However, if an athlete earns a medal, there is a medal bonus attached to it. . Outside of the major sports, and those athletes that have high profiles, a lot of these athletes really struggle financially, Dr. Tim Baghurst, the head of the Interdisciplinary Center for Athletic Coaching at Florida State University, told WUSA9. Kosovo is a newcomer to the Olympic scene, competing at just its second Winter Games with a contingent of two skiers, Kiana Kryeziu and Albin Tahiri. Its free! The sporting economy in the U.S. allows athletes to better monetize their talents as most of it is driven by the private sector, according to Unmish Parthasarathi, founder and executive director at consulting firm Picture Board Partners. The United States pays a handsome fee per medal: $37,500 for each gold medal, $22,500 for each silver medal, and $15,000 . China: $31,400. To date, though, athletes have always received the maximum, the government says. Lithuanias government anchors its medal bonuses to the countrys basic social benefit, a monthly amount used in various social security calculations. Some countries, like the U.S., pay out equal amounts to individual-sport and team-sport athletes while other countries offer less to groups. This is on top of the grants and benefits like health . The Philippines clinched its first ever gold medal in Tokyo this week, making Filipino weightlifter Hidilyn Diaz the country's first Olympic gold medalist. Son only had to attend basic training, which was doable during the English Premier Leagues offseasonrather than fulfill the full-length of the typical 21-month military requirement, which would have put him in breach of his contract with his club, Tottenham Hotspur. But the select few who are able to scale the podium339 sets of medals are set to be awarded at the Tokyo Games, across 33 sportsmay find that their countries are willing to make it all worth their while. 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. (In the team events, medalists divide up larger pots of money.) However, if an athlete earns a medal, there is a medal bonus attached to it. Ahead of the Games, Forbes reached out to the national Olympic committees or government sports ministries of all 91 countries and territories set to compete and was able to confirm that at least 32 will pay cash prizes for medals; only four of the respondents do not plan to pay their athletes some sort of bonus explicitly for winning medals. Given the cost of training, financial support for athletes needs to come from other places . Beijing individual gold medalists are entitled to 3,049 BSB, or about $143,000 at the current level. The self-proclaimed "Shot Diva" just became the first American woman to win shot put at the Olympics, and set a new national record. Russia was runner-up with a $135,000 golden bonus, and France. Most teams have corporate or private sponsors who pay for the Olympians' costs. For the Tokyo Olympics, Italian gold medalists receive 180,000 for their victory, with smaller prizes for silver and bronze. To read and save unlimited articles, sign up to become a GH+ member. The 25th percentile is $29,500, as determined by Forbes. Some, like U.S. badminton player Zhang Beiwen, reportedly relied on crowdsourcing to finance their trip to Tokyo. Follow The Money, Jenna Dewan Has Legs, Butt In Pole Dancing IG. That said, those at the Phelps level have to send a good chunk of their payouts right back to Uncle Sam.) What is known is the amount athletes will make if the win a medal in Tokyo. This is very common with medal-winning Olympians. Got it. As the Beijing Winter Games get underway, Your Privacy Choices: Opt Out of Sale/Targeted Ads. A company covers some of their athlete's expenses in exchange for its logo on the athlete's uniform. UK Sport's funding for Olympic and Paralympic sport for the Tokyo cycle is 374 million, with 69 per cent from Lottery money, and 31 per cent from the government. Athletes can sign personal sponsorship deals to earn money apart from winning medals. 2K Sports and Nike sponsor Kevin Durant, who rakes in $40 million in sponsorship money every year. Some countries absolutely pile on the cash. A Division of NBCUniversal. Dozens of countries are offering bonuses to athletes who claim one of the 327 medals available across the 15 sports at the Beijing Olympics, which officially kick off with todays opening ceremony. More than half of U.S. Olympic hopefuls, or 59%, reported making less than $25,000 during the year of their respective Olympics, according to a COVID-19 impact survey distributed to 4,400. The data showed the U.S. Olympic and Paralympic Committee rewards its athletes $37,500 for every gold medal won, $22,500 for silver and $15,000 for bronze. Multiple Korean athletes have already earned themselves a pass in Tokyo: 17-year-old Kim Je-deok, who won multiple medals in the archery competition; the