As the 2024 Paris Olympics progress, hundreds of athletes are claiming their share of medals and rewards. Beyond the medals, some lucky winners also receive financial bonuses for their podium finishes.
While the International Olympic Committee doesn’t provide prize money, several countries do. In Uganda, Minister of State for Sports Peter Ogwang announced that Ugandan athletes who win medals in Paris will receive between Shs30 million and Shs100 million. “We have set prize money of Shs100 million, Shs50 million, and Shs30 million for any athlete who wins gold, silver, and bronze, respectively,” Ogwang said during a visit to the Ugandan team camp in France. The funds will be channeled through the National Council of Sports (NCS).
Uganda’s 25 competitors are taking part in athletics/marathon, swimming, cycling, and rowing. So far, rower Kathleen Noble and swimmer Gloria Muzito have been in action. Noble secured a place in the final of the women’s single sculls, while Muzito, unfortunately, did not advance in the women’s 100m swimming.
Uganda’s medal hunt continues on Friday with athletes including Jesse Ssengonzi (swimming), Esther Chebet, Belinda Chemutai, Joy Cheptoyek (women’s 5000m), and Halima Nakaayi (women’s 800m). The men’s 10,000m final will feature medal contenders Joshua Cheptegei, Jacob Kiplimo, and Martin Magengo Kiprotich.
Global Medal Bonuses
Hong Kong and Singapore offer the highest payouts. Hong Kong’s gold medalists receive 6 million HKD ($768,000), with silver and bronze medalists earning HK$3 million and HK$1.5 million, respectively. Singapore rewards its gold medalists with 1 million SGD ($745,300), silver with SG$500,000, and bronze with SG$250,000.
Other notable bonuses include:
- Israel: 1 million ILS ($270,537) for gold.
- France: 80,000 EUR ($86,528) for gold.
- India: 7.5 million INR ($90,000) from the government and 10 million INR from the Indian Olympic Association for gold.
- Kazakhstan: $250,000 for gold, plus apartments for medalists.
- Malaysia: 1 million MYR ($215,563) for gold, with additional incentives like cars and apartments.
- South Korea: 63 million KRW ($43,288) for gold, plus a lifetime pension option.
Athletes from Great Britain, Norway, and a few other countries do not receive direct cash bonuses for podium finishes.
Quirky Rewards
Olympians often receive unique gifts:
- Malaysian athletes were promised free food and teh tarik for life by a local chain.
- Japanese table tennis player Kasumi Ishikawa was gifted 100 bags of rice for a silver medal.
- Indonesian badminton gold medalists received five cows, a meatball restaurant, and a new house.
Stay tuned as the Paris 2024 Games continue to unfold, with athletes striving not only for glory but also for the enticing rewards that come with their victories.
Here’s how much money athletes get for finishing on the podium.
| Table with 4 columns and 14 rows. | ||||||
| Country | Gold | Silver | Bronze | |||
| Hong Kong | $768,000 | $384,000 | $192,000 | |||
| Singapore | $745,000 | $373,000 | $186,000 | |||
| Indonesia | $300,000 | $150,000 | $60,000 | |||
| Israel | $271,000 | $216,000 | $135,000 | |||
| Republic of Kazakhstan | $250,000 | $150,000 | $75,000 | |||
| Malaysia | $216,000 | $65,000 | $22,000 | |||
| Spain | $102,000 | $52,000 | $33,000 | |||
| France | $87,000 | $43,000 | $22,000 | |||
| South Korea | $45,000 | $25,000 | $18,000 | |||
| United States | $38,000 | $23,000 | $15,000 | |||
| Japan | $32,000 | $13,000 | $6,000 | |||
| Poland | $25,000 | $19,000 | $14,000 | |||
| Germany | $22,000 | $16,000 | $11,000 | |||
| Australia | $13,000 | $10,000 | $7,000 | |||
Note: All figures are converted to USD and rounded up to the nearest 10,000 and 1,000 where appropriate.
Source: National Olympic Committees.