{"id":1392929,"date":"2021-07-31T02:16:57","date_gmt":"2021-07-31T06:16:57","guid":{"rendered":"https:\/\/sports7.us\/?p=1392929"},"modified":"2021-07-31T02:18:34","modified_gmt":"2021-07-31T06:18:34","slug":"do-olympic-athletes-get-paid-for-winning-gold-medals","status":"publish","type":"post","link":"https:\/\/sports7.us\/news\/do-olympic-athletes-get-paid-for-winning-gold-medals\/","title":{"rendered":"Do Olympic Athletes Get Paid for Winning Gold Medals?"},"content":{"rendered":"\n<p>Xander Schauffele of the United States and <a href=\"https:\/\/sports7.us\/hideki-matsuyama-likely-celebrate-masters-win-sake-party-pretty-good\/\">Hideki Matsuyama<\/a> of Japan have banked a combined $9 million in winnings on the PGA Tour this season. There are potential awards at stake in the <a href=\"https:\/\/sports7.us\/tag\/olympics\/\">Olympics<\/a>, too. But like their NBA brethren competing in Tokyo, going for the gold is more a matter of pride than prize money.<\/p>\n\n\n\n<p>That\u2019s not the case for all, however. Athletes in lesser-known sports from some nations are chasing lucrative rewards from their respective Olympic committees. Some of the money is borderline outlandish.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-do-olympic-athletes-get-paid-for-winning-gold-medals\"><strong>Do Olympic athletes get paid for winning gold medals?<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The Philippines welcomes home nation\u2019s first Olympic gold medallist, Hidilyn Diaz\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/Bfak1Ofc9Yg?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Hardly anyone outside of the weightlifting community heard of <a href=\"https:\/\/www.cbsnews.com\/news\/hidilyn-diaz-philippines-olympic-gold-weightlifting-reward\/\" target=\"_blank\" rel=\"noreferrer noopener\">Hidilyn Diaz<\/a> before the first few days of the Tokyo Olympics. That changed following her winning performance and the story that followed.<\/p>\n\n\n\n<p>Diaz, 30, won the women\u2019s 55-kilogram gold medal in a story of sheer perseverance. She qualified for her fourth Olympics by training in Malaysia for five months, improvising with water containers while stranded there by coronavirus-related travel restrictions.<\/p>\n\n\n\n<p>Her gold medal marked a first by an athlete from the Philippines, making her an immediate national hero. It also made her wealthy because her country is among those that reward medalists.<\/p>\n\n\n\n<p>In addition to the $200,000 that the Philippine Sports Commission pays its country\u2019s gold medalists, businesses put up another $400,000. She also reportedly received offers of two homes.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-money-varies-dramatically-from-country-to-country\"><strong>The money varies dramatically from country to country<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The History of Olympic Medals\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/fQQ-ce27LLA?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Although the International Olympic Committee doesn\u2019t pay prize money to athletes who earn medals, the rewards that some individual countries offer are impressive.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2021\/07\/29\/tokyo-olympics-how-much-athletes-earn.html\" target=\"_blank\" rel=\"noreferrer noopener\">CNBC<\/a> compiled data from a dozen countries that reward their athletes for winning medals at the Tokyo Olympics:<\/p>\n\n\n\n<table cellpadding=\u201d0\u201d cellspacing=\u201d0\u201d border=\u201d0\u201d width=\u201d100%\u201d>\n<tr><td><b>Country<\/b>    <\/td><td><b>Gold<\/b>   <\/td><td><b>Silver<\/b>   <\/td><td><b>Bronze<\/b>   <\/td><\/tr>\n<tr><td>Singapore    <\/td><td>$737,000   <\/td><td>$369,000   <\/td><td>$184,000   <\/td><\/tr>\n<tr><td>Kazakhstan    <\/td><td>$250,000   <\/td><td>$150,000   <\/td><td>$75,000   <\/td><\/tr>\n<tr><td>Malaysia    <\/td><td>$236,000   <\/td><td>$71,000   <\/td><td>$24,000   <\/td><\/tr>\n<tr><td>Italy    <\/td><td>$213,000   <\/td><td>$107,000   <\/td><td>$71.000   <\/td><\/tr>\n<tr><td>Philippines    <\/td><td>$200,000   <\/td><td>$99,000   <\/td><td>$40,000   <\/td><\/tr>\n<tr><td>Hungary    <\/td><td>$168,000   <\/td><td>$126,000   <\/td><td>$96,000   <\/td><\/tr>\n<tr><td>Brazil    <\/td><td>$49,000   <\/td><td>$29,000   <\/td><td>$20,000   <\/td><\/tr>\n<tr><td>Japan    <\/td><td>$45,000   <\/td><td>$18,000   <\/td><td>$9,000   <\/td><\/tr>\n<tr><td>United States    <\/td><td>$37,500   <\/td><td>$22,500   <\/td><td>$7,500   <\/td><\/tr>\n<tr><td>South Africa    <\/td><td>$37,000   <\/td><td>$19,000   <\/td><td>$7.000   <\/td><\/tr>\n<tr><td>Canada    <\/td><td>$16,000   <\/td><td>$12,000   <\/td><td>$8,000   <\/td><\/tr>\n<tr><td>Australia    <\/td><td>$15,000   <\/td><td>$11,000   <\/td><td>$7,000   <\/td><\/tr>\n<\/table>\n\n\n\n<p>While Singapore rewards its medalists most lavishly, the catch is that the government does not have to pay off very often. Singapore has won just five medals in its history, and the only gold came in the 2016 swimming competition in Rio de Janeiro.<\/p>\n\n\n\n<p>Not all rewards come in the form of cold, hard cash. Before the fall of the Soviet Union, the nation\u2019s medalists earned upgraded apartments or other living arrangements. In addition, many of their athletes were technically soldiers in the Red Army but trained or competed full-time. They had no actual military responsibilities while enjoying a variety of perks.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-rewards-for-u-s-athletes-are-modest-but-usually-tax-free\"><strong>Rewards for U.S. athletes are modest but usually tax-free<\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1500\" height=\"999\" src=\"https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-4.jpg?w=1024&#038;h=682&#038;strip=all&#038;quality=89\" alt=\"Gold medalist Katie Ledecky looks on after competing in the women's 800-meter Freestyle final at Tokyo Aquatics Centre on July 31, 2021. | Tom Pennington\/Getty Images\" class=\"wp-image-1392931\" srcset=\"https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-4.jpg 1500w, https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-4.jpg?w=300&amp;h=200 300w, https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-4.jpg?w=768&amp;h=511 768w, https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-4.jpg?w=1024&amp;h=682 1024w, https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-4.jpg?w=1200&amp;h=799 1200w, https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-4.jpg?w=90&amp;h=60 90w\" sizes=\"(max-width: 1500px) 100vw, 1500px\" \/><figcaption>Gold medalist Katie Ledecky looks on after competing in the women's 800-meter Freestyle final at Tokyo Aquatics Centre on July 31, 2021. | Tom Pennington\/Getty Images<\/figcaption><\/figure>\n\n\n\n<p>It may seem as though the United States undervalues its athletes\u2019 excellence by paying just $37,500 to gold medalists. Silver and bronze medals are worth $22,500 and $15,000, respectively. However, Team USA pays out more frequently than any other country. American athletes outdistanced China, 104-91, in the 2012 medal standings at London.  The margin was 121-70 at Rio de Janeiro in 2016.<\/p>\n\n\n\n<p>Bear in mind, too, that athletes in many team sports are professionals who earn substantial salaries from their basketball, hockey, and soccer teams. As for lesser-paid athletes, their Olympic prize money generally <a href=\"https:\/\/sports.yahoo.com\/most-u-olympians-avoid-federal-140023845.html\" target=\"_blank\" rel=\"noreferrer noopener\">is not taxable<\/a> for total incomes under $1 million. <a href=\"https:\/\/sports7.us\/kevin-durant-had-better-day-new-york-than-cade-cunningham-did\/\">Kevin Durant<\/a> and Draymond Green don\u2019t figure to care either way.<\/p>\n\n\n\n<p>Even many U.S. Olympians who don\u2019t make it onto the awards podium still benefit throughout the year. The respective national governing bodies in the Olympic sports set their own stipends. According to <a href=\"https:\/\/www.newsweek.com\/do-olympic-athletes-get-paid-tokyo-2020-1611817\" target=\"_blank\" rel=\"noreferrer noopener\">Newsweek<\/a>, a U.S. swimmer ranking in the top 16 in the world is eligible for about $40,000 a year.<\/p>\n\n\n\n<p>That\u2019s on top of whatever individual endorsement deals that athletes sign. For instance, swimmer <a href=\"https:\/\/sports7.us\/swimmer-katie-ledecky-bides-her-time-with-chocolate-milk-as-she-waits-out-the-olympics\/\">Katie Ledecky<\/a> reportedly signed a six-year, $7 million agreement with swimwear apparel company TYR in 2018.<\/p>\n\n\n\n<p>That dwarfs the $37,500 she picks up with seeming regularity for her gold medals.<\/p>\n\n\n\n<p><em>Like <\/em><a href=\"https:\/\/www.facebook.com\/Sports7dotcom\/\"><em>Sports7<\/em><\/a><em> on Facebook. Follow us on Twitter <\/em><a href=\"https:\/\/twitter.com\/Sports719\"><em>@sports719<\/em><\/a><em>.