gold-winning fencers on the mens sabre team; and gymnast Shin Jea-hwan, who took home the gold in mens vault. Copyright 2023 Sporting News Holdings Limited. However, the Olympic Committee tends to pay for most of the expenses, such as food, accommodation and transportation. How Olympians make money, explained. [21] The programme's name was changed to Major Games Award Programme (MAP) in 2018. What you stand to earn by grabbing medals: $20,000 - Olympic gold medal. Somewhere in the middle, the US Olympic and Paralympic Committee pays members of Team USA $37,500 (26,975) for each gold medal, $22,500 (16,185) for every silver, and $15,000 (10,790) for a . How much are Olympic athletes paid for winning gold medals? Something like a $250,000 earning turns into $125,000 really quick. Grizzlies superstar Ja Morant finds himself the subject of controversy yet again after an early morning social media post appeared to show Morant holding a gun inside a club. Then there are countries like Greece and Bosnia and Herzegovina, which plan to award bonuses to any athletes who earn medals but will wait until after the fact to determine the exact amounts. "You want it to just be about the competition," he told CNBC, "but. The 34-year-old rower competed in the men's eight, but he also works as a chemical engineer. . Still, these exemptions can be critical for prolonging an athletes career. Athletes don't get paid for taking part in the Summer or Winter Olympic Games, but do tend to receive a monetary reward from their country's Olympic committee if they win a medal. Clement's got a few more famous moves than the 400-meter hurdles. It's safe to assume most Olympic athletes compete for the love of the game. You might assume Olympic athletes live in the gym or make $$$ purely through major endorsement deals, but back on American soil many of them have cubicles and coworkers just like you (and if you work at Deloitte or Dick's Sporting Goods, you might even be one of them). Russia . HK$5,000,000, HK$2,500,000, HK$1,250,000, for Gold, Silver, and Bronze, respectively. It can literally be you have a huge following on Instagram, or you can just be so good that it's undeniable. KYIV, Ukraine (AP . Monica won bronze at the Rio 2016 Olympics. The path to the 2024 Paris Olympics for Ukrainian athletes is clouded by war, anger and pain. Malaysian gold medalists receive roughly $1,200 in monthly payments for life, Estonian winners receive 4,600 a year, and Indonesian champions get an $18,000-a-year retirement plan. Most athletes who compete at the Olympics can only hope to break even as they hunt for modest stipends and scarce sponsorships that often dont cover the costs of years of training, equipment, medical and travel expenses. Malaysian gold medalists receive roughly $1,200 in monthly payments for life, Estonian winners receive 4,600 a year, and Indonesian champions get an $18,000-a-year retirement plan. The rewards actually trickle down below the podium spots, with Olympic athletes who finish seventh or eighth in their events still claiming 900,000 New Taiwan dollars ($32,000)almost as much as an American gold-medal winner. Although the medal bonuses help, it is not enough money to live off of, especially when the Olympic Games only occur every four years. 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. As a result, some countries have instituted government-backed incentives for medal winners, to encourage greater participation and, in turn, the drive to win national bragging rights. Some changes have been made to get more money in the hands of the athletes. Good old spon-con helps many athletes make it big. By JOHN LEICESTER - Associated Press. Hidilyn Diaz of Team Philippines competes during the Weightlifting - Women's 55kg Group A on day three of the 2020 Olympic Games at Tokyo International Forum on July 26, 2021 in Tokyo, Japan. Data is a real-time snapshot *Data is delayed at least 15 minutes. Do Olympic athletes get paid? Some of the Korean public wonder if too many athletes are gaining exemptionsskepticism that the Washington Post found was even more marked when the program was extended to specific finishes in the World Cup and other athletic events. Per NBC, U.S. Olympic winners get $37,500 for winning gold, $22,500 for winning silver, and $15,000 for winning bronze. They also depend on the athlete's popularity. Olympians typically receive monetary, and sometimes non-monetary, rewards from their countries for winning a place on the podium. Like Indonesia, the Malaysian government gives medalists both a one-time payment and a monthly allowance: an upfront check of roughly $237,000 for gold, $71,000 for silver or $24,000 for bronze. We have a law for that", "Hidilyn won't be taxed; What about other athletes? For most athletes, it's not enough. The U.S. payout structure is similar to other countries in the Americas like Brazil and Chile, which