Olympic and Paralympic medals are displayed during the Paris 2024 Olympic and Paralympic medal unveiling ceremony on February 1, 2024 in Paris, France.
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The 2024 Paris Olympics are in full swing. Dozens of medals have been awarded.
In addition to the medals, there are also stuffed toys of the Olympic mascots and A “mystery” box containing the official event postersome medalists received additional financial rewards for their efforts.
While the IOC does not award medal bonuses to athletes for winning medals, some countries do award medal bonuses to athletes.
Here are some of the payouts, based on information CNBC gathered from national Olympic committees, sports associations and local reports.
maximum payout
Hong Kong and Singapore offer the highest prize money to Olympic champions.
Cash rewards for Hong Kong athletes The number of participants in the Paris Olympics increased by 20% compared to the Tokyo Summer Olympics. Hong Kong Chief Secretary for Administration Chan Kwok-kee announced in early July that the gold medal winner would receive a prize of HK$6 million (US$768,000). silver and bronze medalists Earned HK$3 million and HK$1.5 million respectively.
This year, the city is expected to receive huge bonuses due to earlier medal wins in swimming and fencing. Kong Weiwei wins Hong Kong’s first medal At the Paris Olympics, she reached the podium in the women’s epee individual competition. Fencer Zhang Jialang also won the award Men’s Individual Foil Gold Medal Swimmer Siobhan Bernadette Haughey won bronze in the event Women’s 200m freestyle.
Singapore honors Olympic medalists S$1 million The Gold Award is US$745,300, the Silver Award is S$500,000, and the Bronze Award is S$250,000. The city-state has awarded its top cash prize to just one athlete: Joseph Schooling. The now-retired swimmer won the gold medal in the 100m butterfly at the 2016 Rio Olympics, beating American Michael Phelps.
Singapore’s Joseph Schooling won the gold medal in the men’s 100m butterfly final on day 7 of the 2016 Rio Olympics.
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Other governments offering six-figure cash prizes to gold medalists include Israel; Malaysia, Kazakhstan and Indonesia. Israel reportedly will provide 1 million Israeli shekels (US$270,537), a 50% increase over the Tokyo Olympics.
Host country France The company also reportedly increased its cash incentives. The gold medal winner is expected to receive 80,000 euros ($86,528) – 15,000 euros more than what was awarded at the Tokyo Games.
Some offer incentives to athletes beyond the podium. german sports aid foundation Cash prizes are awarded to the eighth-place finisher in the Olympics. The gold medal winner will receive 20,000 euros ($22,000).
Indian Olympic athletes receive monetary rewards from the government and its national sports body, according to local media reports. The government provides 7.5 million rupees ($90,000) to the gold medalist, while the Indian Olympic Committee alone provides 10 million rupees ($120,000).
Cars, cows and apartments
In addition to or instead of cash, some athletes receive additional bonuses such as apartments and cars from the government and private companies.
Kazakh Olympic athletes reportedly Can earn $250,000 in gold medals, $150,000 in silver and $75,000 in gold. The state is still distributing Medal winner’s apartment.
Local media reports National Sports Council of Malaysia A reward of RM1 million is offered ($215,563) individual gold medalist, while silver medalist Estimated to earn RM300,000, the bronze medalist will receive RM100,000. Some private companies in Malaysia Other incentives were reportedly offered, such as Luxury serviced apartment or extra cash.
All athletes who successfully reach the podium will also Given a “foreign-made car”, According to local media reports, the remarks of Malaysian Youth and Sports Minister Yeo Qiao Shuang.
Hong Kong team gold medalist Wen Hui Kong celebrates on the medal podium during the women’s individual epee medal ceremony at the Grand Palais in Paris, France, on day one of the 2024 Paris Olympics.
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South Korean medalists receive pensions in addition to prize money.
in a 63 million won windfall (US$43,288), local media reported that the South Korean gold medalist can also choose to receive a monthly pension of 1 million won for life, or a one-time pension of 67.2 million won.
The silver medalist will receive 35 million won and the bronze medalist will receive 25 million won.
Some athletes also receive other gifts, such as free drinks and transportation.
Hong Kong public transport operators Hong Kong Railway Corporation Free lifetime tickets will be provided to the city’s medalists, According to local media reports.
Apart from PLN 200,000 ($50,374) According to reports, Klaudia ZwoliÅ„ska from the Polish Olympic Committee will also receive a painting, a holiday voucher, a silver medal for winning the silver medal in the women’s canoe slalom K1 competition. A scholarship and a diamond.
Olympians are often awarded wacky tokens of appreciation.
A local chain has promised athletes who represent Malaysia at the Tokyo Olympics will receive Free food and teh tarik for lifeAccording to local media reports. Teh tarik is a hot milk tea drink popular in Southeast Asia.
Japanese table tennis player Kasumi Ishikawa After winning the silver medal at the Tokyo Olympics, he was given 100 bags of rice. Indonesian badminton gold medalists Apriyani Rahayu and Greysia Polii reportedly bequeathed Five cows, a meatball restaurant and a new house.
Athletes from the UK, Norway and some other countries will not receive any direct cash prizes for finishing on the podium.
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