While the International Olympic Committee does not pay prize money to medalists, many countries offer monetary rewards to their athletes for the number of medals they bring home.
If a Team USA athlete grabs a gold, the payday is $37,500; for silver $22,500.
Compare that to Singapore: $737,000 for gold; $369,000 for silver.
Here's how much Olympic athletes earn for winning medals https://t.co/GkZIeQY0UC
— CNBC (@CNBC) July 29, 2021
Australian athletes are on the lower end with a gold medalist getting $15,000; silver $11,000.
U.S. athletes also receive health insurance, access to top-tier medical facilities, and college tuition assistance.