December 22, 2024
Financial Assets

How Olympians make money from their moment of glory


It was resold through an auction house in 2010 for $310,700. Another member of the same gold-medal winning team sold his medal for $262,900 in 2014, saying that he wanted to be able to fund his daughter’s future.

It’s possible to buy older Olympic medals for as little as $1,283, which is what one silver medal in shooting from the 1900 Paris Olympics fetched at auction in 2021.

How much do athletes win for a gold?

While some countries richly reward their athletes for winning gold, many Olympic champions can expect to receive almost nothing for their win.

The United States pays $37,500 to athletes who make it to the top of the podium – the equivalent of less than £30,000.

Some 15 countries offer six-figure bonuses for those claiming gold, including Hong Kong, which pays athletes $768,000 for a first-place finish. The territory even pays athletes nearly $100,000 for a fourth-place finish, and $50,000 for anything else above eighth.

Israel will pay $275,000 for gold, $192,000 for silver and $137,000 for bronze. All the prizes are tax-free, but will be split among those competing in team events – with those competing in a pair each receiving 75pc of the full total.

Other countries offering large payouts for golds including:

  • Serbia ($218,000, £170,000)
  • Malaysia ($214,000)
  • Italy ($196,000)
  • Lithuania ($182,000)
  • Moldova ($171,000)
  • Latvia ($155,000)
  • Hungary ($154,000)
  • Bulgaria ($139,000)
  • Ukraine ($125,000)
  • Kosovo ($120,000)
  • Estonia ($109,000)
  • Czech Republic ($103,000)
  • Spain ($102,000).

How else can Olympic athletes become millionaires?

Of the 10,000 athletes currently in the Olympic village, just a handful are millionaires.

They sell out stadiums across the globe, playing some of the most popular sports, including basketball, tennis, golf, and football.  

From sponsorship deals and million-dollar salaries, to eye-opening prize pots, there is cash to be made – mainly outside the Games themselves.  



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