An Olympic Gold Medal is Priceless even without all the Goverment cash bonuses

[ASEAN NOW News]

Over the past two weeks, hundreds of medals have been awarded to athletes from all over the world.

 

Here, Philippines officials have only praise for Hidilyn Diaz, the woman who ended the near century-long wait for Olympic gold for a nation that first competed in the Games in 1924.

 

Diaz is a four-time Olympian and won a silver medal in the 2016 Rio Olympics. This time she won a Gold for the women’s 55kg weightlifting competition in Tokyo.

 

Many of the winners are also bringing home a cash bonus.

 

The International Olympic Committee doesn’t give prize money, but many countries reward their medalists with a bonus.

 

Hidilyn Diaz has been offered a new house and many millions in cash bonuses, and even the President is giving her a cash bonus from his own pocket.

 

What do other countries award the winners?

 

U.S. Olympians, for example, earned $37,500 for each gold medal won this year, $22,500 for each silver and $15,000 for each bronze. In team sports, each team member splits the pot evenly.

 

 

Other countries, but not all, offer a “medal bonus.” 

 

In Singapore, gold medalists take home $1 million. Silver medalists earn a cool $500,000 and bronze medalists get $250,000. In the 2018 Games, there was just one athlete from Singapore who could capitalize on the big bonus.

 

The Lottery in the UK helps fund  Team GB  expenses and here in the Philippines there is a fund for all competitors.

 

Actual Medal

 

This year’s gold medal is 85mm in diameter and weighs 556 grams with more than 6 grams of gold plating.

Forbes estimates It has a “podium value” of about $570, based on the price of gold and silver.

 

While it’s called the gold medal, it’s technically a silver medal plated with gold; only six grams of the medal is made of gold.

 

If it were made entirely of gold, its value would be about $25,000.

 

While you can put a price tag on the medals, the prestige that comes with competing for your country on the Olympic stage is priceless.

 

And of course, in the case of Hidilyn Diaz she will continue to earn through endorsements and advertising for many years.

 

And all because she can lift weights!!! Well done to her.