The International Olympics Committee doesn't provide cash rewards to Olympic medalists. But countries around the world shower their victorious athletes with cash prizes and additional incentives as a token of recognition. With the Paris Olympics 2024 nearing its conclusion at the iconic Stade de France, nations have already declared the financial rewards their medalists will receive.
Cash Rewards from Different Nations
- Hong Kong: Hong Kong has recently bumped up its prize money by a whopping 20 percent since Tokyo 2020. A gold medalist here pockets 6 million Hong Kong dollars (about $768,000). Silver and bronze medalists also get handsome rewards with HK$3 million and HK$1.5 million, respectively.
- Singapore: The lion city of Singapore offers its gold medalists a substantial sum of 1 million Singapore dollars (approximately $745,300). Silver and bronze medalists aren't left behind, receiving SG$500,000 and SG$250,000, respectively.
- Israel: In Israel, athletes striking gold at the Olympics walk away with 1 million Israeli shekels ($270,537).
- France: France has sweetened the pot by adding 15,000 euros from its Tokyo rewards. Gold medalists now bag 80,000 euros (about $86,528) for their triumphs.
- India: India honors its gold medalists with a generous reward of 7.5 million rupees (around $90,000). Additionally, the Indian Olympic Association adds a bonus of 10 million rupees for their top performers.
- Kazakhstan: Kazakhstan offers a tidy $250,000 for gold medalists, $150,000 for silver, and $75,000 for bronze. But wait, there's more"ā€¯they also throw in apartments for their winning athletes.
- Malaysia: Malaysia's National Sports Council awards 1 million ringgit ($215,563) to its gold medalists. Silver and bronze medalists collect 300,000 and 100,000 ringgit, respectively. As if that wasn't enough, each athlete who steps onto the podium gets a foreign-made car, courtesy of the country's youth and sports minister, Hannah Yeoh.
- South Korea: South Korea gifts its gold medalists with 63 million won ($43,288). The cherry on top? They can choose between a lifelong monthly pension of a million won or a lump sum of 67.2 million won. Silver and bronze medalists take home 35 million and 25 million won, respectively.
- Poland: Poland gave its silver medalist, Klaudia ZwoliĆ…ā€˛ska, 200,000 Polish zloty ($50,374). In addition, Klaudia also received a painting, a holiday voucher, a scholarship, and a diamond to celebrate her achievement.
- Indonesia: Indonesian badminton champions Apriyani Rahayu and Greysia Polii didn't just score gold. They received five cows, a meatball restaurant, and a new house.
Here's a table summarizing the prize money for medal-winning athletes by country:
| Country | Gold Medal | Silver Medal | Bronze Medal |
|---|---|---|---|
| Hong Kong | HK$6 million (approx. $768,000) | HK$3 million | HK$1.5 million |
| Singapore | SG$1 million (approx. $745,300) | SG$500,000 | SG$250,000 |
| Israel | 1 million Israeli shekels (approx. $270,537) | - | - |
| France | 80,000 euros (approx. $86,528) | - | - |
| India | 7.5 million rupees (approx. $90,000) + 10 million rupees (from Indian Olympic Association) | - | - |
| Kazakhstan | $250,000 | $150,000 | $75,000 |
| Malaysia | 1 million ringgit (approx. $215,563) | 300,000 ringgit | 100,000 ringgit |
| South Korea | 63 million won (approx. $43,288) + option of lifelong monthly pension (1 million won) or lump sum (67.2 million won) | 35 million won | 25 million won |
| Poland | - | 200,000 Polish zloty (approx. $50,374) | - |
| Indonesia | Five cows, a meatball restaurant, and a new house | - | - |
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