Katie Ledecky Net Worth 2016: Olympic Champion Swimmer Turns Down $5-Million Endorsement Deals Per Year to Prioritize Studies at Stanford University
After dominating the pool at the Rio 2016 Olympics, American competitive swimmer Katie Ledecky refused to cash in on her newfound popularity. The five-time Olympic medalist turned down around $5 million annually in endorsements to attend Stanford University.
Easy Decision
Ledecky shared to ESPN Radio's "Mike and Mike" that choosing to pass up millions to prioritize her studies was not a difficult decision. The 19-year-old decorated swimmer explained that she has always wanted to swim collegiately and go to class with her fellow student swimmers.
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Ledecky postponed her enrollment for a year to focus on her preparations for the Rio 2016 Olympics. At Stanford University, she will continue to compete as an amateur. She will also join a decorated swim team that will include Olympic medalists Lia Neal and Simone Manuel.
"I know we have a really great team," the nine-time world champion expressed. She added that she is excited to see what they can achieve together as a team.
Ledecky's 2016 Net Worth
In an interview with ESPN ahead of the Rio Games, Bob Dorfman, Olympic sports marketing expert, said that Ledecky could become the female version of Michael Phelps and rake as much as $5 million per year in endorsement deals if she turned a pro. He explained that the aquatic darling has the personality and likability that can attract long-term deals.
Moreover, per Tom Gerencer of Money Nation, Ledecky has a total net worth of $68,000 as of August 2016. He added that the competitive swimmer's net worth could have hit as high as $2.2 million if she chose to compete professionally instead of going amateur at Stanford University.
Gerencer projected that Ledecky made a total of $65,000 under the U.S. Olympic Committee's "Operation Gold" program. He stressed that the Olympian's amateur status prevented her from raking $350,000 in swimming championships and $3 to $4 million in pre-tax endorsements.
Since Ledecky preferred to compete as an amateur under Stanford's team, the NCAA rules will bar her from receiving a sports salary or signing big endorsement deals. A professional swimmer like Michael Phelps earns more than $10 million per year from endorsement deals.
Future Plans
Ledecky is the reigning world-record holder of the women's 400-meter, 800-meter and 1,500-meter freestyle. According to USA Today, Ledecky disclosed in a press conference that she has not figured out her goals yet for the upcoming years.
Ledecky stated that there are plenty of interesting options. She added that she will make a choice after heading out to Stanford and sitting down with her head coach Greg Meehan.
