The 2022 Winter Olympics is well underway in Beijing, and more than 200 medals have already been awarded to athletes from around the world.
Finishing on the podium is a matter of national pride. For some winners, it also means taking home a cash bonus and opening doors to rare multimillion-dollar sponsorship opportunities.
The International Olympic Committee does not pay prize money to medalists, but many countries offer monetary rewards to their athletes for the number of medals they win at either the Summer Olympics or Winter Olympics.
CNBC compiled the chart below, sourcing information from various national Olympic committees, sports associations and personal finance site Money Under 30.
The data showed the U.S. Olympic and Paralympic Committee rewards its athletes $37,500 for every gold medal won, $22,500 for silver and $15,000 for bronze. Most of that prize money is not taxable unless athletes report gross income that exceeds $1 million.
American athletes also receive other forms of support such as health insurance, access to top-tier medical facilities and college tuition assistance.
The U.S. sent more than 200 athletes to compete in Beijing. Team USA has so far bagged 7 gold medals, 6 silver and 3 bronze.
At the 2021 summer games, American athletes took home 39 gold, 41 silver and 33 bronze — racking up the highest medal tally by any country in Tokyo.The 2022 Winter Olympics is well underway in Beijing, and more than 200 medals have already been awarded to athletes from around the world.
Finishing on the podium is a matter of national pride. For some winners, it also means taking home a cash bonus and opening doors to rare multimillion-dollar sponsorship opportunities.
The International Olympic Committee does not pay prize money to medalists, but many countries offer monetary rewards to their athletes for the number of medals they win at either the Summer Olympics or Winter Olympics.
CNBC compiled the chart below, sourcing information from various national Olympic committees, sports associations and personal finance site Money Under 30.
The data showed the U.S. Olympic and Paralympic Committee rewards its athletes $37,500 for every gold medal won, $22,500 for silver and $15,000 for bronze. Most of that prize money is not taxable unless athletes report gross income that exceeds $1 million.
American athletes also receive other forms of support such as health insurance, access to top-tier medical facilities and college tuition assistance.
The U.S. sent more than 200 athletes to compete in Beijing. Team USA has so far bagged 7 gold medals, 6 silver and 3 bronze.
At the 2021 summer games, American athletes took home 39 gold, 41 silver and 33 bronze — racking up the highest medal tally by any country in Tokyo.