Wednesday, August 27, 2008

Gold Medals Worth Cash

According to reports, the Chinese government has rewarded Olympic gold medalists with cash bonuses. Each gold medalist on the Chinese team will receive a tax-free bonus of 350,000 yuan, which is the equivalent of $51,000 USD. This Olympic bonus is almost double of that paid out after the Athens Games in 2004. Every medalist, even those on teams, will be paid the bonus.

The Chinese won 51 gold medals, which was more than any other country competing in the 2008 games.

In contrast, Kenya’s gold medalists receive a cash prize, a TV, and a washing machine.

It seems that the Greek athletes are paid the most handsomely. All medal winners receive payouts. Gold medalists will receive 190,000 euros ($280,000 USD), 130,000 euros for silver ($260,000 USD), and 70,000 euros for bronze medals ($140,000 USD).

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1 comment:

  1. Thanks for the great post! Super informative and enjoyable read!