Rio 2016 Gold Worth A Fortune And A Lifetime Supply Of Beer

Finishing the Olympics with a gold medal is an indescribable feeling for Olympic athletes. For some athletes it can attract handsome financial rewards and pecks that really boggles mind.

At age 21 Singapore’s swimmer, Joseph Schooling trousered a whopping 1 million Singaporean dollars, approximately ($ 750,000USD) for winning his country’s first Olympic gold medal. He beat his idol Michael Phelps in the 100-m butterfly final at the Rio Aquatics Centre. At age 13 with stars in his eyes Schooling met Phelps and was greatly inspired to become a swimming champion after 8 years. A multi-million Olympic fund is the source of Schooling’s prize money.

USA
Schooling’s idol Michael Phelps will receive a total of $140,000 for his five gold medals and one silver medal to be awarded by the US Olympic Committee.

GREAT BRITAIN
The British Olympic Association will not offer its athletes any prize money. Despite the fact that team GB is second in the pecking order of countries with the most medals at the Rio Olympics.

KOSOVO
Judoka, Majlinda Kelmendi will receive $113,248 (Euros 100,000) for winning her countries first Olympic gold medal.

ITALY
For Italy a gold medal attracts $170,310, silver medal: $85,150, bronze medal: $56,767. Italy is the EU member with the highest reward for medalists. In addition a private foundation (Fondazione Agnelli) has set up a $500,000 fund to be awarded for the most significant medals.

MALAYSIA
In Malaysia a gold medal is worth 1 million RM (249,300), silver: ($74,794), bronze: ($24,931). This comes with a lifetime permanent incentive of ($1,247) per month.

SERBIA
Serbia is setting aside ($50,955) for an individual gold medal, ($45,300) for silver and ($39,638) for bronze. Medalists also get a lifetime national pension. For medals won in team sports Serbia is awarding each member of the team the same amount as individual medalists.

TURKEY
Medalists are awarded in gold coins instead of bank notes. Gold medalists receive (3 million) gold coins, (2million) gold coins for silver and (1 million) gold coins for bronze.

GERMANY
The foundation ‘Deutseche Sporthilfe’ rewards gold medalists with ($22,707), silver: ($17,030) and bronze :( $11,354) with a free lifetime supply of beer for all medalists.

SOUTH KOREA
Gold medalists get ($55,000), silver: ($28,000), bronze: ($16,000). Male medalists are exempted from Korea’s two years compulsory military service. There is also a lifetime national pension for all athletes. Medalists also receive bonus prize money from some national federations.

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[Notes from AIPS Media]
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