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Olympic swimmer dips into property investment
Country: United States; United States
11 September 2008
Michael Phelps, who won eight gold swimming medals at the recent Olympics in Beijing, will spend his newfound wealth on building a property portfolio.
It’s projected that the swimmer will earn up to $100m (£57m) in sponsorship and endorsements after breaking the record for the number of gold medals won in a single Olympic Games.
It’s expected that US housing stock will dominate Phelps’ portfolio, given that residential prices in America are falling, thus offering genuine value for money. He has already purchased a $1.7m (£970,000) apartment in Baltimore.
Thaddeus Shelly of Bessemer Trust, a leading investment company, comments: “This is a terrific opportunity for a young man. If he gets the best advice he will never have to worry about an income again. Of course property is going to be part of his investment future.”
Phelps may care to look at property for sale in USA that is listed on Homesoverseas.co.uk.
See Also: Olympic Games, United States
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