offer financial incentives in the tens-of-thousands range. And gymnast Simone Biles no doubt makes a massive chunk of change from her deals with Uber Eats, Nike, Visa, and more. [24][25][26], Prior to the RA 10699, standard government incentives are codified under the RA 9064 or the National Athletes, Coaches and Trainers Benefits and Incentives Act of 2001 which mandates a prize money of 5 million for Olympic gold medalists, 2.5 million for silver medalists and 1 million for bronze medalists. Narrator: And those bonuses are only up for grabs every four years when the Olympics come around again. A vault maneuver was even named after him. The World Athletics Championships are the largest event in track and field, and this year, almost 2,000 competitors from 192 countries are in Eugene, Oregon, to win medals, set records, and earn . Instead, their income comes from a bunch of different revenue streams. The U.S. Olympic Committee pays $37,500 for a gold medal, $22,500 for a silver, and $15,000 for a bronze. Incentives by Country (USD equivalent in 2021) Countries Gold Silver; Philippines: $200,000: $100,000: Russia: $61,000: $38,000: Serbia: But, if they do well at the games the athletes can make some serious money. And like other countries including. Lauryn: When sponsors and brands are looking at athletes, they're looking at marketability, the return on investment they're going to get. She was the first American woman to win medals in both the Summer and Winter Olympics. This year, athletes will receive up to 142,288 (roughly $159,000) per gold in individual sports, and teams will receive up to 426,862 ($477,000) to divvy up. Canada is not the only country to reward their Olympic athletes for earning medals. $5,000 - Top 5 position in World Championship. Silver medalists get $22,400, while bronze medalists get $15,000, as per Forbes. Spending around a month in the Olympic village can be costly for Olympic athletes. Basically, their wealth depends a lot on their side hustles. NBA, I mean, we don't even have to cover that one. And then you also have to pay taxes. Taiwanor Chinese Taipei, as it is known at the Olympicsis already on the hook for one big payment this year: Weightlifter Kuo Hsing-chun set Olympic records in the womens under-59-kilogram division to claim gold. Most teams have corporate or private sponsors who pay for the Olympians' costs. Aaron: It kind of puts a chip on my shoulder to go even harder, to compete at the best and compete with the best so that I can take myself out of this position. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Twenty-seven times over, yes, yes, and yes. Bobsled is a much smaller Olympic sport, and so there's three medals that we can earn. 958 in the worldquite a drop-off for someone who ranked as high as 26th during his career. For example, speed skater Mitch Whitmore said he received a nine-month stipend that paid for his training and living expenses after finishing fourth in a 2017 competition. ZipRecruiter has a payroll of $26,499,880,000. While the International Olympic Committee does not pay prize money to medalists, many countries offer monetary rewards to their athletes for the number of medals they win at the Olympics. Of course, athletes only win medals once every four years. Plus, there are also hefty costs associated with competing at this level. How much does Russia pay for Olympic medals? We get a stipend, and it is $300 a month. Among the most generous nations is Turkey, which is willing to pay roughly $380,000 for a gold medal. Not how to swingI forgot how to play golf. Soccer star Son Heung-min got an exemption, too, after the South Korean national soccer team won the gold medal at the 2018 Asian Games. Bangladesh, which has never won an Olympic medal, has pledged to pay about $300,000 for gold, about $150,000 for silver and about $100,000 for bronze, according to an official at the national Olympic committee. Individual-sport athletes from Bulgaria are eligible to receive up to about $143,000 per gold medal, depending on the budget of the Ministry of Youth and Sports. Most of that prize money is not taxable unless athletes report gross income that exceeds $1 million. Maggie: You know, a lot of girls on our team are coaches. As the Beijing Winter Games get underway, plenty of athletes will be competing for medals, honor, andas it turns outlots of money. There are equipment costs, coaching costs, training costs, medical costs and more, leaving athletes to scrounge for cash from sponsors and grants. These logos will appear on the athletes' clothing during non-Olympic competitions, though. Like most of the 11,000 athletes competing at the Tokyo Olympics, Cheung Ka-long was facing long odds. I never earned less than $250,000. Hell soon collect gold of a different kind: The territorys government rewards its Olympic athletes with 5 million Hong Kong dollars ($643,000 