Getty Philippines' Carlos Edriel Yulo celebrates winning the gold medal at the end of the artistic gymnastics men's vault final during the Paris 2024 Olympic Games.
Simon Biles‘ incentives for her triple gold medal in the 2024 Paris Olympics pale compared to the other gold medalists, especially when pitted against the Philippines’ double gold medalist Carlos Yulo.
Biles’ official payout from the US Olympic Committee will amount to $135,000 ($37,500 per gold medal and $22,500 for silver, according to Business Insider).
In contrast, Yulo’s incentives for winning the Philippines’ only gold medals in Paris, and being the first Filipino male athlete to win gold in the Olympics, have already reached over $1.5 million and still counting.
Carlos Yulo made HISTORY becoming the first male athlete to EVER win gold at the Olympics for the Philippines! 🇵🇭🥇
He also earned the country’s first Olympic medal in gymnastics. #ParisOlympics
Carlos Yulo Set for Life
For starters, Yulo will receive $350,000 for winning two gold medals from the Philippine government’s sports agency as mandated by law. His coach and trainers will receive $175,000.
One of Yulo’s patrons, the MVP Sports Foundation, will also give another $350,000, per Manila Standard. The Philippine Congress also pledged a $106,000 cash incentive, according to Philstar.com.
Megaworld, a real estate giant in the Philippines, will give Yulo a luxurious 3-bedroom fully furnished condominium in the upscale area of Taguig City worth $560,000 plus $53,000 in cash. Another real estate developer, Century Properties, will also add a house and lot worth $104,000.
Arena Plus, a local sports entertainment and betting app where Yulo is one of its ambassadors, has also pledged $87,000. Bounty Fresh Group Holdings Inc., another big sports patron in the Philippines, announced a $52,000 cash reward. SM Group, which operates a chain of the biggest malls in the Philippines, pledged $18,000 worth of products from their retail stores.
The Manila Standard also reported several smaller companies and restaurants have pledged various rewards ranging from business franchises, lifetime meal vouchers, including unlimited buffet and drinks, to free scholarships, engineering design services and a bizarre reward: lifetime free gastrointestinal and colonoscopy consultations.
Philippines’ legendary boxer Manny Pacquiao also pledged an undisclosed cash incentive, according to Spin.ph.
More incentives are coming as Yulo heads home to the Philippines to a hero’s welcome and a “Congressional Medal of Excellence” for his historic feat.
Simon Biles to Bank on Endorsements
A sports fan commented on X, formerly Twitter, that Biles and other US Olympians should be mad if they learn about Yulo’s and the other Asian athletes’ incentives.
If i was an American olympic athlete and i learned what asian medallists got after getting their medal i would be so….so mad
According to data collected by sports experts from Live Sports on TV, Singapore offers the biggest cash incentive from the government amounting to $737,000 followed by Kazakhstan’s $250,000. Italy is the only non-Asian country in the top five with their $213,000 incentive for every gold landing at the fourth spot.
The Philippines is at No. 5, but should easily top of the list if they also add the other incentives from private companies.
Emil Sturesson, Head of B2Cat Live Sports on TV noted that Biles will have to bank on potential multimillion-dollar endorsements that would dwarf the $135,000 reward for her multi-medal run in these Summer Games.
“This stark contrast highlights how some countries, like Singapore with its six-figure bonuses, prioritize direct financial incentives for Olympic success, while the U.S. system relies more on athletes’ individual marketability, Sturesson said, per Albany Herald. “Ironically, despite leading the all-time Olympic medal count, the U.S. lags behind many nations in terms of direct financial rewards for its athletes.”
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The Staggering Difference Between Carlos Yulo and Simone Biles’ Olympic Gold Incentives