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.
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.
Very real in the Philippines. In fact one of our olympians complained that no one sponsored their uniforms and they tape the Philippine flag in their clothing.
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
In North America can only buy 14 gold jewelry which isn't much. Diamonds, pearls, sapphires, rubies are all lab made now. I don't even bother wasting my money for over priced custom jewels.
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.
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.
@@VC_0404it’s actually 10% of what Yulo is entitled from PAGCOR. It was reported that Coach Castañeda is already assured for 10million pesos (174,779.90 USD) for Yulo’s 2 golds. Not sure if the coach also gets a certain percentage equivalent from the other cash incentives from different gov’t bodies.
Why should a country use PUBLIC FUNDS to people who chose sports as a career? How much bonuses do we pay nurses, teachers, doctors, etc, who impact the wider public? Sports is overrated!
if you win in the us you should get minimum Bronze 500k Silver 800k Gold 1.5 Million minimum if you do not medal 100k should go to every athlete who competes regardless of winning just representing the US at a High Level You should be compensated There should not be taxes on this income also every athlete should get benefits.
I would take that investment grade diamond, and 1bdrm apt in my nations biggest city over some of those other finanical bonuses. Housing security is huge
All the Indian here are lyng about prize money offered. When we talk about prize means it should be something which is by law paid by Government equally to anyone who win Olympic medal. We all know the prize money decided based on sensations, public sentiment and social media trends so that ruling party can gain some political score.
Sports of any kind overwhelmingly favours a select few rhat win over the majority. Its a power law distribution of wealth with the winning athletes able to garner money and influence waaaay beyond the participants. This is why i respect the swiss and UK stance of supporting all their athletes throughout their practice. Countries think that holding the stakes high (apartment, pensions) will get better performance as well as inspiration for the next gen. But what it does is puts all resources at one person's (or team's) feet. They continue to win more but the pipeline of strong contenders is awful. This can not only damage up and coming athletes within a sport but also across sports. Winning cricket world cups will net cricketers in india a lot of money from both central & state governments, ad deals and brand freebies. But given how much is spent on that one sport which is already overflowing with money, other sports suffer. They suffer from poor coverage, funding, interest and rewards. Which is why despite being a country of a billion people, india won 6 medals in total - none of them gold.😢
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.
Lies again? Social Security Owe Money
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.
Very real in the Philippines. In fact one of our olympians complained that no one sponsored their uniforms and they tape the Philippine flag in their clothing.
Indonesia pays $340.000 for gold medalists. Plus pension. Plus lots of other bonuses.
$37,500?! For team USA gold?! I would think they get way more than that in our economy. Not including sponsors
Overall our golden boy Carlos Yulo received 2.5 million USD.
Singapore pays 1 million per gold medal.
Yes, that's what I had heard as well! 🥇 💸💸💸
Do they actually have any gold medalists?
@@donna25871 1 in 2016. Pretty famous swimmer for them, I think he just retired a few months ago.
Yes, 1 in 2016.
Is it Singapore the highest bonus paid for gold medal recipient? Or India? India population is huge , but medal is few
in India, PV Sindhu got around $8.7 million dollars (with PPE thats almost $35 million) for her silver medal in olympics in 2016
Then the Javelin thrower that won gold must be PAID
Forbes got no idea what an olympic medalist in the Philippines can have.
Philippines offers gold winners roughly 185k usd not yet including housing and free international flights and endorsement deals
And lifetime gas!
@rysupastar71 fart 🎉🎉
Cool info I never knew. Thanks for the info.
$37000?! It pays more to be an american ninja warrior 😂
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?
Own ofcourse.
In Romania over 150.000 USD / gold medal.
You dont get get rich from government handouts, athletes make real bank from endorsement deals, hence, US athletes will alwsys be on top.
Romania for example offers: 140.000 Euro for Gold
100.000 Euro for Silver
60.000 Euro for Bronze
Yes and if I’m not mistaken Americans have to pay taxes on their medals 🏅🥇.
thats weird
Of course
Same with Philippines. But a proposal in our congress is made to make the rewards tax free.
Why not? It's their income! They chose sports as a career, right?
Doesn't help that the average American doesn't care about track and field. Track is not very popular in the US
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
In North America can only buy 14 gold jewelry which isn't much. Diamonds, pearls, sapphires, rubies are all lab made now. I don't even bother wasting my money for over priced custom jewels.
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.
I read they also gives them livestocks like cows😅
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.
In Romania is over 150.000 USD / gold medal.
Canada pays out $20,000.00, $15,000.00 and $10,000.00 Canadian for Gold, Silver and Bronze and of course it's taxable.
