Olympic swimming champion and world record breaker Michael Phelps has used his million dollar Beijing bonus to establish a new charity, the Michael Phelps Foundation.
Phelps announced that the Foundation will share out his prize money amongst various charitable programs promoting water safety and encouraging youths through swimming and sport.
Phelps will go on an eight-city US tour for the foundation, visiting children and sharing his experiences in Beijing, as well as launching an education program, Dream, Plan, Reach, based on a program from the gold medalists’ childhood.
‘Now, my goals reach beyond the pool, to helping others realize their dreams, and continuing to grow the sport I love so much. I feel it’s only appropriate that I continue the momentum … by committing my bonus to the establishment of the Michael Phelps Foundation, which I hope will help me inspire others to achieve their dreams, and give back to the sport that has given me so much,’ Michael Phelps said about his new charity endeavor, proving himself a winner not only in the pool but also in life.