at the current exchange rate) for gold medals in individual events. We pay to our very top athletes around $4,000 a month, plus performance bonuses. Russian athletes who won gold medals at the Sochi Winter Olympics have each been rewarded with a Mercedes GL-Class SUV worth $146,500. Some countries, mostly those who win very few medals, are much more generous with their prize money, according to moneyunder30.com. The country sent only 23 athletes to Tokyo. Narrator: Many athletes have turned to crowdsourcing to supplement their incomes. Even if it was half the income, I don't think that I would for regret one moment having participated in sport. And in 2020, the USOPC launched the Athlete Marketing Project, which better connects athletes with sponsors. For example, snowboarder Chloe Kim signed with Nike, meaning she can appear on their advertisements. In Slovenia, Olympic gold medalists can collect through both routes: about $22,000 from the national Olympic committee and roughly $62,000 per gold medal from the government. Its not the only country that offers additional pay for a record breaker. $10,000 - Olympic bronze medal. review process. How much money do Olympic athletes get paid? Few feats in sports earn athletes as much glory and respect as winning an Olympic medal. Here are ten countries that offer six-figure rewards for Olympic gold medalists. Additionally, Olympians can receive an athletic grant or part-time job through the Olympic Job Opportunities Program. For most athletesaside from a few highly paid Olympians like Kevin Durant and Naomi Osakacompeting at this elite level is a financial struggle. 25 Collectibles That Could Be Worth Big Bucks. Phoenix Petroleum is also honoring her medal with free fuel for life. Another source of income is through endorsement deals. And the San Miguel Corporationa large Filipino conglomerateannounced in mid-July that it would match the governments donation amount for every gold medalist. But Diaz isnt just getting this payday. As the most decorated Olympian of all time, Phelps has earned major endorsement deals with companies like Visa and Under Armour. Olympic athletes do not get paid by just attending the Olympic Games. We are the only major country in the world, and one of very few countries period, where the government does not get involved in funding its Olympic team. ", "BIR answers tax issues on Hidilyn Diaz's Olympic winnings", https://en.wikipedia.org/w/index.php?title=Incentives_for_Olympic_medalists_by_country&oldid=1138011304. Weve been independently researching and testing products for over 120 years. But that money doesn't come from the International Olympic Committee. How much do Olympic athletes get paid? .css-26w0xw{display:block;font-family:NationalBold,Helvetica,Arial,Sans-serif;font-weight:bold;margin-bottom:0;margin-top:0;-webkit-text-decoration:none;text-decoration:none;}@media (any-hover: hover){.css-26w0xw:hover{color:link-hover;}}@media(max-width: 48rem){.css-26w0xw{font-size:1.18581rem;line-height:1.2;margin-bottom:0.625rem;}}@media(min-width: 40.625rem){.css-26w0xw{line-height:1.2;}}@media(min-width: 48rem){.css-26w0xw{font-size:1.28598rem;line-height:1.2;margin-bottom:0rem;}}@media(min-width: 64rem){.css-26w0xw{font-size:1.575rem;line-height:1.1;margin-bottom:-0.5rem;}}Jenna Dewan Has Legs, Butt In Pole Dancing IG, Sharon Stone, 64, Flaunts Abs In String Bikini IG, Madelaine Petsch Frees The Nip With Epic Abs On IG, Kerry Washington Is So Toned In Naked Dress Photos, Simone Biles Has A Toned Butt In Bikini IG Pics, Riley Keough Flaunts Her Abs In A Crop Top On IG, Elizabeth Hurley Has A Toned Butt In A Bikini IG, Elsa Pataky Rocks Curly Hair And Epic Legs On IG, Halsey Has Sculpted Abs In Nipple-Baring Dress Pic, Madonna Has Legs In Fishnets In IG Pics, Christina Hendricks Flaunts Strong Legs In IG Pics, Gisele Bndchen Shared Her Yoga Moves In New IG. The 19-year-old phenom passed up on sponsorship deals in order to swim for Stanford this fall, but she'll still accept hundreds of thousands in prize money for her six medals. The U.S. only pays out $37,500 to gold medal winners, $22,500 for silver, and $15,000 for bronze. Although the medal bonuses help, it is not enough money to live off of, especially when the Olympic Games only occur every four years. But a recent global study of 500 elite athletes found that nearly 60% did not consider themselves financially stable. It really set me back financially. Swimming, there's a lot of money, gymnastics, there's a lot of money. And Hong Kong, which competes at the Olympics independently of China, is promising the equivalent of $642,000. Only GH+ members can save this article. It's now up to $30,000. It gives medalists a lifetime allowance starting at age 45: 100% of the average net salary in the country for gold medalists (roughly $1,100 in 2021), falling to 80% for silver medalists and 60% for bronze. Eighth