Author Topic: Phil Heath net worth: 8 million dollars?  (Read 12562 times)

FitnessFrenzy

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Matt

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Re: Phil Heath net worth: 8 million dollars?
« Reply #1 on: January 02, 2020, 12:48:07 PM »
He was Mr. Olympia for seven years straight...you can make about $1 million to $1.5 million per year pre-tax, as Mr. Olympia.  It's quite possible to me that Phil earned $10 million, pre-tax.  But once you consider taxes and expenses, I'm not sure what Phil would have left.  Phil seems to spend a lot of money, although not quite to the extent of Dexter Heath, or numerous Hebrew athletes in various professional sports.

Consider that Phil Heath won $400,000 in prize money for the Mr. Olympia alone, in addition to $400,000 matched by MuscleTech for several years.  So that's $2.8 million just in Mr. Olympia purse money alone, in addition to however many times he was with MuscleTech to match the prize money from them.  Shawn Rhoden said that his sponsor dropped him right before one Olympia, because they didn't want to match whatever he was going to earn, which I think was only $60,000 that particular year.

I think Phil Heath was with MuscleTech for quite some time - maybe until 2015 or something like that, and quite possibly received another $2 million from them in Olympia prize purses being matched, plus his normal contract earnings through them.  That is on top of DVD sales, and appearances, where he probably made $5,000 per weekend appearance.

It's quite possible Phil Heath could have cleared and saved $8 million, but it would boil down to how much he spent.  As I mentioned, I don't think Phil is the sort of person to save everything he earns.  If any bodybuilder is worth that much or more, I would say it's Jay Cutler.

But I would say it's possible.  It seems far more realistic to me than Seth Feroce's alleged $75 million net worth, given he has barely competed, and was never Mr. Olympia.

That Phil has made over $8 million is not something I would much doubt - whether or not he saved that much would be another matter.

joswift

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Re: Phil Heath net worth: 8 million dollars?
« Reply #2 on: January 02, 2020, 12:48:53 PM »
He was Mr. Olympia for seven years straight...you can make about $1 million to $1.5 million per year pre-tax, as Mr. Olympia.  It's quite possible to me that Phil earned $10 million, pre-tax.  But once you consider taxes and expenses, I'm not sure what Phil would have left.  Phil seems to spend a lot of money, although not quite to the extent of Dexter Heath, or numerous Hebrew athletes in various professional sports.

Consider that Phil Heath won $400,000 in prize money for the Mr. Olympia alone, in addition to $400,000 matched by MuscleTech for several years.  So that's $2.8 million just in Mr. Olympia purse money alone, in addition to however many times he was with MuscleTech to match the prize money from them.  Shawn Rhoden said that his sponsor dropped him right before one Olympia, because they didn't want to match whatever he was going to earn, which I think was only $60,000 that particular year.

I think Phil Heath was with MuscleTech for quite some time - maybe until 2015 or something like that, and quite possibly received another $2 million from them in Olympia prize purses being matched, plus his normal contract earnings through them.  That is on top of DVD sales, and appearances, where he probably made $5,000 per weekend appearance.

It's quite possible Phil Heath could have cleared and saved $8 million, but it would boil down to how much he spent.  As I mentioned, I don't think Phil is the sort of person to save everything he earns.  If any bodybuilder is worth that much or more, I would say it's Jay Cutler.

But I would say it's possible.  It seems far more realistic to me than Seth Feroce's alleged $75 million net worth, given he has barely competed, and was never Mr. Olympia.

That Phil has made over $8 million is not something I would much doubt - whether or not he saved that much would be another matter.

Who are you talking about?

Powerlift66

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Re: Phil Heath net worth: 8 million dollars?
« Reply #3 on: January 02, 2020, 01:04:05 PM »
Sites like that are not accurate, Ive seen some say "I wish" when they were asked about their worth reported on there and other sites.

I hope he is though, since he is top echelon.

Matt

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Re: Phil Heath net worth: 8 million dollars?
« Reply #4 on: January 02, 2020, 01:10:26 PM »
Who are you talking about?

Phil Heath.

