Olympic and Paralympic medals are presented during the medal unveiling of the Paris 2024 Olympic and Paralympic Games on February 1, 2024 in Paris, France.
Pascal Le Segretain | Getty Images Sport | Getty Images
The Paris 2024 Olympics are well on their way, with dozens of medals already awarded.
In addition to a medal, a stuffed toy of the Olympic mascot and a “mystery” box containing the official event postersome medalists receive additional financial rewards for their efforts.
While the International Olympic Committee does not award prize money for winning medals, several countries reward their athletes with medal bonuses.
Below are some of the payouts, based on information gathered by CNBC from national Olympic committees, sports associations and local reports.
The highest payouts
Hong Kong and Singapore offer the highest payouts for their Olympic winners.
Cash incentives for Hong Kong athletes competing in Paris marked a 20% jump from the Tokyo Summer Olympics. The Olympic gold medalists will receive HK$6 million ($768,000), Hong Kong Chief Administrative Secretary Chan Kwok-ki announced in early July. Silver and bronze Olympic medalists they will earn HK$3 million and HK$1.5 million respectively.
This year, the city is set for high earnings due to an early medal harvest in swimming and fencing. Vivian Kong won Hong Kong’s first medal at the Paris Games, taking the podium in the women’s individual epee event. Fellow fencer Cheung Ka-long also won gold in the men’s individual foil event, while swimmer Siobhan Bernadette Haughey won a bronze medal in the Women’s 200m freestyle.
Singapore gives Olympians 1 million Singapore dollars ($745,300) for gold, SG$500,000 for silver and SG$250,000 for bronze. The city-state has only handed out the top bonus money to one athlete: Joseph Schooling. The now-retired swimmer defeated Michael Phelps of the United States in the 100m butterfly at the 2016 Rio Olympics to win gold.
Singapore’s Joseph Schooling won Gold in the Men’s 100m Butterfly Final on Day 7 of the Rio 2016 Olympic Games.
Vaughn Ridley | Getty Images Sport | Getty Images
Other governments dangling six-figure cash rewards for their Olympic gold medalists include Israel, Malaysia, Kazakhstan and Indonesia. Israel is reportedly offering one million Israeli shekels ($270,537) for a gold medal, marking a 50% jump from what was offered for the Tokyo Games.
Host country France it has also reportedly increased its cash incentives. The gold medalists are expected to receive 80,000 euros ($86,528) — 15,000 euros more than they offered at the Tokyo Olympics.
Some extend the rewards to athletes outside of the podium places. Sports Aid Foundation Germany awards cash prizes up to eighth place in the Olympics. Olympic gold medalists receive 20,000 euros ($22,000).
of India Olympic athletes receive monetary rewards both by the government and its national sports body, according to local media. The government gives the gold medalists 7.5 million rupees ($90,000) while the Indian Olympic Association separately offers 10 million rupees ($120,000).
Cars, cows and apartments
In addition to or instead of cash, some athletes are expected to receive additional earnings such as apartments and cars from both governments and private companies.
According to information, the Olympic athletes of Kazakhstan he can win $250,000 for a gold medal, $150,000 for silver and $75,000 for bronze. The state is also sorry apartments in Olympianiki.
Local media reports the National Sports Council of Malaysia offers a reward of one million ringgit ($215,563) for individual Olympic gold medalists, while Olympic silver medalists they are expected to get 300,000 ringgit and the bronze medalists will be awarded 100,000 ringgit. Some private companies in Malaysia allegedly offered other incentives, such as e.g apartments with luxury service or extra cash.
It will be all the athletes who manage to finish on the podium given a “foreign-made car”, according to a local media report on the remarks of Malaysian Youth and Sports Minister Hannah Yeoh.
Olympic gold medalist Man Wai Vivian Kong of Team Hong Kong celebrates on the podium during the women’s individual Épée medal ceremony on the first day of the Paris 2024 Olympic Games at the Grand Palais on July 27, 2024 in Paris, France.
Defodi Images | Defodi Images | Getty Images
South Korean Olympians are awarded pensions in addition to prize money.
More than one An unexpected 63 million Korean won ($43,288), local media reported South Korea’s Olympic gold medalists are also given a choice of either a lifetime monthly pension of one million won, or a lump sum of 67.2 million won.
A silver medalist earns 35 million won and a bronze medalist earns 25 million won.
Some athletes could also receive other gifts, such as free drinks and transportation.
Hong Kong’s public transport operator MTR Corporation will give free lifetime tickets to the city’s Olympians, according to local media reports.
except 200,000 Polish zlotys ($50,374) From the Polish Olympic Committee, Klaudia Zwolińska will also reportedly receive a painting, a holiday voucher, a scholarship and a diamond for claiming silver in the women’s K1 canoe slalom race.
Olympians have often been given quirky tokens of appreciation.
A local chain has pledged to take in athletes who represented Malaysia at the Tokyo Games free food and tariq for life, according to local media. Teh tarik is a hot milk tea drink that is popular throughout Southeast Asia.
Japanese table tennis player Kasumi Ishikawa was given 100 bags of rice after winning a silver medal at the Tokyo Games. Indonesian badminton gold medalists Apriyani Rahayu and Greysia Polii reportedly bequeathed five cows, a meatball restaurant and a new house.
Athletes from Great Britain, Norway and a handful of other countries receive no direct cash bonus for placing on the podium.
Disclosure: CNBC parent NBCUniversal owns NBC Sports and NBC Olympics. NBC Olympics is the US broadcast rights holder for all Summer and Winter Games through 2032.
