How Much Is Winning Gold Worth? Here's Which Countries Pay Their First Place Olympians Six-Figures

Ahead of the Paris Olympics, Forbes contacted the national Olympic committees or government sports ministries of all 206 countries and territories participating and confirmed that at least 33 will award cash prizes for medals. Forbes staff writer Justin Birnbaum joins "Forbes Talks" to break it down.

0:00 Introduction
0:58 What Does The Payday For Gold, Silver, Or Bronze Look Like?
2:50 Which Countries Pay The Most For Which Medal And Why?
4:37 Podium Meanings And Earnings
6:47 How Do Lesser Known Athletes Afford Training, Equipment, And Medical Expenses

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[lyricsandmoodsongs]

I hope Forbes sees this as I am saying this for the Philippines.

For Paris Gold medalist, 13 million pesos or more than US$200, 000 coming from the government as mandated by law for the Php10M and the Php3M from house of the representatives. He will also get a home unit from a prestigious real estate company valued at US$400, 000. Another private firm will give close to US$100, 000. In addition, Lifetime freebies from various restaurants have announced their gifts.

This is just the initial incentives and gifts. When a medalist wins, more will be given. All of which are not endorsement deals, pure gifts from Filipinos to Philippines winning athletes.

During the Tokyo Olympics, the sole gold medalist, Hidilyn Diaz received close to Php50M or more than US$900, 000.

[bfp_bfp]

If a country rarely has any medalist winners in the past, winning is a huge deal. Sponsors will pay lots of money.
During training, they may earn so little.

[kudajingkrak]

Indonesia pays $340.000 for gold medalists. Plus pension. Plus lots of other bonuses.

[Yourstruly.]

$37, 500?! For team USA gold?! I would think they get way more than that in our economy. Not including sponsors

[dalisayhd]

Overall our golden boy Carlos Yulo received 2.5 million USD.

[KB-szlu]

in India, PV Sindhu got around $8.7 million dollars (with PPE thats almost $35 million) for her silver medal in olympics in 2016

[hintex]

Can't wait to hear more about this on Forbes Talks.

[braddalton]

Singapore pays 1 million per gold medal.

[Beeman]

Philippines offers gold winners roughly 185k usd not yet including housing and free international flights and endorsement deals

[rysupastar]

Forbes got no idea what an olympic medalist in the Philippines can have.

$37000?! It pays more to be an american ninja warrior 😂

[emileepini]

Cool info I never knew. Thanks for the info.

[Denise-bcg]

You dont get get rich from government handouts, athletes make real bank from endorsement deals, hence, US athletes will alwsys be on top.

[daviddang]

The Poland one getting the apartment? Can you clarify if they get to own it outright ? Or only get to live in it rent free for a period of time?

[alphahoss]

Yes and if I’m not mistaken Americans have to pay taxes on their medals 🏅🥇.

[andreips]

Romania for example offers: 140.000 Euro for Gold
100.000 Euro for Silver
60.000 Euro for Bronze

[nino]

Indonesia gives around $290k for gold. $150k silver and roughly $100k bronze plus other gifts from sponsors both companies and privates (land, house, apartment, car etc).

I guess the rarer the moment the more vsluable they are.

[jimwagner]

Doesn't help that the average American doesn't care about track and field. Track is not very popular in the US

[Zer-tygx]

1912 was the last time the olympics made a 100% pure gold medal. In today's market, it's worth $1.4 million
Nowadays, olympic gold medals are made out of 90% silver and 10% gold. Which is worth a little over $1500

[hondaxyz]

INDIA gives at least 2-3 Millions USD to its Olympic medalist and another 20-30 Millions in various rewards and a lucrative government job when he/she end their sports career.And yes trans people have their own sports.