Michael Phelps is the most decorated Olympian, with 28 Olympic medals, of which 23 are gold. However, Phelps isn’t just a legendary athlete and swimmer. He is also a successful entrepreneur with numerous sponsorship deals and a swimwear company. Phelps hasn’t slowed down after retiring from competitive swimming in 2016.

While Phelps has collaborated with multinational brands like Under Armour and Speedo, he has also helped start-ups to expand. The Olympic legend recently teamed up with a number of famous personalities to invest in and help grow a New York-based business.

Michael Phelps teams up with Hollywood celebs

The “Baltimore Bullet” recently became an angel investor for the Ney York-based Bagel chain PopUpBagels. However, the 23-time Olympic gold medalist didn’t invest in the business alone. Michael joined famous personalities, including Hollywood celebrities and other athletes, to help the three-unit Bagel project expand beyond New York.

PopUpBagels first caught the attention of Hollywood producer John Davis. In the past, Davis has invested in LeBron James’ Blaze Pizza, Wetzel’s Pretzels, and others. Now actors Paul Rudd and Patrick Schwarzenegger have joined Davis. Besides Michael Phelps, athletes Michael Strahan, JJ, and TJ Watt have also invested in PopUpBagels.

Founder Adam Goldberg explained how his project started. “PopUpBagels started as a home kitchen project to share my love for baking, and a unique bagel recipe with friends,” said Andrew. However, his bagels became popular, and customers started pouring in, which enabled Andrew to open two more units. “I’m thrilled to have the support of many experienced investors,” said Andrew.

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Adam said he plans to expand the chain in New York and open new stores in New Jersey and Connecticut. However, Adam has no immediate plans for franchising and will use “Small-footprint storefronts and existing underutilized restaurant kitchens,” to expand his business.

The champion entrepreneur

Michael Phelps put on his entrepreneurship shoes even before retiring. Phelps had already established his swimwear company before going to Rio. At the Rio Olympics, Michael wore swimsuits his company designed and manufactured. In a 2017 interview with CNBC, Phelps also showed interest in venture capital and investing.

“I love to get involved in small things on the side and have fun with stuff. I guess only time will tell.” Phelps told the hosts. While the “Baltimore Bullet” is yet to step into venture capital, Phelps is making good on his plans to invest in small businesses.

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