olympics. Following his arrest on DUI, will Michael Phelps be able to make a comeback into the scene by the 2016 Olympics?
According to The Richest, Michael Phelps net worth is at $55 million. Phelps career as a swimmer had helped him amass not only 39 world records and 18 Olympic medals but millions in earnings. A number of endorsement deals with Omega, Speedo, Visa, PowerBar and AT&T also helped in gaining Michael Phelps' net worth of $55 million.
However, following his second arrest for driving under the influence, could Michael Phelps net worth be greatly affected? The Olympian swimmer was arrested in Maryland at around 2 am when he was caught over-speeding. Officers at the scene noticed that the Olympian was intoxicated. This is the second arrest for DUI as his first arrest was in 2004 also in Maryland.
Apart from the controversy involving Michael Phelps DUI arrest, the swimmer was photographed in 2009 smoking from a glass pipe, which was immediately pointed out as marijuana. Phelps had showed regret for his acts and made a statement through the Los Angeles Times.
"I engaged in behavior which was regrettable and demonstrated bad judgment. I'm 23 years old, and despite the successes I have had in the pool, I acted in a youthful and inappropriate way, not in a manner that people have come to expect from me. For this, I am sorry. I promise my fans and the public - it will not happen again," stated the Olympian.
Despite the statement, a number of commenters on Facebook have slammed him for his actions. Some even went far as attacking Michael Phelps net worth with one saying: "Net worth of 40 million and still not smart enough to hire a driver. Can't fix stupid."
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