How Much Money Do Olympians Make For Winning Medals? The Country Giving The Most Money To Athletes Is Surprising

Advertiser Disclosure

Advertiser Disclosure

The Wealth Gang team writes about financial information, passive income ideas, apps, programs, cash management tools and other wealth gadgets that we think you might want to use or learn more about. Sometimes, we write about products, services or items that might be associated with affiliate partnerships. In these instances, we will earn a small percentage of the revenue from sales. There is, of course, no cost to you.

Thank you for all your support! Without you, we could not keep this site running. Gang Gang!

how much money do Olympians make?

Winning a medal at the Olympics will bring an athlete instant fame and notoriety.

In most countries, including the United States, bringing home a gold, silver, or bronze medal will also earn an amateur a monetary “thank you” for a job well done.

Unfortunately for the athletes of some countries, the amount of money in their checking account will be nice but not exactly life-changing, especially compared to the time, dedication, and sacrifice Olympians put into training for the sporting events.

CNBC analyzed the monetary compensation athletes will receive from their countries and highlighted an amazing story about Hidilyn Diaz, the first Filipino ever to win a gold medal.

“While the International Olympic Committee does not pay prize money to medalists, many countries offer monetary rewards to their athletes for the number of medals they win at the Olympics.

The Philippines clinched its first-ever gold medal in Tokyo this week, making Filipino weightlifter Hidilyn Diaz the country’s first Olympic gold medalist.

As a reward for her historic achievement, Diaz will reportedly receive at least 33 million Philippine pesos (around $600,000) from the Philippine Sports Commission as well as the country’s top businessmen. She has also been offered two homes and free flights for life, according to reports.”

Here’s how much money Olympians make for standing out among all the contenders.

How much money do Olympians make for winning medals?

CNBC broke down the twelve countries that reward athletes with the biggest purses for a medal win, and the country topping the list is rather surprising.

Singapore rewards athletes with $737,000 for a gold medal, $369,000 for silver, and $184,000 for bringing home a bronze.

Next on the list is Kazakhstan. The country gives gold medal winners $250,000, hands out $150,000 to silver medalists, and $75,000 to bronze medal winners.

RELATED: Former Olympian Explains The Lessons Learned After Going From Millionaire To Almost Broke

So, where does the United States rank on the list? The US comes in at number 9, behind the two countries previously mentioned, plus Malaysia, Italy, the Philippines, Hungary, Brazil, and Japan.

Olympians from the United States will earn $37,500 for a gold medal, $22,500 for silver, and $15,000 for bronze.

To see the complete list of payouts, check out the entire article on CNBC.

Author
Chris Illuminati

Chris Illuminati is the author of five books and has written about personal finance, wealth, debt management, and entrepreneurship for numerous outlets including Wise Bread, Grow or Die, and Bankrate.

Current Top Offers

Earn an unlimited 1.5% back in Bitcoin on every purchase with the BlockFi Rewards Visa® Signature Credit Card.

Invest spare change easily. Get $5 when you sign up for Acorns.

fundrise logo

Invest in Commercial Real Estate With As Little As $10

Put your crypto to work. Get up to a $250 crypto bonus with a transfer of $100 or more in crypto.

m1 finance logo

Get a $50 bonus for creating and funding a new account