Michael Phelps used Beijing 2008 bonus to launch youth foundation

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Following his eight gold medals at the 2008 Beijing Olympics, Michael Phelps used a $1 million bonus to establish his foundation. The organization promotes swimming, water safety, and healthy living for young people. Its programs aim to build confidence and coping skills in children. The foundation has since expanded to include mental health education and, through partnerships, reaches diverse communities globally.

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