What Different Countries Pay Athletes for Olympic Gold Medals


The worth of a medal from the Olympics relies upon quite a bit on what nation you signify. Whereas all of the medals have the identical worth relating to the dear metals which can be within the medals (Gold: $566, Silver: $325, Bronze: $3), the money rewards that totally different nations give their athletes who win varies by tens of hundreds of {dollars}.

The High 5 Bonuses By Nation

Singapore

The nation that gives the largest reward for an Olympic gold medal is Singapore. Any Singaporean who is ready to win gold can be $1,000,000 richer. There are 25 athletes from Singapore competing within the Tokyo Olmpics.

Indonesia

Indonesia affords a bonus price $746,000 for a gold medal, however like Singapore, it has 37 athletes competing within the Toyko video games. Lots of their athletes are competing in Badminton and weightlifting.

Kazakhstan

Any Kazak athlete that wins the gold will get a bonus of $250,000. A silver medal is price $150,000 and the Bronze is price a $75,000 bonus. Whereas these numbers are large, Khazkastan has 97 individuals and never all of them will win, so Kazakstan might not have to pay numerous bonuses.

Azerbaijan

Azerbaijan first participated within the Olympic video games as an unbiased nation in 1996, and has despatched athletes to compete yearly since. Azerbaijan pays a hefty $248,000 bonus for the gold, and equally wholesome bonuses of $124,000 and $62,000 for the silver and bronze respectively.

Italy

In contrast to the opposite nations on this checklist, Italy has a protracted historical past of taking part efficiently within the Olympics. The Italian Olympic committee began in 1908 and was formally acknowledged in 1913. As of 1996, Italy was probably the most profitable nation on this planet at fencing. Italy pays a bonus of $166,000 for gold, $83,000 for silver and $55,000 for bronze medals.

There are many different nations that supply six figures to their athletes for being on prime of the rostrum. Hungary affords $125,000 for a gold medal with and Russia, France the USA all pay 5 determine bonuses for medals.

The Backside Of The Checklist

By comparability, the bonuses provided by Canada and Australia are downright stingy. A gold medal for a Canadian athlete will imply a $15,000 bonus, whereas a silver will usher in $11,000 and a bronze will internet $8,000.

And, In contrast to many different nations, the US taxes these bonuses which may imply that as a lot as 39.6% will find yourself going again to the IRS.

In fact, the money bonuses may be solely a small fraction of the particular price of an Olympic medal received, particularly a gold medal. Gold (in addition to silver and bronze) can usually imply profitable endorsement and promoting offers that may be price lots of of hundreds of {dollars}, if no more. A lot of this will depend on the nation and in what occasion the medal comes, nevertheless it’s usually these offers that convey probably the most cash from successful an Olympic medal.

However greater than what they make is what we can learn from these athletes, with every part they do, all of the work they do. What a tremendous feat it’s for them to win the gold.





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