Breaking Mark Spitz’s Incredible Record at Beijing Olympics Paved the Way for Michael Phelps to Start His Foundation in 2008: “My Whole Thing Started From One Dream”

Michael Phelps is the most decorated swimmer in the world. He is the one true GOAT of the swimming pool. He has collected phenomenal accolades over the span of his illustrious career.

However, Phelps did not achieve this immaculate success overnight or all on his own. There was something more than just his hard work. Phelps credits his success to the combined support system he had while realizing his dream. It comprised support from his family, the guidance of his coaches, and encouragement from his team.

Phelps deal with Speedo

From the time he was 16, Speedo has been sponsoring Phelps. Unlike any other contract, Phelps’ contract with Speedo had an additional clause. According to the clause, they promised Phelps a bonus worth $1 million if he succeeds to tie the record of Mark Spitz by winning seven gold medals in a single Olympic campaign.

In the 2008 Olympics Games held in Beijing, not only did Phelps reach his goal, but he also broke the record by winning eight gold medals. Subsequently, he won the bonus money from Speedo and utilized it to establish the Michael Phelps Foundation.

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Talking about the foundation, he said, “My whole thing started from one dream. I just never gave up. You’re going to have bumps in the road. It all depends on how you deal with those bumps. If you want something bad enough, you’re not going to give up until you get it. That’s really what I’m trying to help kids understand.”

About the Michael Phelps Foundation

Using the bonus money earned from Speedo, Michael laid the foundation of the Michael Phelps Foundation in 2008, along with his wife, Nicole Johnson. Phelps leads the foundation himself. The foundation works with the motive of providing a support system to aspiring swimmers, promoting water safety, cultivating a healthy lifestyle, and helping them to pursue their dreams.

In 2010, the Michael Phelps foundation along with its school and KidsHealth.com launched a program named the IM program. The program advocates the value of planning and goal setting. It was formulated to educate children about the importance of a healthy and active life. Apart from the IM program, the organization has also launched two other programs, namely Caps-for-a-Cause and Level Field Fund-Swimming.

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Michael Phelps, through his foundation, continues to work for the better of the athletes, mainly swimmers, in society.