At the Paris 2024 Olympics, medalists aren’t just winning gold—they’re striking it rich! Countries like Hong Kong and Singapore offer huge cash bonuses, with some athletes earning nearly a million dollars for a gold medal. But the rewards don’t stop there: winners can also score luxury apartments, cars, and even quirky gifts like free lifetime transportation or a herd of cows. These incredible incentives reveal just how valuable Olympic glory can be, turning athletes into instant millionaires and showcasing the extraordinary prizes hidden behind those shiny medals.
The 2024 Olympics in Paris are underway, with numerous medals having already been awarded.
Some medalists receive additional financial incentives for their accomplishments in addition to a medal, a stuffed toy of the Olympic mascot, and a “mysterious” box holding the official event poster reports CNBC.
Although the International Olympic Committee does not award medal winners with cash prizes, several nations do offer medal bonuses to their competitors.
Based on data gathered by CNBC from national Olympic committees, sports associations, and local publications, the rewards are listed below.
Olympic medal bonuses
Here’s how much money athletes get for finishing on the podium.
| Country | Gold | Silver | Bronze |
|---|---|---|---|
| Australia | $13,000 | $10,000 | $7,000 |
| France | $87,000 | $43,000 | $22,000 |
| Germany | $22,000 | $16,000 | $11,000 |
| Hong Kong | $768,000 | $384,000 | $192,000 |
| Indonesia | $300,000 | $150,000 | $60,000 |
| Israel | $271,000 | $216,000 | $135,000 |
| Japan | $32,000 | $13,000 | $6,000 |
| Malaysia | $216,000 | $65,000 | $22,000 |
| Poland | $25,000 | $19,000 | $14,000 |
| Republic of Kazakhstan | $250,000 | $150,000 | $75,000 |
| Singapore | $745,000 | $373,000 | $186,000 |
| South Korea | $45,000 | $25,000 | $18,000 |
| Spain | $102,000 | $52,000 | $33,000 |
| United States | $38,000 | $23,000 | $15,000 |
Largest Payments
Payouts for Olympic winners are higher in Hong Kong and Singapore.
Athletes from Hong Kong who are competing in Paris will receive 20% more money than they did in the Tokyo Summer Olympics. Chan Kwok-ki, the chief secretary for administration in Hong Kong, declared early in July that the gold medalists would earn 6 million Hong Kong dollars ($768,000). The prize money for the silver and bronze medalists is HK$3 million and HK$1.5 million, respectively.
The city is expected to get large rewards this year as a result of an early crop of fencing and swimming medals. In the women’s epee individual event, Vivian Kong took first place on the podium, earning Hong Kong’s first medal at the Paris Games. In the men’s solo foil competition, fellow fencer Cheung Ka-long also took home the gold, and in the women’s 200-meter freestyle, swimmer Siobhan Bernadette Haughey took home the bronze.
Singapore awards gold medalists $1 million Singapore dollars ($745,300), silver medalists SG$500,000, and bronze medalists SG$25,000,000. Only one athlete, Joseph Schooling, has received the highest financial bonus from the city-state. The now-retired swimmer won gold in the 100-meter butterfly at the 2016 Rio Olympics by defeating Michael Phelps of the United States.
Some governments, including those in Israel, Malaysia, Kazakhstan, and Indonesia, are offering six-figure cash incentives to their gold medal winners. A gold medal is apparently being offered by Israel for a million Israeli shekels ($270,537), which is 50% more than what was given at the Tokyo Games.
According to reports, the host nation, France, has increased its financial incentives. Gold medal winners will get 80,000 euros ($86,528), which is 15,000 euros more than what was given out at the Olympics in Tokyo.
Athletes who place outside of the podium can also receive awards. Cash awards are given out by the German Sports Aid Foundation to Olympic competitors who place seventh or above. Winners of gold medals are awarded €20,000.
Local media reports that India’s national sports body and government both provide financial incentives to their Olympic players. The Indian Olympic Association individually grants 10 million rupees, while the government gives gold medalists 7.5 million rupees ($90,000).
Vehicles, Livestock, and Properties
Some athletes may earn prizes from governments and commercial companies in addition to or instead of cash, such as automobiles and residences.
Olympic athletes from Kazakhstan are supposedly eligible to receive $250,000 for a gold medal, $150,000 for a silver, and $75,000 for a bronze. Medalists often receive apartments from the state.
Local media reports that Malaysia’s National Sports Council is providing a reward of 1 million ringgit ($215,563) to individual gold medalists, while silver medalists will receive 300,000 ringgit, and bronze medalists will be awarded 100,000 ringgit. Additionally, some private companies in Malaysia have reportedly offered extra incentives, including luxury serviced apartments or additional cash.
According to local media citing comments from Malaysia’s youth and sports minister, Hannah Yeoh, all athletes who achieve a podium finish will also receive a “foreign-made car.”
Medalists from South Korea receive pensions in addition to their awards.
According to local media, South Korea’s gold medalists receive a windfall of 63 million Korean won ($43,288) in addition to a lifetime pension of one million won, or a lump amount of 67.2 million won.
A bronze medallist receives 25 million won, while a silver medallist receives 35 million won.
Athletes may also be given free refreshments and transportation, among other perks.
The city’s medalists will receive free lifetime tickets from MTR Corp, the public transportation operator in Hong Kong, according to reports from the local media.
Klaudia Zwolińska won silver in the women’s canoe slalom K1 category and is supposedly going to get 200,000 Polish zloty ($50,374) from the Polish Olympic Committee in addition to a painting, a holiday voucher, a scholarship, and a diamond.
Olympians have frequently received amusing gifts as gifts from the public.
According to local media, a local chain promised free meals and teh tarik for life to athletes who represented Malaysia in the Tokyo Games. Popular throughout Southeast Asia, teh tarik is a hot milk tea beverage.
After winning a silver medal at the Tokyo Games, Japanese table tennis star Kasumi Ishikawa received 100 bags of rice as a present. Apriyani Rahayu and Greysia Polii, the gold medallists in badminton from Indonesia, have reportedly received a new house, a meatball restaurant, and five cows as bequests.
There is no direct financial incentive for podium finishers from the United Kingdom, Norway, and a few other nations.
Last month, GreatGameInternational reported that hosting the Olympics, as seen with Paris 2024 and Los Angeles 2028, often sparks debates about its true economic impact. Despite grand promises, the Games frequently strain city budgets, leaving taxpayers to foot hefty bills.