place is worth 153 BSB, or about $7,000. Polish ski jumper Dawid Kubacki claimed bronze in the men's normal hill individual, earning him a bonus of. In Hungary, even bronze medalists receive nearly six figures in bonuses: 28.5 million forints, or roughly $89,000. The U.S. lands in the middle of the pack on the global medal-bonus spectrum, based on Forbes reporting, paying more than twice as much for gold as countries like Australia and Canada and roughly half as much as nations like France and Romania. This is just the second Winter Games for Malaysia, which will be represented by skiers Aruwin Salehhuddin and Jeffrey Webb. Others draw regular salary by holding a variety of jobs. Unlike countries such as the UK or Singapore, American Olympians don't get paid to attend the Olympics. Or steeplechase. A Kazakhstan government official announced this month that gold-medal winners would receive$250,000, silver medalists $150,000 and bronze medalists $75,000. If competitors have an audience of a few million followers, that's usually enough to attract advertisers' interest. Narrator: But most athletes have to take on part-time work. Struggling to get a decent living, Zhang remained homeless and. Yahoo Finance reports that those delicious prizes remain on offer in Tokyo. But the moves haven't been sweeping enough. But many Olympic medalists. But, due to the nations massive doping scandal, medalists wont get to hear their national anthem when they scale the podium. He also fought Robert "The Ghost" Guerrero in 2013, earning at least $32M (guaranteed) for that fight, excluding pay-per-view fees. Athletes who win gold receive 1 million ringgit ($236,149), while silver winners are awarded 300,000 ringgit, and 100,000 ringgit is given to athletes who win bronze. As of Friday night, Singapore was not among the 70 countries that had scored a medal at these Games, but it could contend in the womens team table tennis event next week. A gold medal is worth $37,500, a silver medal is worth $22,500 and a bronze medal is worth $15,000. Lauryn: During the course of my career, I was really fortunate. According to the USOPC website, U.S. Olympians will earn $37,500 for each gold medal at the 2020 Olympics, $22,500 for a . For example, snowboarder Chloe Kim signed with Nike, meaning she can appear on their advertisements. I feel like I am one of the best in America. There are a few different types of sponsorships Olympic athletes can sign with. Narrator: Things have shifted a bit to help athletes. Olympic athletes do not get paid by just attending the Olympic Games. The monthly cost ranges from $3,810 to $8,208, while the yearly cost ranges from $53,500 to $60,999. And then there was training facilities being shut down. Sixty percent of elite athletes don't consider themselves financially stable. Here's How To Shop The Dyson Airwrap Restock, 15 Best Amazon Deals to Shop This February, Saatva Just Extended Its Presidents' Day 2023 Sale, 14 TikTok Cleaning Products That Actually Work, The Best Post-Presidents' Day Deals to Shop Now, The Best Amazon Presidents' Day Deals of 2023, 20 Best Presidents' Day Mattress Sales of 2023, The Best Presidents' Day Furniture Deals of 2023, Weve been independently researching and testing products for over 120 years. The U.S. Olympic and Paralympic Committee rewards athletes $37,500 for every gold medal won, $22,500 for silver and $15,000 for bronze. Here, we dive into the math behind 15 Olympians' take-home pay, from hourly wages to multi-million-dollar salaries. Russia certainly has a great deal to celebrate, delivering an exciting and well-run event while finishing atop the medal count in both the number of medals (33) as well as gold garnered (13). Olympic champions also receive an allowance of about $1,400 a monthfor life. Heres what winners around the world can take homealong with their gold, silver, or bronze. Kosovo's Nora Gjakova after defeating Japan's Tsukasa Yoshida in a judo semifinal bout on July 26. However, the Olympic Committee tends to pay for most of the expenses, such as food, accommodation and transportation. Though again, most of these earnings do not come from medal prizes. Only includes payout from U.S. Olympic Committee, some organizations such as USA Swimming and USA Wrestling award additional bonuses. While its Ministry of Culture, Sports and Tourism will give the equivalent of $39,000 to a gold medalist in a team event and $52,000 to an individual champion, a head coach can take home even more, up to $66,000. 2023 CNBC LLC. . Just like a game show or the lottery, the winnings on Olympic medals are . 