IRON CROSS

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Re: Phil Heath net worth: 8 million dollars?
« Reply #5 on: January 02, 2020, 01:12:40 PM »
World DARTS Champ just collected nice metal trophy & 500 000 British coins ( US $ 657 000)  :D

& he eat pizza , drink beer ............ >:(

anabolicguru

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Re: Phil Heath net worth: 8 million dollars?
« Reply #6 on: January 02, 2020, 01:57:06 PM »
its possible, remember, lots of "fans" overseas, and ronnie and levrone's companies took off overseas only.  India and iran are filled with schmoes
I

B R

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Re: Phil Heath net worth: 8 million dollars?
« Reply #7 on: January 02, 2020, 02:00:36 PM »
World DARTS Champ just collected nice metal trophy & 500 000 British coins ( US $ 657 000)  :D

& he eat pizza , drink beer ............ >:(

And still likely more of an “athlete” than Heath.

Vince G, CSN MFT

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Re: Phil Heath net worth: 8 million dollars?
« Reply #8 on: January 02, 2020, 02:27:25 PM »
https://www.celebritynetworth.com/richest-athletes/richest-coaches/phil-heath-net-worth/

this sounds like BS...


Multi Olympia...its prob more.  The majority of the money is made from Guest Posing...especially in Saudi Arabia
A

Coffeed

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Re: Phil Heath net worth: 8 million dollars?
« Reply #9 on: January 02, 2020, 02:30:46 PM »
Making a living in bodybuilding is harder than getting in on the ground floor and getting rich from a ponzi scam. But sure, it's possible.

joswift

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Re: Phil Heath net worth: 8 million dollars?
« Reply #10 on: January 02, 2020, 02:36:36 PM »
Phil Heath.
yes, you said, way more than you needed to...

youandme

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Re: Phil Heath net worth: 8 million dollars?
« Reply #11 on: January 02, 2020, 03:01:52 PM »
I agree with Matt. Definitely can see Heath pulling that much.


OneMoreRep

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Re: Phil Heath net worth: 8 million dollars?
« Reply #12 on: January 02, 2020, 03:08:47 PM »
If I had to guess, Phil has probably made $2.5-3million after taxes + expenses, likely saved $1-1.5million at best and is slowly realizing that he needs to invest his money into vehicles that will allow for passive income for the rest of his life given that bodybuilders have a limited shelf life.

"1"


joswift

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Re: Phil Heath net worth: 8 million dollars?
« Reply #13 on: January 02, 2020, 03:16:46 PM »
If I had to guess, Phil has probably made $2.5-3million after taxes + expenses, likely saved $1-1.5million at best and is slowly realizing that he needs to invest his money into vehicles that will allow for passive income for the rest of his life given that bodybuilders have a limited shelf life.

"1"



he invests heavily in sneakers, hes not stupid...

Coffeed

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Re: Phil Heath net worth: 8 million dollars?
« Reply #14 on: January 02, 2020, 03:18:42 PM »
he invests heavily in sneakers, hes not stupid...
Apparently that's actually a thing. I wonder how many are able to actually make money on that.

BB

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Re: Phil Heath net worth: 8 million dollars?
« Reply #15 on: January 02, 2020, 03:21:17 PM »
He also divorced his first wife, I wonder if she clipped him for 1/2, alimony, etc....  Also that new wife looks high maintenance.

Also -

.

Would a multi-millionaire, almost in the 8 digits, involve himself in something like that? My gut says no, but you never know.

joswift

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Re: Phil Heath net worth: 8 million dollars?
« Reply #16 on: January 02, 2020, 03:28:25 PM »
Apparently that's actually a thing. I wonder how many are able to actually make money on that.
not sure its a great business idea, they are only worth what someone will pay for them, if you cant sell them then you are fucked, a bteer investment would be property, I assume hes doing that as well, not just renting huge mansions and blowing it on expensive cars....a lot of people who come by a lot of money end up losing it, whoever though Evander Holyfield would end up skint

Rambone

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Re: Phil Heath net worth: 8 million dollars?
« Reply #17 on: January 02, 2020, 04:55:47 PM »
That’s impossible since Seth Feroce is worth $75 million

Matt

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Re: Phil Heath net worth: 8 million dollars?
« Reply #18 on: January 02, 2020, 05:01:08 PM »
yes, you said, way more than you needed to...

Yes...but I'm just trying to break it down.  I'm skeptical of some of these earnings and net wealth claims, but I could see Phil's stated wealth to be accurate.

Matt

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Re: Phil Heath net worth: 8 million dollars?
« Reply #19 on: January 02, 2020, 05:02:36 PM »
I agree with Matt. Definitely can see Heath pulling that much.



