13/08/2024
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Do you think olympic athletes are fairly compensated?
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Italy tops the chart at the Paris 2024 Olympics, awarding a whopping $10.7 million to its 40 medalists. The U.S. followed closely, disbursing $9.4 million to its 126 medalists, including standout swimmer Bobby Finke, whose world record in the 1500-meter freestyle added to America’s 28 swimming medals. France, the host nation, rewarded its athletes with $8.3 million for their 64-medal haul, marking their best performance in over a century.
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Many countries provided more than just prize money for winning a medal, such as the US where multiple bonuses were won by numerous athletes, the highest paying country per medal is Hong Kong, dolling out $768,000 per gold medal. Norway as far as available data goes pays the lowest at $0 for any medal won, and Australia who for Gold, Silver and Bronze awards $13,000, $10,000, and $7,000.
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The methodology behind these figures is thorough. Medal bonuses are listed in U.S. dollars, converted from local currencies at the exchange rate as of August 11, 2024, and rounded to the nearest thousand. The data was gathered through inquiries made by Forbes to all 206 countries and territories participating in the Paris Olympics. At least 33 nations confirmed they would award cash prizes for medals, with a focus on those offering over $1 million in total payouts.
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Notably, smaller nations like Hungary and Hong Kong also made significant contributions, with $3.8 million and $1.9 million in payouts, respectively. This payout analysis showcases not just athletic excellence, but the financial investment nations make to celebrate and reward their champions.
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