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| 2 minutes read

2 minutes read

This Is How Much The Athletes Earn For Winning Medals In Tokyo Olympics 2020

| Published on August 1, 2021

For Indians everywhere, it was a proud moment when Chanu Saikhom Mirabai, an Indian weightlifter, received a silver medal in the Tokyo Olympics 2020.

Apart from the Silver medal, she received a lot of love and support from her country and from viewers worldwide. As far as the monetary benefits go, the Olympians do not receive any official cash prize from the International Olympic Committee.

It is the respective countries that the winners represent that bestow upon them as many benefits and rewards as they want for making them proud globally.

Union Minister for Railways Ashwini Viashnaw recently announced a cash reward of Rs 2 crore and promotion for Chanu’s spectacular performance.

M Biren Singh, Manipur’s CM, has announced a Rs 1 crore reward. The Indian Olympics Association has also declared to bestow a Rs 10 lakh reward for Chanu’s performance.

As per the data compiled by MoneyUnder30, this is how much the players get paid for winning medals in the Olympics.

Country Gold Silver Bronze
Singapore 744,000 USD 372,000 USD 286,000 USD
Hong Kong 644,000 USD 322,000 USD 161,000 USD
Kazakhstan 250,000 USD 150,000 USD 75,000 USD
Italy 212,400 USD 106,200 USD 70,800 USD
Hungary 167,500 USD 125,600 USD 95,500 USD
Russia 61,000 USD 38,000 USD 26,000 USD
France 65,000 USD 25,000 USD 15,000 USD
USA 37,500 USD 22,500 USD 15,000 USD
South Africa 37,000 USD 19,000 USD 7,000 USD
Germany 22,000 USD 17,000 USD 11,000 USD
Canada 16,000 USD 12,000 USD 8,000 USD
Malaysia 241,000 USD 72,200 USD 24,100 USD
Brazil 47,500 USD 28,500 USD 19,000 USD
Japan 45,200 USD 18,100 USD 9,045 USD
Australia 15,100 USD 11,400 USD 7,600 USD

The UK does not offer specific medal bonuses, however, it does devote £125 million ($162 million USD) of government and lottery funds to Olympic and Paralympic sports each year, some of which go to athlete’s annual stipends.

There are more than 600 US athletes that are competing at the Olympics this year. The country has so far won 11 gold, 11 silver, and 9 bronze medals.Singapore which has sent 23 athletes to Olympics this year, rewards its gold medalists the highest. The gold medalists stand to receive nearly 1 million Singapore dollars ($737,000). This is 20 times more than what US players receive.

The US Olympic & Paralympic Committee pays American medal winners $37,500 USD for gold, $22,500 USD for silver, and $15,000 USD for bronze medals.

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