The IOC, which promotes the games, does not hand out prize money for finishing in the top three of an event, but provides the medals and sends an “Olympic diploma”, a certificate, to all those who finish in the top eight.The US Olympic and Paralympic Committee pays members ofSome countries, mostly those who win very few medals, are much more generous with their prize money, according to moneyunder30.com.Hong Kong gives out $644,000 for a gold, $322,000 for a silver and $161,000 for a bronze.
Malaysia, in addition to providing $241,000 for gold, $72,200 for silver and $24,100 for a bronze, also pays a monthly salary to its medalists for life.Team GB does not provide prizes for medal winners, but they receive an annual training stipend and UK Sport provides £125m of government and lottery funds to support Olympic and Paralympic teams.
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