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This question is about athlete salaries.
How much do gold medalists make?
Gold medalists make $37,500 for every gold medal won, according to the U.S. Olympic and Paralympic Committee. Silver medalists are awarded $22,500 for every medal and $15,000 for every bronze metal. The prize money is non-taxable unless the athlete reports a gross income that exceeds $1 million.
In most cases, American athletes receive other forms of support such as health insurance and college tuition assistance. Many Olympic-level athletes do not rely on the prize money as their only source of income with many attempting to get sponsorship or endorsement deals.
Only a handful of athletes land deals that are at the multimillion-dollar level. Snowboarder Shaun White received his first board sponsorship when he was 7. After he won his first Olympic gold medal in 2006, Burton (a snowboard manufacturing company) signed him on to a 10-year contract.
Katie Ledecky and Simone Biles both received million-dollar endorsement deals ahead of the summer games. Naomi Osaka reportedly made $55 million from endorsements in a 12-month period and became the highest-paid female athlete ever.
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