Here’s how much cash athletes at the Paris Olympics get for winning medals

The Paris 2024 Olympics is well underway, with dozens of medals already handed out.

Aside from a medal, a stuffed toy of the Olympics mascot and a “mysterious” box containing the official event poster, some medalists receive additional financial rewards for their efforts.

While the International Olympic Committee does not give out prize money for winning medals, several countries do reward their athletes with medal bonuses.

Below are some of the payouts, based on information compiled by CNBC from national Olympic committees, sports associations and local reports.

Olympic medal bonuses

Here’s how much money athletes get for finishing on the podium.

Highest payouts

Hong Kong and Singapore offer the highest payouts for their Olympic victors.

Cash incentives for Hong Kong athletes competing in Paris jumped 20 per cent from the Tokyo Summer Olympics.

Gold medalists will receive $6 million Hong Kong dollars (AUD$1,182,720), Hong Kong’s Chief Secretary for Administration Chan Kwok-ki announced early July. Silver and bronze medalists stand to earn HK$3 million ($591,360) and HK$1.5 million ($295,680) respectively.

This year, the city is slated for hefty pay outs due to an early crop of medals in swimming and fencing.

Vivian Kong won Hong Kong’s first medal at the Paris Games, topping the podium in the women’s epee individual event.

Fellow fencer Cheung Ka-long also won gold in the men’s individual foil event, while swimmer Siobhan Bernadette Haughey bagged a bronze medal in the women’s 200-metre freestyle.

Singapore gives Olympic medalists 1 million Singapore dollars (AUD$1,147,300) for gold, SG$500,000 ($$574,420) for silver and SG$250,000 ($286,440) for bronze.

The city-state has only dispensed the top cash bonus to one athlete: Joseph Schooling.

The now-retired swimmer defeated the United States’ Michael Phelps in the 100-metre butterfly at the Rio Olympics in 2016 to win gold.