One country awards its decoration winners $ 1 million !
You might imagine that winning an Olympic medal sets an athlete up for life, sort of like winning the Hunger Games. However, that’s not the case.
Here are 14 facts about how much money Paris 2024 Olympic medalists win (and what other prizes they receive):
1.Winning a gold, silver, or bronze medal doesn’t guarantee any additional rewards. The International Olympic Committeedoesn’t awardmonetary prizes, so it’s up to the athlete’s home country.
2.In place of prize money, the IOCdistributes90 percent of its income through national Olympic committees and international federations.
3.There are 206 countries and territories competing in the Paris Olympics, but only 33 haveconfirmedthey’ll award their athletes money for winning medals.
4.The US Olympic & Paralympic CommitteepaysAmerican medal winners — $37,500 for gold, $22,500 for silver, and $15,000 for bronze.
5.Singaporeoffersmedalists six-figure sums based on the event they win. Gold medalists are awarded $1 million for individual events, $1.5 million for team events, and $2 million for team sports.
6.Reportedly, 15 countries award gold medal winners six figures.
7.Along with offering prize money for medal winners, Malaysiagrantsall of its Olympic competitors a lifetime pension equivalent to around $400–$1,100 per month.
8.Any Malaysian athlete who wins a gold medal in Paris will also berewardedwith a foreign car.
9.Kazakhstanawardsits Olympic, Paralympic, and Deaflympic medalists with apartments. The higher the medal, the bigger the apartment they get.
10.In New Zealand, gold medalists aregivenan annual bonus of $40,000 until the next Olympics.
11.Great Britainreportedlydoesn’t award its medalists prize money, but non-professional athletes with high potential to medal canreceiveAthlete Performance Awards, which are funded through the National Lottery, to aid with their living expenses as well as costs associated with their sport.
12.In a historic move, World Athletics (the international governing body for athletics)will award$50,000 to the gold medal winners in the 48 track and field events. It’s the first ever international federation to give Olympic athletes cash prizes.
13.Similarly, the International Boxing Associationpledgedto award payouts to boxing medalists in Paris — $100,000 for gold, $50,000 for silver, and $25,000 for gold.
14.And finally, some Olympic athletes have been calling for the International Olympic Committee to start awarding prize money.
