- This is how much (or how little) money nations pay their athletes
At the 2024 Olympic Games in Paris, over ten thousand athletes from 206 nations will compete for medals, glory, immortality - and prizes from their home countries. The prize money varies greatly.
While some nations reward their athletes with a few thousand euros, others pay small fortunes for gold, silver, and bronze. How much will German medal winners receive - and how do we compare internationally?
What do German winners get at the 2024 Olympics?
In Germany, it's the German Sports Aid Foundation that pays prize money to Olympic participants for their medals. These payments are privately funded and do not come from public funds. The amount has been constant for a decade, but the actual payment is made a year after the award ceremony.
This year, the Sports Aid Foundation plans to distribute a total of 2.1 million euros to successful participants in the Olympic and Paralympic Summer Games in Paris. The most is awarded for a gold medal.
German Olympic medal winners will be rewarded as follows: 20,000 euros for gold, 15,000 euros for silver, and 10,000 euros for bronze, regardless of the sport.
In addition, athletes who secure places beyond the podium also receive prize money: 5,000 euros for fourth place, 4,000 euros for fifth, 3,000 euros for sixth, 2,000 euros for seventh, and 1,500 euros for eighth place.
However, compared to other nations, the amounts are rather low. How much do other countries pay?
What other nations pay for Olympic prizes
Other nations pay the following for a gold medal:
- Hong Kong: 690,000 €
- Singapore: 686,000 €
- Taiwan: 550,000 € (plus a monthly 3,700 € for life)
- Israel: 254,000 €
- Serbia: 201,000 €
- Italy: 178,540 €
- Spain: 93,240 €
- France: 79,352 €
- USA: 35,500 €
- Canada: 13,485 €
- Australia: 12,000 €
In Paris, the World Athletics body will for the first time add an additional 50,000 US dollars (approximately 46,000 euros) to each gold medal for its Olympic champions. This marks the first time a sports federation has distributed cash prizes to its winners at the Olympics. While this move is welcomed by athletes, other sports federations and the International Olympic Committee (IOC) have expressed criticism.
The German Sports Aid Foundation is the entity responsible for awarding prize money to German Olympic athletes, independently funded and provided a year after the event.In contrast to nations like Hong Kong, Singapore, and Taiwan offering significant sums for a gold medal, German winners receive 20,000 euros for gold, 15,000 euros for silver, and 10,000 euros for bronze.
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