11 on this list for giving its Olympic gold medalists a lifetime allowance of 4,600 euros per year ($5,500), with additional support as they approach retirement age. But now, athletes' sponsors can run certain ads during the Rule 40 period. Ecuador set a $100,000 reward for any athlete who could win goldso congrats to champion road cyclist Ricard Carapz on his new stacks. Indonesia's Aflah Prawira competing in a heat for the men's 1,500m freestyle on July 30. Athletes who win gold in the Beijing Olympics receive 50,000,000 Hungarian Forint, or roughly $161,000. She went into credit card debt because of me. Lauryn: The USOPC has something called Operation Gold. Athletes have to go out and get their own sponsors. Get this delivered to your inbox, and more info about our products and services. But countries bonus schemes can differ in ways other than the amount. Incentives by Country (USD equivalent in 2021) Countries Gold Silver; Russia: $61,000: $38,000: Serbia: $71,210: $59,342: Singapore: $737,000: All rights reserved. While medal bonuses are the domain of national Olympic committees in many countriesalbeit sometimes with government backingother nations cut out the middleman and disburse the bonuses directly through their sports ministry or another government agency. At the same Olympiad, German medalists got a lifetime supply of beer, and Belarusian winners received a stockpile of sausage. 11 Best Parenting Books for New Moms and Dads, 12 Best LED Face Masks to Zap Acne and Wrinkles. Still, many athletes aren't at the Simone Biles or Lindsey Vonn level of fameand that makes scraping together an income much harder. Here's a look at how much money medalists from 12 countries could take home, based on data compiled by CNBC from various national Olympic committees, sport associations as well as personal finance site Money Under 30. 100,000, 70,000, and 45,000, for Gold, Silver, and Bronze, respectively. Olympic athletes train for years at a time, competing in various events ahead of the Winter Olympics. Everything was shut down. (You can exhale, taxpayers.). New rules approved last year from USA Track & Field, the sport's national governing body, set aside $10,000 for any . In Rio, the first-time Olympian earned a bronze in the men's light flyweight event. The MTR Corporation (Hong Kongs transit rail operator) is also providing the winner with a lifetime of free train rides around the city. free lifetime flights on AirAsia Philippines. They are from endorsement deals. The synchronized swimmer landed a part-time job at Dick's Sporting Goods, which hires Olympians and Olympic hopefuls as part of its Contenders program. So if I can do that while I'm at one point working two jobs and DoorDash and everything like that, then I can't imagine what I can do if I didn't have to do that. The same year, the amount for Paralympic Games. The data showed the U.S. Olympic and Paralympic Committee rewards its athletes $37,500 for every gold medal won, $22,500 for silver and $15,000 for bronze . Not every country offers financial compensation explicitly for medal winners. This is a BETA experience. If you're on the Burton team you're probably getting a salary and most expenses paid. Most of that prize money is not. The dominant Team USA, meanwhile, will pay $37,500 for each gold medal, $22,500 per silver and $15,000 per bronze. US athletes striving toward the Olympics are generally left to their own devices in terms of funding training and travel for most of their careers, and even once they reach the top tier, they. This year, athletes will receive up to 142,288 (roughly $159,000) per gold in individual sports, and teams will receive up to 426,862 ($477,000) to divvy up. Payments to U.S. athletes in the Olympic and Paralympic Games are currently set at. Malaysia also has hefty rewards for its Olympic winners. A lot of them have part-time drop jobs and it's only in the Olympics where we really, really see them shine.. South Koreas podium prize might be the most practical: The country enforces one of the worlds longest forced military service conscription policies in the world. How Olympians make money, explained. mandatory military service following their training. I started driving for DoorDash. (Update, February 7: On top of that big prize, the Sports Federation & Olympic Committee of Hong Kong offers smaller rewards of its own, including the equivalent of $1,900 for gold.). Sign up for free newsletters and get more CNBC delivered to your inbox. Cheung Ka-long, a fencer, won gold in mens foil in Tokyo, earning 5 million Hong Kong dollars (about $642,000 at the current exchange rate) under the citys Henderson Land Commendation Scheme for Elite Athletes. And nothing could be further from the truth. Team-sport athletes receive smaller bonuses from the National Sports Agency than the $110,000, $82,000 and $55,000 that individual-sport athletes get for gold, silver and bronze medals, respectively. Thats a lot of green: The Italians won 28 medals at the 2016 Games, the ninth-most among all countries, and have 20 medals in Tokyo, good for seventh on the table as of Friday night.
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