He is human after all! Michael Phelps LOSES his last individual race and has to settle for sharing silver with TWO other swimmers in dramatic tie

Michael Phelps' last individual event wasn't a golden one, but his signature smile did not fade. 

Phelps lost the top spot on the Olympic podium for the first time ever in the Men's 100m butterfly event - and for the first time during his incredible run in Rio. 

Joseph Schooling, a 21-year-old from Singapore, took home the gold with a record time of 50.39 seconds.

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Michael Phelps lost his final individual Olympics race to Joseph Schooling of Singapore (pictured together), who set a new Olympic record

New kid on the block: Despite the loss, Phelps was all smiles with Schooling as they looked at the clock after the Men's 100m butterfly event

Phelps was quick to come over and congratulate Schooling, who took home the gold with a record time of 50.39 seconds

Three-quarters of a second later, Phelps touched the wall at the same moment as South Africa's Chad le Clos and Hungary's Laszlo Cseh, all three recording a time of 51.14 seconds. 

'It is a wild way to end my individual career. It is just wild,' Phelps said after the race. I was like 'Three? Three of us tied for third?'

The race had been billed as a clash between Phelps and le Clos.

But Schooling looked stunned and humbled as he claimed his tiny nation state's first ever Olympic gold medal after racing Phelps, his childhood hero. 

Schooling was born in Singapore, but went to school in Jacksonville, Florida before attending the University of Texas. 

'It was just a thrill to swim against Michael Phelps and all those guys,' he said after the shock win. 'I'm just ecstatic. I don't think it has set in yet. It's just crazy.' 

Phelps hardly looked dejected as he claimed his silver, linking arms with le Clos as all three swimmers enjoyed rapturous applause.

The Greatest of All Time said he was happy to have finished his Olympic solo career by tying with two of his closest rivals.

'A three-way tie is pretty wild,' he said. 'It's faster than I went, I think, four years ago to win. Joe is tough.'

'He had a great year last year and has had a really great last two years so hats off to him. He swam a great race.'

Phelps added: 'Well I saw second next to my name and then I looked up again and then I looked over at Laszlo and Chad like, huh, we all tied for second, that's kind of cool.

'Chad and I have had some races over the last four years and Laszlo and I - I can't even remember when our first race was.

'Probably as long as Ryan (Lochte) and I. So kind of special and a decent way to finish my last race. I can't complain too much.' 

Schooling, meanwhile, smiled and tried to take in the enormity of his win as the gold was placed around his neck and the unfamiliar national anthem of Singapore rang out. 

The young swimmer clasped his chest, sang along and fought back tears before punching the air as he took a lap around the aquatic arena.

He still looked awestruck as Phelps congratulated him warmly, scarcely able to believe he had beaten the Team USA legend. 

'I'm sorry if I don't seem like I'm full of emotions but I don't know what to believe - that I actually did it or I'm still preparing for my race. I'm between the two of them,' Schooling said. 

The two swimmers even shared an embrace in the pool after the thrilling race, which had originally been billed as a clash between Phelps and South Africa's Chad le Clos

Schooling, 21, looked stunned and humbled as he claimed his tiny nation state's first ever Olympic gold medal after racing Phelps, his childhood hero 

Schooling first met Phelps at a training camp in Singapore in 2008, the same year Phelps would compete in Beijing

'I need to let this moment sink in, realize what I've done and then I'll have a better understanding of what I accomplished.' 

'But right now all I can say is I'm really honored and privileged to have an opportunity to race in an Olympic final alongside huge names like Michael Phelps, Chad Le Clos and Laszlo Cseh, guys that have redefined the sport.'  

Phelps still has a chance to end his Olympic career on a golden note, as he will race in the Men's 4x100 medley relay. 

He has already won gold in the Men's 200m medley, as well as the 200m butterfly, 4x100 freestyle relay and 4x200 freestyle relay.

If Team USA takes the win, the 31-year-old will retire with 23 Olympic gold medals and 28 medals total. 

But Phelps' teammates are already hoping he will change his mind and return to the games in Tokyo four years from now.  

Rio has turned out to be an incredible swan song for Phelps, who had originally planned to retire after the London 2012 games. 

'I hope that Michael can stay around long enough for me to race him again,' Le Clos said after their race on Friday. 'I'd love that'.

Phelps however insists he is done.

'Done. Chad asked me in the award area and the Dwyers were chanting 'four more years.'

'They did the same thing in London. The 800 free relay guys said four more years... No I am NOT going four more years.

'And I'm standing by that.

'I've been able to do everything I've ever put my mind to in this sport. And 24 years in the sport. I'm happy with how things finished.'

He added: 'Being able to close the door on this sport how I want to, that's why I'm happy now.

'I'm ready to retire. I'm happy about it. I'm in a better state of mind this time than I was four years ago. And yeah. I'm ready to spend some time with (baby son) Boomer and (fiancee) Nicole.'

He added that he would be in Tokyo in four years but not to compete. 

