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FRIDAY, December 09, 2022
How much is an Olympic medal worth?

How much is an Olympic medal worth?

THURSDAY, July 29, 2021

Instant fame is not the only reward for athletes who win an Olympic medal at the 2020 Games.

Money – lots of it – is also waiting for those who claim a spot on the podium in Tokyo.

Many countries offer their athletes a cash bonus in return for every gold, silver or bronze medal they win.

Thailand’s Panipak "Tennis" Wongpattanakit earned 12 million baht (US$365,150) for winning the taekwondo gold medal on the first day of the Games last Saturday.

Thailand offers a bonus rate of $365,150 for each gold medal, $219,090 for each silver, and $146,060 for each bronze.

Indonesia’s rate is the highest of all the countries participating in the Tokyo Olympics.

Indonesian athletes receive US$746,000 for a gold, US$378,000 for a silver, and US$188,000 for a bronze medal.

The US, whose athletes received the most gold medals at the previous Games in Rio de Janeiro (2016), offers far lower medal bonuses. In Rio, US athletes were rewarded with $37,500 for gold, $22,500 for silver and $15,000 for bronze.

However, some countries – namely Great Britain, Sweden and Norway – do not offer bonus money for their medallists.

Instead, Great Britain pays an annual salary of $38,339 to each Olympic and Paralympic athlete.

How much is an Olympic medal worth?