Here’s how much athletes at the Paris Olympics earn 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.

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

Cash incentives for Hong Kong athletes competing in Paris jumped 20% from the Tokyo Summer Olympics. Gold medalists will receive 6 million Hong Kong dollars ($768,000), Hong Kong’s Chief Secretary for Administration Chan Kwok-ki announced early July. Silver and bronze medalists stand to earn HK$3 million and HK$1.5 million 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-meter freestyle.

Singapore gives Olympic medalists 1 million Singapore dollars ($745,300) for gold, SG$500,000 for silver and SG$250,000 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-meter butterfly at the Rio Olympics in 2016 to win gold.

Other governments dangling six-figure cash rewards for their gold medalists include Israel, Malaysia, Kazakhstan and Indonesia. Israel is reportedly offering a million Israeli shekels ($270,537) for a gold medal, marking a 50% jump from what was offered for the Tokyo Games.

Host country France has also reportedly bumped up its cash incentives. Gold medalists are slated to receive 80,000 euros ($86,528) — 15,000 euros more than what it offered at the Tokyo Olympics.

Some extend rewards to athletes outside of the podium places. Germany’s Sports Aid Foundation doles out cash prizes up to eighth place finishers at the Olympic Games. Gold medalists receive 20,000 euros ($22,000).

India’s Olympic athletes receive monetary rewards from both the government and its national sports body, according to local media. The government give gold medalists 7.5 million rupees ($90,000)…