The U.S. is one of the only countries that doesn’t directly fund its Olympians. Here’s how athletes make a living instead.
MILAN, Italy — The United States has more gold medalists than any other country in the world, so it may come as a surprise that the nation doesn’t directly fund any of its athletes’ training or competition expenses.
Virtually every other major world power offers either retirement stipends, pensions, or grants to its Olympians, according to reporting from the Wall Street Journal. That’s not the case for the U.S. Olympic and Paralympic Committee, which receives no federal funding and is forced to rely on other payment streams for its athletes.
Most of the USOPC’s funding comes from sponsorships and broadcast licensing, while most of their expenses go toward supporting athletes and the organizations responsible for training them through grants rather than direct payments. The USOPC said it provided around $16 million in grants for stipends of 1,565 athletes in 2022.
“The Olympic and Paralympic Games-year operating surplus allows the USOPC to run a deficit in non-Games years and provides a consistent level of support for athletes during each year of the four-year quadrennial budget cycle,” the Committee said on its website. “Under that cycle, both revenue and expenses, which have a direct impact on supporting Team USA athletes, generally increase in Games years versus non-Games years.”
While athletes do get paid by the USOPC for medal wins, they will also be getting a new revenue stream thanks to a billionaire’s donation.
Ross Stevens, the founder and CEO of Stone Ridge Holdings Group, donated $100 million to start a program that will give $100,000 payments and matching life insurance benefits for anyone who earns a spot on Team USA, starting in 2026 and going at least through the 2032 Games.
“I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,” Stevens said in a statement when the donation was announced.
How much does US Olympic medal winners get paid?
As part of “Operation Gold,” an initiative launched in 2017 by USOPC, U.S. Olympians who reach the medal podium receive payments. The payments are reportedly the same as they were for Paris: $37,500 for every gold medal won, $22,500 for silver and $15,000 for bronze.