- The U.S. Olympic and Paralympic Committee (USOPC) gives $37,500 for every gold medal, $22,500 for silver, and $15,000 for bronze.
- Some international locations provide considerably larger payouts, with Singapore reportedly providing as much as $1 million for gold.
- The money bonuses for athletes are simply a part of the help they obtain, which may embody grants, medical health insurance, and month-to-month allowances.
The U.S. Olympic and Paralympic Committee (USOPC) will proceed its monetary reward system generally known as “Operation Gold” for the 2024 Paris Olympics.
American athletes can anticipate to earn $37,500 for each gold medal, $22,500 for each silver, and $15,000 for every bronze. Whereas these figures might seem substantial, they fall under the payouts of a number of different nations.
Nations Rewarding Gold
The payout buildings range considerably throughout international locations. Germany gives bonuses for athletes who end between fourth and eighth place, guaranteeing that near-podium performances are additionally rewarded. Morocco gives notable payouts of $200,525 for gold and $125,328 for silver, extending bonuses even to athletes who end as far down as thirty second place.
One of the crucial intriguing plans comes from Poland, celebrating the centenary of its first Olympic efficiency. Hong Kong, competing independently from China, is providing $768,000 for a gold medal. This quantity is greater than every other nation gives for a silver medal—a considerable $380,000 bonus. For comparability, Israel and Serbia provide $275,000 and $218,000 respectively for gold medalists.
The U.S. sometimes disburses extra total attributable to its larger medal depend. Group USA topped the Tokyo Olympics medal desk with a powerful haul of 39 golds, 41 silvers, and 33 bronzes. Nevertheless, the rewards for particular person medals within the U.S. are modest in comparison with different nations, at “simply” $37,500 for each gold medal, $22,500 for each silver, and $15,000 for every bronze.
Past Money Bonuses
Whereas money bonuses are vital, they’re only one type of help for Olympians. The USOPC dietary supplements its monetary rewards with grants, medical health insurance, and different advantages.Â
Some international locations go additional, offering lifelong month-to-month allowances to gold medalists. Malaysia and Bulgaria, as an illustration, provide over $1,000 per 30 days for all times, whereas Chile, Kosovo, and Lithuania have related advantages that final till the subsequent Olympics. New Zealand gives yearly bonuses, with gold medalists receiving $40,000 yearly till the following Video games. Denmark’s gold medal reward of $15,000, although modest, is tax-free, a notable perk in a rustic with excessive tax charges.
Nevertheless, the story of the U.S. Ladies’s Water Polo Group made headlines earlier this yr, the place their star participant Maggie Steffens made an Instagram put up highlighting that a few of their athletes are working 2nd and third jobs to make ends meet, all whereas coaching to compete. This caught the eye of rapper Taste Flav, who signed a 5 yr sponsorship take care of U.S. Water Polo to verify this does not need to occur.
The Worth Of Olympic Medals
The worth of an Olympic gold medal extends past its financial reward.
Regardless of its identify, the gold medal is predominantly made from silver. Weighing 529 grams, it consists of 505 grams of silver, six grams of pure gold plating, and 18 grams of iron. If made solely of gold, the medal can be value roughly $41,161.50.
Nevertheless, primarily based on at present’s worth, the worth is roughly $900 primarily based on the present worth of gold and silver.
The final pure gold medals have been awarded in 1912.
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