Olympic athletes don’t receive payment for competing, but winning often comes with rewards from their home countries.
This year, the U.S. Olympic Committee is awarding $37,500 for each gold medal, $22,500 for silver, and $15,000 for bronze. These amounts are relatively modest compared to other nations.
Serbia tops the list, offering $214,000 per gold medal. Despite having only two gold medals so far, their payouts are significantly higher than those of the U.S. Malaysia and Morocco also offer substantial rewards.
On the other end of the spectrum, Australia provides the lowest payout at $13,340 per gold medal.
In 2021, Singapore had a $737,000 reward for gold medals, but they didn’t win any medals that year. Their last medal was a gold in the men’s 100m butterfly in 2016.
Gymnast Carlos Yulo from the Philippines recently became his country’s first male gold medalist. In addition to government rewards totaling about $450,000, he is receiving private sector gifts such as a condo, a house, and free food for life.
As for the medals themselves, their material value is relatively low. Gold medals haven’t been made of pure gold since 1912 and are now 95.4% silver, worth about $950. Silver medals are valued at $486, and bronze medals are worth only $13 as scrap. However, all the medals contain original iron from the Eiffel Tower, adding a unique historical touch.