As the 2024 Paris Olympic Games get going in earnest – the first medal being won on Saturday morning – U.S. athletes are gearing up not only for the thrill of competition but also for the potential financial rewards from their hard-earned victories or place on the podium.
Thousands on offer for Olympic gold, silver and bronze
Through the United States Olympic & Paralympic Committee’s (USOPC) Operation Gold program, the payout structure for medalists remains unchanged from previous years. For those wondering how much green accompanies the gold, silver, and bronze, here’s the breakdown.
American athletes will receive $37,500 for every gold medal, $22,500 for each silver, and $15,000 for a bronze. While these sums are nothing to scoff at, it’s worth noting that the U.S. sits at 18th place in the global ranking for gold medal payouts. And while at first glance that may suggest that the U.S. prefers to be thrifty with its Olympic piggy bank, unlike some other countries, there may be a fairly logical rationale.
Which country pays the most for Olympic medals at Paris 2024?
Hong Kong takes the top spot in the league of medal financial payments, according to Forbes, offering a staggering $768,000 for each gold medal – enough to make even the most stoic weightlifters do a double-take. This hefty reward is part of a broader trend where several countries are offering substantial financial incentives to their athletes.
The 15 countries and territories offering six-figure payouts for gold medalists in individual sports
- Hong Kong: $768,000 – Cash bonuses for top-eight finishes, substantial even for non-medalists.
- Israel: $275,000 – Scaling bonuses based on medal type and team size, all tax-free.
- Serbia: $218,000 – Includes a lifetime pension for medalists.
- Malaysia: $214,000 – Lifetime pensions for all medalists.
- Italy: $196,000 – Equal bonuses for team and individual sports medalists.
- Lithuania: $182,000 – Benefits include post-career rent support.
- Moldova: $171,000 – Even eighth place earns a bonus, with higher rewards for medals.
- Latvia: $155,000 – Sliding scale rewards for top-six finishes, substantial team bonuses.
- Hungary: $154,000 – Generous bronze medal bonuses.
- Bulgaria: $139,000 – Team bonuses structured based on team size.
- Ukraine: $125,000 – Limited gold medal, but varied team and individual successes.
- Kosovo: $120,000 – Record-breaking performance can earn additional bonuses.
- Estonia: $109,000 – Additional monthly payments for top-10 finishes.
- Czech Republic: $103,000 – Strong history in women’s tennis, variable payouts.
- Spain: $102,000 – Differentiated bonuses for team and individual successes.
Source: Forbes
Team USA, though, traditionally clinches more medals than most other nations, effectively balancing the scales. With more opportunities to stand on the podium, U.S. athletes often end up with a cumulative payday that can rival or even surpass their international counterparts. In other words, the U.S. might be playing the quantity game rather than betting everything on a few big wins. As a simple comparison, take Serbia who won three golds at the Tokyo 2020 Games, whereas the U.S. won 39.
As well as the medal payout, American athletes looking to bump up their bank balance will also know that every medal they win not only adds to their personal accolades but also boosts their earning potential. U.S. Olympians have plenty of reasons to bring their A-game to the City of Light.
