Winning an Olympic gold medal can mean triumph, national
pride, self-fulfillment and the reward for a life of sacrifice.
Often, it also means cold, hard cash.
For the
top countries participating in this year’s Rio Summer Olympics, a gold medal
can fetch a handsome reward. Italy, Russia and France give each of their gold
medalists $180,000, $135,000 and $65,000, respectively. China, for its
part, rewards their top players with $31,400 per gold medal, while the United
States gives out $25,000 for each gold medalist.
For countries who have been
struggling to clinch at least a gold or two, governments offer a much higher
incentive.
Singapore
A Singaporean athlete can get a
whopping 1 million Singapore dollars, or $746,000, for winning gold under its Multi-Million Dollar Awards Program. While no one has won
the prize yet, a few athletes have been rewarded for getting silver ($378,000)
and bronze ($188,000).
Taiwan
Taiwanese Olympic gold medal winners can get as much as 20
million New Taiwan Dollars, or $640,000, while silver medalists
earn $223,000 and a bronze medalists earn $160,000.
Indonesia
The Indonesian government
announced a cash prize of 5 billion Indonesian rupiah, or
almost $384,000, for gold medalists. Silver and bronze winners will get two
billion rupiah, or $152,000, and one billion rupiah, or $76,000,
respectively.
Thailand
Thailand
reportedly guarantees a 10 million baht cash incentive for gold
medalists, which is around $287,000. A silver medalist gets 6 million baht, or
$172,000. The private sector often adds cash prizes too, usually amounting to
additional millions of Thai baht.
Azerbaijan
In Azerbaijan gold medalists await a huge payday on top of the
government-backed incentive of 400,000
Azerbaijani manat, which is almost $250,000. A silver medalist gets 200,000 AZN
($124,000), while bronze fetches 100,000 AZN ($62,000).
Kazakhstan
In Kazakhstan, gold medal winners reportedly receive 86
million Kazakhstani tenge, or around $250,000. Silver wins 50 million KZT
($150,000), while bronze gets 25 million KZT ($75,000).
The Philippines
Filipino athletes who bring home a
gold medal are granted 10 million Philippine pesos, or
$215,000. Silver medalists get 5 million PHP ($107,000), and bronze medalists
get 2 million PHP each ($43,000).
India
India
announced
that gold medalists will be rewarded with 10,000,000 Indian rupees, which
is around $150,000. Silver medalists are awarded 7,500,000 Indian
rupees, or about $112,000, and the bronze medalists are awarded
5,000,000 Indian rupees, or about $75,000.
South Korea
In South Korea, gold medalists receive 60 million won, or about $55,000.
Silver medalists earn 30 million won, about $27,000, and bronze medalists win
18 million won, or about $16,000. However, South Korean coaches are
actually awarded even more money than the athletes.
On the lower end of the scale, countries like Australia and
Canada only
award their gold medalists $15,000 each. However, Great Britain doesn’t
award their athletes any money. Instead, they get their face on a stamp, but
they may receive sponsorship contracts worth more than most higher paying
countries. Others countries are
- Moldova: $132,000
one-off payment
- Romania:
$79,000 + monthly income for life
- Malaysia:
Cash bonus + $1,200 monthly payment for life
- Nigeria: $2,000
one-off payment