How much Olympians get paid for winning a medal

  • 2 months ago
TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how much Olympians get paid for medaling.

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Sports
Transcript
00:00I'm Conway Gittins reporting from the New York Stock Exchange.
00:02Here's what we're watching on the street today.
00:04Economic anxiety is growing on Wall Street
00:07following the latest jobs data.
00:09The US economy added only 114,000 jobs in July,
00:13and the unemployment rate surprisingly spiked to 4.3%.
00:18That's the highest jobless rate since 2021.
00:21The report is adding to concerns that the Federal Reserve has
00:24waited too long to lower interest rates.
00:27As a result, Wall Street is now betting
00:29on a more aggressive rate cut in September.
00:33In other news, Olympic winners will
00:35return home with more than just the medals around their necks.
00:38Besides the potential for advertising and endorsement
00:41deals, there's some real cash on the line.
00:43According to data compiled by CNBC,
00:46Americans taking home a gold medal get $38,000,
00:49silver gets $23,000, and bronze gets $15,000.
00:54Those cash prices, however, are on the low end of the spectrum.
00:58The biggest cash rewards are given out by Asian nations.
01:01Hong Kong gives its gold medalist $768,000,
01:06Singapore gives out $745,000, and Indonesia
01:10gives out $300,000.
01:12Cash rewards have gone up from recent games.
01:14Hong Kong bumped up its Olympic bonus by 20%
01:18compared to the Tokyo Summer Olympics.
01:20Israel reportedly hiked the prize for a gold medal by 50%
01:23to nearly $271,000.
01:26Host nation France also reportedly
01:28increased its bonus by 23% for top winners to more than $86,000.
01:34But not all medalists get cash.
01:37Some of the more eye-catching bonuses
01:39include free homes, free food for life,
01:41free rides on mass transit for life,
01:44and Indonesia even gave two of its winners five cows.
01:48That'll do it for your daily briefing from the New York Stock
01:50Exchange.
01:51I'm Conway Gittens with The Street.

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