😂😂😂😂😂😂😂
Cheapskate 😂
And a 100$ Tim Hortons gift card
“It’s worth it” 4:44
You better speed up that bonus
Who pays the coaches? Do they win cash prizes if their athletes medal?
In the Philippines, the coaches each got P500,000 bonuses from the office of the President.
@@VC_0404it’s actually 10% of what Yulo is entitled from PAGCOR. It was reported that Coach Castañeda is already assured for 10million pesos (174,779.90 USD) for Yulo’s 2 golds. Not sure if the coach also gets a certain percentage equivalent from the other cash incentives from different gov’t bodies.
I think a rel t5x would be a good comparison. But totally agree on the Kef/svs sub comparison.
In Taiwan Olympic gold medal worth 20,000,000NTD roughly 700,000USD.
So in the US, what is the effective tax rate on these winnings? Capital gains rate of 20 percent?
Mr. Explicit Cash Bonus is really on a roll here.
Why should a country use PUBLIC FUNDS to people who chose sports as a career? How much bonuses do we pay nurses, teachers, doctors, etc, who impact the wider public? Sports is overrated!
USA in ranked no. 1 in debt. Cant afford to pay its athletes
Not in the Olympics, but in the private sectors they do.
It's not easy even for the USA to pay off way more than one medal like St.Lucia.
@@TroyQwert US can afford it
We can keep on running money until world elites decides when a crash will come.
But lots of athletes in US is already making a lot of money from endorsements. Compared to other countries
if you win in the us you should get minimum Bronze 500k Silver 800k Gold 1.5 Million minimum if you do not medal 100k should go to every athlete who competes regardless of winning just representing the US at a High Level You should be compensated There should not be taxes on this income also every athlete should get benefits.
I agree
For Malaysia 🇲🇾, gold medalist receive RM100k & "Dato" title from the King
Carlos yulo of the Philippines as 2 golds medals estimated will receive more or less 1million dollars .
More like 2
I would take that investment grade diamond, and 1bdrm apt in my nations biggest city over some of those other finanical bonuses. Housing security is huge
Hong kong horse jockey club pays 6,000,000 hkd for gold medal winner
Little information.
How USA will give six figures to 40 gold medalist, HongKong can afford it they have only 2.
But US economy way bigger than tiny hongkong
The U.S. can give even 7 figures each if they wanted... They can just print it.
Some countries issue diplomatic passports for visa free travel for life
Damn! No wonder China had so many damn golds this Olympics!!! 😳 making that BANK! 🤑
All the Indian here are lyng about prize money offered. When we talk about prize means it should be something which is by law paid by Government equally to anyone who win Olympic medal. We all know the prize money decided based on sensations, public sentiment and social media trends so that ruling party can gain some political score.
In Canada, gold medalist gets Tim Hortons 200$ gift card
It's why sime Olympians don't sleep on cardboard beds
Sports of any kind overwhelmingly favours a select few rhat win over the majority. Its a power law distribution of wealth with the winning athletes able to garner money and influence waaaay beyond the participants. This is why i respect the swiss and UK stance of supporting all their athletes throughout their practice.
Countries think that holding the stakes high (apartment, pensions) will get better performance as well as inspiration for the next gen. But what it does is puts all resources at one person's (or team's) feet. They continue to win more but the pipeline of strong contenders is awful. This can not only damage up and coming athletes within a sport but also across sports.
Winning cricket world cups will net cricketers in india a lot of money from both central & state governments, ad deals and brand freebies. But given how much is spent on that one sport which is already overflowing with money, other sports suffer. They suffer from poor coverage, funding, interest and rewards. Which is why despite being a country of a billion people, india won 6 medals in total - none of them gold.😢
Free 30-minute yoga lessons every 4 years (for life), in my country😮
This is a very boring interview. The interviewer asks questions like an AI would
Damm shame get on board !
So boring people
are you expecting them to dance for you?
@@scalemodeltutor9841 that’s too boring too
Please improve the lighting and adding visuals. The lighting feels like musty and moldy carpet
Omg... lol relax
😂😂😂
If i was simon biles i wold move to hong kong. Imagine 800k for each gold medal?
Simone is worth 16 million she makes money from endorsements.
She doesn't need to. She has more than $10 mil in endorsements deals.
i heard the gold is not even really made of gold
yes and the IOC already vocal about it
That's not news... Last time they were actually anywhere near solid or majority gold, was like 1912!!!
Made with 20% Gold and 80% Silver
Pure gold is soft and not suitable for regular wear.
Scam artist.