Nevermind the fact that Singapore has never actually won an Olympic gold. The tiny island’s $804,010 prize (S$1 million) for an Olympic gold medal will definitely keep Singaporeans trying!
This week, Singaporean Feng Tianwei won bronze for table tennis, awarding her a cool $201,000. Not a bad National Day present for Feng (today is Singapore’s birthday!). Silver medalists would get about $402,000. The money comes from the Singapore government’s Multi-Million Dollar Awards Programme, which doles out big bucks for anyone who wins a medal for the country.
Still, while the US by far doesn’t have the biggest payout for Olympic medals, American athletes are more likely to make mega moola from sponsorships. Michael Phelps, for instance, has an endorsement with Nike that’s apparently worth $50 million.
Maybe it’s for that reason that the top four highest payouts for an Olympic gold medal are all Asian. Check out the list below — I guess these South East Asian countries really want some gold!
Top 4 countries with highest payouts for an Olympic gold medal
1. Singapore — $804,010
2. Philippines – $340,900
3. Malaysia – $307,000
4. Thailand – $300,000