Thanks, youandme!

tl;dr

[but for those interested in discussing pro earnings]

In an interview during the 2001 Mr. Olympia weekend, Wayne DeMilia stated that Ronnie was making over $1 million at the top, and the top 6-10 were making $150,000 or more.

I think it's safe to say that Mr. Olympia winners have been guaranteed millionaires since the early 2000's, if not the later nineties.  Probably since around 2001, when DeMilia made that statement.

If you consider $400,000 in Olympia purse money with the years that Phil [and previously, Jay] got winnings matched by way of their MuscleTech contracts, I would say that making $1 million or more pre-tax is quite realistic.

It's sad that earnings are so top-heavy like that, where the winner makes so much, and people outside the top 6-10 are working full-time jobs.  It was almost as bad in the UFC prior to Ronda Rousey, and later Conor McGregor, coming in and bringing the viewing audience [and thus, the prize purses] up substantially.

For example, George St-Pierre's first fight earned him $3,000 to show, and $3,000 to win [def. Karo Parysian], and he earned a total of $200,000 in 2006, when he first became the UFC welterweight champion of the world.

By 2013, his last year pre-comeback with Michael Bisping, GSP only won $400,000 in his win over Johny Hendricks, plus whatever pay-per-view bonus he would have gotten for that fight.  GSP made a total of $12 million in the UFC in 2013, which would have been his best year.  Here in Canada, half that cash is going to the government.  So even GSP, the top star of the UFC at the time, wasn't exactly living large.  Brock Lesnar may have made more, but only for a few years...I would have to check the data on Wiki.

Consider that Rory MacDonald was #4 in the world that year, and made something like $160,000, or maybe it was $250,000 with $160,000 in training camp and managerial costs.  MacDonald did an interview with London Real saying that he was just about losing money to fight, despite being #4 in the world, which caused him to move to Bellator.

In Canada, I think the top curler here makes $100,000 a year.

Some sports just have smaller audiences, hence smaller prize purses.  I suspect the UFC isn't as hot lately with Conor McGregor being inactive, and likely, smaller PPV sales as a result.

I almost feel bad for bodybuilders, strongmen, powerlifters, and even UFC fighters, given how small some of the purses are.  It's like to have success you need to be the very best in the world in any of these, and competitors outside the top 10 are making peanuts working full-time as personal trainers, or even selling used posing trunks to shmoes fans of the sport industry...

tres_taco_combo

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Re: Phil Heath net worth: 8 million dollars?
« Reply #20 on: January 02, 2020, 06:01:12 PM »
That’s impossible since Seth Feroce is worth $75 million

haha! omg too funny


honest

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Re: Phil Heath net worth: 8 million dollars?
« Reply #21 on: January 02, 2020, 06:08:42 PM »
If I had to guess, Phil has probably made $2.5-3million after taxes + expenses, likely saved $1-1.5million at best and is slowly realizing that he needs to invest his money into vehicles that will allow for passive income for the rest of his life given that bodybuilders have a limited shelf life.

"1"



Your on On the money and in five years Heath will be out of money, we are in the low yield era, his lifestyle will outstrip his return and he will eat away his investment capital like many others in the coming decade.
He's past the point where he can ramp up his investment capital significantly and he won't have the discipline to reduce his lifestyle to compensate.

harmankardon1

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Re: Phil Heath net worth: 8 million dollars?
« Reply #22 on: January 02, 2020, 06:13:33 PM »
Good point on the first divorce that would have cost him.....

And shurie don't look cheap at all.

That said he would have easily been able to attain 8 million if he made a few okay investments with his money, which I think he most likely has....

AbrahamG

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Matt

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Re: Phil Heath net worth: 8 million dollars?
« Reply #24 on: January 02, 2020, 06:18:45 PM »
BS in that he's probably worth much, much more. 

Hard to say about "much more".  What would he have made, maximum, during his Mr. Olympia years?  With $400,000 in the Olympia prize purse, and an equal figure matched by MuscleTech, that's $800,000.  Say he made triple that - $2.4 million - and made it for all seven years he was Mr. Olympia.

We're looking at $16.8 million.  And I'm not sure if Phil would have been making that kind of cash, but I suppose it's possible.

From there, what is the US tax rate for top earners?  Phil seems to be a bit of a baller...I could see him having spent millions.  But I could believe he saved $8 million.  I think it does boil down to his saving habits.  He definitely earned millions of dollars.