Athletes who win a gold, silver, or bronze medal at the 2024 Paris Olympics get a medal, a poster, and a stuffed toy of the Olympic mascot — but no money.
Even though the International Olympic Committee does not offer a financial prize for winning, some countries still offer prize winners cash bonuses. On Tuesday, based on data from the National Olympic Committees, CNBC published a list of the countries that awarded the winning athletes and how much they received for each medal.
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Hong Kong and Singapore are the most generous, receiving gold medals worth more than half a million dollars.
Paris 2024 Olympic Games. Photo by Michael Reaves/Getty Images
The US 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 corporate support to cover the cost. Rick Hawn, who competed in the 2004 Olympics in judo, said his family was experiencing financial hardship during his Olympic career.
“My parents are almost broke,” Hawn told The Huffington Post. “They put me in anything they can and I’m the eldest of six children.”
The Paris Olympics cost up to $21,700 in fees and membership fees, but the annual income of one in four US Olympians is less than $15,000. Team USA awards approximately $2.5 million in private grants annually.
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Here are the top five countries with the highest Olympic pay.
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 US pays medal winners
Gold: $38,000
Silver: $23,000
Bronze: $15,000
For the full chart, click here.
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