Michael Phelps Donates $1 Million Bonus To Swim Groups

This is classy. Michael Phelps, who could be confused with a shark in the pool, and who shattered all kinds of records in Beijing, will be donating his $1 million bonus for breaking Mark Spitz's record of seven gold medals at one Olympic games to swim programs.

Appearing on TODAY, Phelps announced that the Michael Phelps Foundation will distribute his prize money to various charitable programs to promote water safety and encourage youth swimming.

“This is a way for me to really help to grow the sport,” Phelps told TODAY co-host Matt Lauer on Tuesday.