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The worth of a medal from the Olympics relies upon so much on what nation you symbolize. Whereas all of the medals have the identical worth in the case of the dear metals which might be within the medals (Gold: $566, Silver: $325, Bronze: $3), the money rewards that completely different international locations give their athletes who win differ by tens of 1000’s of {dollars}.
The High 5 Bonuses By Nation
The worth of an Olympic gold medal can differ considerably relying on the nation represented. The precise valuable metallic content material of the medals is comparatively low, however the money rewards given by international locations differ broadly.
High 5 Bonuses By Nation
Singapore
Singapore continues to steer with a hefty reward of SGD 1,000,000 (roughly USD 738,000) for a gold medal. Singaporean athletes compete throughout numerous sports activities, with a concentrate on desk tennis and swimming.
Indonesia
Indonesia gives IDR 10 billion (about USD 660,000) for a gold medal, reflecting its sturdy dedication to supporting athletes, particularly in badminton and weightlifting.
Kazakhstan
Kazakhstan supplies USD 250,000 for a gold medal, sustaining its beneficiant rewards for Olympic success. The nation has a powerful presence in boxing and wrestling.
Azerbaijan
Azerbaijan rewards its gold medalists with USD 248,000. The nation has a notable historical past in wrestling and boxing, contributing to its Olympic success.
Italy
Italy gives EUR 180,000 (round USD 200,000) for a gold medal, persevering with its custom of supporting athletes in numerous sports activities, together with fencing and biking.
Different Notable Bonuses
Nations like Hungary (USD 125,000) and Russia (USD 61,000) additionally present substantial rewards. The USA gives USD 37,500 for gold, whereas Canada and Australia provide extra modest sums of CAD 20,000 (roughly USD 15,000) and AUD 20,000 (round USD 13,500), respectively.
Past Money Bonuses
The true worth of an Olympic medal usually lies past the quick money reward. Many athletes safe profitable endorsement offers, particularly in high-profile sports activities, considerably rising their earnings.
The Backside Of The Record
By comparability, the bonuses supplied by Canada and Australia are downright stingy. A gold medal for a Canadian athlete will imply a $15,000 bonus, whereas silver will usher in $11,000 and bronze will internet $8,000.
And, in contrast to many different international locations, the US taxes these bonuses which may imply that as a lot as 39.6% will find yourself going again to the IRS.
After all, the money bonuses will be solely a small fraction of the particular price of an Olympic medal gained, particularly a gold medal. Gold (in addition to silver and bronze) can usually imply profitable endorsement and promoting offers that may be price a whole lot of 1000’s of {dollars}, if no more. A lot of this is determined by the nation and in what occasion the medal comes, nevertheless it’s usually these offers that deliver essentially the most cash from profitable an Olympic medal.
However greater than what they make is what we can learn from these athletes, with all the things they do, all of the work they do. What an incredible feat it’s for them to win the gold.
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