<\/em><\/p>\n\n\n\n<p><strong>RELATED: <a href=\"https:\/\/sports7.us\/jalen-suggs-olympic-gold-medalist-suni-lee-share-special-bond\/\">Jalen Suggs and Olympic Gold Medalist Suni Lee Share a Special Bond<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Like other U.S. athletes, swimming sensation Katie Ledecky earns $37,500 every time she captures a gold medal at the Tokyo Olympics.<\/p>\n","protected":false},"author":140,"featured_media":1392930,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4898],"tags":[10366,11071],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.3 (Yoast SEO v22.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Do Olympic Athletes Get Paid for Winning Gold Medals? - Sports7<\/title>\n<meta name=\"description\" content=\"American athletes can earn $37,500 for each gold medal that they win in the Tokyo Olympics, but other countries pay even more money.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sports7.us\/news\/do-olympic-athletes-get-paid-for-winning-gold-medals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Do Olympic Athletes Get Paid for Winning Gold Medals?\" \/>\n<meta property=\"og:description\" content=\"American athletes can earn $37,500 for each gold medal that they win in the Tokyo Olympics, but other countries pay even more money.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sports7.us\/news\/do-olympic-athletes-get-paid-for-winning-gold-medals\/\" \/>\n<meta property=\"og:site_name\" content=\"Sports7\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-31T06:16:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-31T06:18:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sports7.us\/wp-content\/uploads\/2021\/07\/Katie-Ledecky-3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"999\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"John Moriello\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Sports7J\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"John Moriello\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sports7.us\/news\/do-olympic-athletes-get-paid-for-winning-gold-medals\/\",\"url\":\"https:\/\/sports7.us\/news\/do-olympic-athletes-get-paid-for-winning-gold-medals\/\",\"name\":\"Do Olympic Athletes Get Paid for Winning Gold Medals? 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A graduate of St. John Fisher University, he finds inspiration in the underdogs and the fascinating stories sports can tell (both the thrill of victory and the agony of defeat). John expertly covers all aspects of NASCAR. Beginning with his 2014 coverage at Fox Sports of the aftermath of the dirt-race tragedy in which Kevin Ward Jr. died after being struck by a car driven by NASCAR Hall of Famer Tony Stewart, John has excelled as a journalist who specializes in the motorsports world. He previously spent more than three decades covering high school sports and worked as a beat writer covering Big East football and basketball, but NASCAR is now where the true expertise falls. John is a member of the New York State Basketball Hall of Fame (2013), the President of the New York State Sportswriters Association, and a two-time Best of Gannett winner for print and online collaborations whose work has appeared on FoxSports.com and MaxPreps.com.","sameAs":["","Sports7J","john-moriello-1a11743","",""],"jobTitle":"John Moriello | Sports7 Staff Writer, Producer - Motorsports","email":""}]}},"_links":{"self":[{"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/posts\/1392929"}],"collection":[{"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/users\/140"}],"replies":[{"embeddable":true,"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/comments?post=1392929"}],"version-history":[{"count":2,"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/posts\/1392929\/revisions"}],"predecessor-version":[{"id":1392933,"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/posts\/1392929\/revisions\/1392933"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/media\/1392930"}],"wp:attachment":[{"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/media?parent=1392929"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/categories?post=1392929"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sports7.us\/wp-json\/wp\/v2\/tags?post=1392929"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}