how much is an olympic gold medalist paid
The U.S. Olympic Committee currently gives winners $37,500 for winning a gold, $22,500 for a silver and $15,000 for a bronze medal; Azerbaijan offered $510,000 to each gold medalist during the 2012 London Olympics. (Leon Neal/AFP/Getty Images). Asian Lifestyle The table below shows some of the top pay rates for gold medals from different countries. That said, those at the Phelps level have to send a good chunk of their payouts right back to Uncle Sam. Silver wins 50 million KZT ($150,000), while bronze gets 25 million KZT ($75,000). (Michael Phelps’ net worth is estimated at at least $50 million, and he didn’t earn that by giving swimming lessons on the side.) Most don’t do as well. That’s the most medals of any Olympian in history. Cash incentives however, vary from country to country, with some offering handsome cash bonuses while others opt to not give anything to their champions. With a minimum six grams of gold and a large chunk of silver, the pithy answer is about £450. If Ahn had the same medal count as Phelps, he’d have $2.48 million on Olympic prize money. However, Great Britain doesn’t award their athletes any money. Silver and bronze winners will get two billion rupiah, or $152,000, and one billion rupiah, or $76,000, respectively. While no one has won the prize yet, a few athletes have been rewarded for getting silver ($378,000) and bronze ($188,000). That Olympic medal money only goes to U.S. athletes as a bonus for winning. Phelps has taken 28 medals in all. Stefania Belmondo of Italy benefits from a similar lopsided pay scale. In South Korea, gold medalists receive 60 million won, or about $55,000. Asian Food Start typing to see results or hit ESC to close, A Singapore Billionaire’s Son Now Owns 49% of Rolling Stone, Meet EASTERN PEOPLE, a New Clothing Collective for Asian Cultures. A Singaporean athlete can get a whopping 1 million Singapore dollars, or $746,000, for winning gold under its Multi-Million Dollar Awards Program. It’s not onl… https://t.co/AdTG1xhSK8 pic.twitter.com/uB1fmd1KA1, — Ryan Lochte (@RyanLochte) July 27, 2016. For countries who have been struggling to clinch at least a gold or two, governments offer a much higher incentive. Asia Politics India announced that gold medalists will be rewarded with 10,000,000 Indian rupees, which is around $150,000. Listed below are the estimated sums for various countries. are awarded 5,000,000 Indian rupees, or about $75,000. What you may find interesting is that some of the lesser-publicized winners still get a payout from their country’s Olympic committee. Olympic medal money varies by country but in the U.S. athletes make $25K for gold, $15K for silver and $10K for bronze, plus millions in endorsements. The table below shows some of the top pay rates for gold medals from different countries. That can be anywhere from $510,000 per gold medal in Azerbaijan, $180,000 for an Italian gold medal champion, $135,000 for a Russian who takes home the gold or $19,500 for a gold medal winning German. Aside from the U.S. Olympic medal money bonuses in the table above, most other countries pay their own prizes. We’ve left out a lot of $200,000 and over bounties from somewhat smaller countries that have never won a gold medal in any sport. Pony Pie Is the Bourbon-Soaked Dessert Your Thanksgiving Table Needs, Steely Dan’s Cynical, Moody Masterpiece Hits Harder 40 Years Later, Wyatt Tee Walker Remembers the Last Secrets of Martin Luther King. The endorsements however only come to the cream of the Olympic crop, with athletes like phenom Michael Phelps scoring the most medals ever and the most endorsement deal riches. It's free. You Can Buy a $1 Detroit Home. How much does an Olympic gold medal cost? The private sector often adds cash prizes too, usually amounting to additional millions of Thai baht. On February 2, 2018, gold traded at $42.85 per gram and silver traded at $0.54 per gram, according to JM Bullion. Asian-American News 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. In Kazakhstan, gold medal winners reportedly receive 86 million Kazakhstani tenge, or around $250,000. Don't Buy a TV on Black Friday: 7 Reasons, Natalie Coughlin (USA Swimming 2004-2012), Stefania Belmondo (Italy Cross Country Ski 2002. That’s not strictly true, because it seems to say that all Olympic athletes make that money. However, South Korean coaches are actually awarded even more money than the athletes. / AFP PHOTO / Fabrice COFFRINI (Photo credit should read FABRICE COFFRINI/AFP/Getty Images), Germany’s gold medallists, Laura Ludwig (L) and Kira Walkenhorst, celebrate on the podium at the end of the women’s beach volleyball event. Get InsideHook in your inbox. Asia Travel Hi Steve. Despite being on the low-end of the per-medal Olympics money scale, U.S. athletes seem to take home more than their share of the loot. Jamaica’s Usain Bolt has made over $8 million each year for his deal with Puma. And awesome. Please keep in mind that the dollar amounts may fluctuate based on exchange rates. (Not always, though: Here’s looking at you, United Kingdom.) For the top countries participating in this year’s Rio Summer Olympics, a gold medal can fetch a handsome reward. 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. They don’t. U.S. Olympians, for example, will earn $37,500 for each gold medal they win this year, $22,500 for each silver and $15,000 for each bronze… Some websites erroneously report that Olympic athletes make $25,000 for a gold medal, $15,000 for a silver and $10,000 for a bronze. The very top athletes however get big, big sponsor deals. U.S.: $37,500 (It was increased from $25,000 after 2016 and there is now a tax exemption on winnings for athletes without elite earning power. Azerbaijan, $180,000 for an Italian gold medal champion, $135,000 for a Russian who takes home the gold or $19,500 for a gold medal winning German. @poloralphlauren "Ryan is the most natural swimmer I’ve ever seen. All rights reserved. Instead, they get their face on a stamp, but they may receive sponsorship contracts worth more than most higher paying countries. That’s still only a small portion of the money Phelps has made, Kim Kardashian can turn a leaked sex tape into a multi-million dollar career, estimated $94 million in endorsement deals since 2001, Usain Bolt has made over $8 million each year, 14 Restaurants Open Thanksgiving Day 2016, Bill Clinton Net Worth: Hanging on His Words.
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