Olympic athletes get paid based on if they win a medal.

For 2008, the payment schedule is:

Gold: $25,000

Silver: $15,000

Bronze: $10,000

(Source: http://teamusa.org/content/index/894)

Also, Michael Phelps had an agreement with his sponsor Speedo in which a $1 million bonus was included if Phelps earns a record seven Olympic gold medals at the 2004 Olympic games in Athens, Greece, or the 2008 Olympics in Beijing, China, which he accomplished.

(Source: http://promomagazine.com/othertactics/marketing_speedo_strikes_endorsement/)

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Q: Does Michael Phelps get paid for his medals?

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Michael Phelps has 23 olympic medals

its 2008 .. Michael Phelps got 8 medals

how many medals has Michael Phelps got from all of the olmypics

21 medals

8 medals

Michael Phelps has 19 gold medals

Michael Phelps has a of 6 bronze medals, 2 of which were from the Olympic games.

Michael Phelps has won 16 Olympic medals (14 gold and 2 bronze).

Michael Phelps has 17 gold medals so far.

Michael Phelps has 16 olympic medals* (14 gold, 2 bronze) and no he did not get stripped of any medals. *not including 2012

he has 14 gold medals

7 silver medals.

8 gold medals

he has about 52 gold medals

Michael Phelps won 8 medals, all gold in the 2008 Olympic games.

Michael Phelps won 8 gold medals in the 2008 Summer Olympics in Bejing!

Michael Phelps an American swimmer won 14 career Olympic gold medals, the most medals won by any Olympian.

Michael Phelps won a total of 8 medals in the Beijing 2008 Olympic Games (all 8 of them were gold medals).

Michael Phelps won 11 gold medals and beat the world record

Michael Phelps did not win any medals in the 2000 Sydney Olympic Games. His first medals came in 2004 in Athens.

Michael Phelps (22 medals).

He has 16 Olympic medals.

17 gold medals.

Michael Phelps

No he didnt