Athletes who win a gold, silver, or bronze medal at the 2024 Paris Olympics receive a medal, a poster, and a stuffed toy of the Olympics mascot — but no money.
Even though the International Olympic Committee doesn’t offer a financial prize for a win, some countries still offer medalists cash bonuses. On Tuesday, based on data from the National Olympic Committees, CNBC published a list of the countries that reward winning athletes and how much they receive for each medal.
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Hong Kong and Singapore are the most generous, rewarding gold medalists with over half a million dollars.
Paris 2024 Olympic Games. Photo by Michael Reaves/Getty Images
The U.S. finished tenth on the list, with prizes ranging from $15,000 to $38,000.
Becoming an Olympic athlete takes a six-figure investment with no guaranteed return, salary, or federal support to cover expenses. Rick Hawn, who competed in the 2004 Olympics in judo, said his family felt the financial strain of his Olympic career.
“My parents nearly went bankrupt,” Hawn told The Huffington Post. “They put whatever they could into me and I’m the oldest of six kids.”
The Paris Olympics costs up to $21,700 in fees and membership dues, but the annual income of one in four U.S. Olympians is less than $15,000. Team USA does award nearly $2.5 million in private grants every year.
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Here are the top five countries with the highest Olympic payouts.
Hong Kong
Gold: $768,000
Silver: $384,000
Bronze: $192,000
Singapore
Gold: $745,000
Silver: $373,000
Bronze: $186,000
Indonesia
Gold: $300,000
Silver: $150,000
Bronze: $60,000
Israel
Gold: $271,000
Silver: $216,000
Bronze: $135,000
Republic of Kazakhstan
Gold: $250,000
Silver: $150,000
Bronze: $75,000
Here’s how the U.S. pays its medalists
Gold: $38,000
Silver: $23,000
Bronze: $15,000
For the full chart, click here.
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