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    Here's How Much Money Medal Winners Earn at the 2024 Paris Olympics

    By Sherin Shibu,

    3 hours ago

    https://img.particlenews.com/image.php?url=3jqnM3_0ujcJxnc00

    Athletes who win a gold, silver, or bronze medal at the 2024 Paris Olympics receive a medal, a poster, and a stuffed toy of the Olympics mascot — but no money.

    Even though the International Olympic Committee doesn't offer a financial prize for a win, some countries still offer medalists cash bonuses. On Tuesday, based on data from the National Olympic Committees, CNBC published a list of the countries that reward winning athletes and how much they receive for each medal.

    Related: 'The Olympics Are a Business': Mark Cuban Says NBA Players Should Not Be Permitted to Play in the 2024 Summer Games

    Hong Kong and Singapore are the most generous, rewarding gold medalists with over half a million dollars.

    Paris 2024 Olympic Games. Photo by Michael Reaves/Getty Images

    The U.S. finished tenth on the list, with prizes ranging from $15,000 to $38,000.

    Becoming an Olympic athlete takes a six-figure investment with no guaranteed return, salary, or federal support to cover expenses. Rick Hawn, who competed in the 2004 Olympics in judo, said his family felt the financial strain of his Olympic career.

    "My parents nearly went bankrupt," Hawn told The Huffington Post . "They put whatever they could into me and I'm the oldest of six kids."

    The Paris Olympics costs up to $21,700 in fees and membership dues, but the annual income of one in four U.S. Olympians is less than $15,000. Team USA does award nearly $2.5 million in private grants every year.

    Related: Famed Broadcaster Al Michaels' Voice Will Be AI-Generated for Summer Olympics Coverage

    Here are the top five countries with the highest Olympic payouts.

    Hong Kong

    Gold: $768,000

    Silver: $384,000

    Bronze: $192,000

    Singapore

    Gold: $745,000

    Silver: $373,000

    Bronze: $186,000

    Indonesia

    Gold: $300,000

    Silver: $150,000

    Bronze: $60,000

    Israel

    Gold: $271,000

    Silver: $216,000

    Bronze: $135,000

    Republic of Kazakhstan

    Gold: $250,000

    Silver: $150,000

    Bronze: $75,000

    Here's how the U.S. pays its medalists

    Gold: $38,000

    Silver: $23,000

    Bronze: $15,000

    For the full chart, click here .

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