Ryan Lochte is already hoping he'll get the chance to have a rematch with Phelps in the Men's 200m medley after falling to the fifth spot on Thursday.

'I guarantee he will be there,' Lochte said of Phelps on the Today Show Friday morning. 

'I think so. I really think so. So Michael, I'll see you in Tokyo!' 

Even Phelps' mother Debbie wants him to return to the games, telling the Today Show it 'would be wonderful' to see him swim in a sixth Olympics.  

Lochte said his own loss in that race, the first time he failed to medal in the event since the 2004 Athens games, has 'sparked a fire' in him to return. 

It remains to be seen if Phelps' silver medal win on Friday will do the same, although he told Schooling after the race: 'No way.' 

'If he changes his mind, that would be fun,' Schooling said. 'I like racing Michael.'   

Whether or not Phelps comes back for Tokyo, his return to the pool has been an incredible tale of redemption after years of landing in the headlines for all the wrong reasons.

Phelps had won three consecutive Olympic gold medals in the Men's 100m Butterfly since the 2004 Athens games

He failed to make it a four-peat on Friday but he still laughed as he made a three with his hand to signify the incredible three-way tie for the silver medal

Hungary's László Cseh, part of three-way tie,  also threw up the number three with his hands from across the pool 

Phelps clasped hands with his rival Chad le Clos of South Africa, who also won silver on Friday night 

The three swimmers looked at the clock in shock and awe when they realized all three of them had tied

After Phelps' long golden streak in Rio, Friday night's tie was one of the surprises to happen in the pool this week

The Olympian was arrested for driving under the influence in September 2014 and soon after checked himself into rehab.

Phelps has since described that fateful night as a call for help. He came out on the other side a different man - and a different athlete.

'I want to be here. That's the difference,' he told the Today Show as he trained for Rio in April. 'I haven't trained like this in a decade.'

'I had no desire to go to work out before. And I want to retire how I want to retire. And I have a great opportunity to do that.'

No doubt some of Phelps' new perspective can be attributed to another new role in his life as fiancee to Nicole Johnson and father to their three-month-old baby Boomer.

Phelps' adorable son has been the only person able to steal the spotlight from the unstoppable swimmer.

After the medal ceremony for the 200m butterfly earlier this week, Phelps broke ranks during the customary walk around the pool and bounded into the stands to plant a tender kiss on Boomer.

'You're going to bring tears to my eyes now,' the Olympian said when asked about the sweet moment.

Phelps was all smiles as he held up his first silver medal from the Rio games on Friday night 

It was a rare sight to see three swimmers sharing the silver medal spot on the podium, and they still looked in shock 

But the boys were still happy to show off the new hardware around their necks, even if it wasn't gold

Schooling still looked awestruck as he took the top spot, scarcely able to believe he had beaten the Team USA legend

Schooling said he felt 'honored and privileged' to have an opportunity to race in an Olympic final alongside Phelps

Phelps, Le Clos and Cseh's flags hung together side-by-side to illustrate the three-way tie 

Good teammate: Phelps celebrated fellow American swimmer Maya Dirado's surprise gold medal just moments before he got into the pool for his own race

'I wanted to be with him more,' he added. 'Being able to share that one moment that I had with him was definitely something very special.' 

Phelps revealed on Thursday night that he has tried to look up at Boomer and Johnson before the start of every race in Rio. 

And the Greatest of All Time hasn't been afraid to show his emotions in these final Olympic games. 

Phelps held back tears as he took the top spot on the podium after winning gold in the 200m individual medley on Thursday. 

He said afterwards it was still a dream to win gold, even if he has repeated the feat 22 times.

'I say this a lot, but every single day I'm living a dream come true, he explained. 

'As a kid I wanted to do something that no one had ever done before and I'm enjoying it.'

'Being able to finish how I won is just something very special to me and this is why you are seeing more and more emotion on the medal podium.'

'You know as a kid, it's not like pulling teeth to get me in the pool anymore. I want to finish my career how I want to, so that's what I'm doing.' 

Phelps silver was the only event of the night that didn't see an American gold. 

Maya DiRado started the evening off with a surprise gold medal in the women's 200-meter backstroke final. 

She was then followed up by Katie Ledecky who totally outclassed her opponents in the 800m freestyle, finishing more than 12 seconds ahead of her closest opponents.

And in the surprise of the evening, Anthony Ervin won the 50m freestyle at the age of 35, becoming the oldest ever gold medalist in swimming, some 16 years after he won the same event in Sydney.

Golden girl: 19-year-old Katie Ledecky, from Washington DC, won her fourth gold of these Olympics and fifth in all

The other swimmers were nowhere to be seen as Ledecky powered through to win some 12 seconds ahead of her rivals

United States' Maya Dirado celebrates after winning a surprise gold medal in the women's 200-meter backstroke final

Gold medalist Maya DiRado of USA can't believe her win during the medal ceremony for women's 200m Backstroke

Golden oldie! Anthony Ervin won the 50m freestyle at the age of 35, some 16 years after he won the same event