How much Olympians get paid for winning a medal

The Street

TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how much Olympians get paid for medaling.

Transcript

00:00I'm Conway Gittins reporting from the New York Stock Exchange.

00:02Here's what we're watching on the street today.

00:04Economic anxiety is growing on Wall Street

00:07following the latest jobs data.

00:09The US economy added only 114,000 jobs in July,

00:13and the unemployment rate surprisingly spiked to 4.3%.

00:18That's the highest jobless rate since 2021.

00:21The report is adding to concerns that the Federal Reserve has

00:24waited too long to lower interest rates.

00:27As a result, Wall Street is now betting

00:29on a more aggressive rate cut in September.

00:33In other news, Olympic winners will

00:35return home with more than just the medals around their necks.

00:38Besides the potential for advertising and endorsement

00:41deals, there's some real cash on the line.

00:43According to data compiled by CNBC,

00:46Americans taking home a gold medal get $38,000,

00:49silver gets $23,000, and bronze gets $15,000.

00:54Those cash prices, however, are on the low end of the spectrum.

00:58The biggest cash rewards are given out by Asian nations.

01:01Hong Kong gives its gold medalist $768,000,

01:06Singapore gives out $745,000, and Indonesia

01:10gives out $300,000.

01:12Cash rewards have gone up from recent games.

01:14Hong Kong bumped up its Olympic bonus by 20%

01:18compared to the Tokyo Summer Olympics.

01:20Israel reportedly hiked the prize for a gold medal by 50%

01:23to nearly $271,000.

01:26Host nation France also reportedly

01:28increased its bonus by 23% for top winners to more than $86,000.

01:34But not all medalists get cash.

01:37Some of the more eye-catching bonuses

01:39include free homes, free food for life,

01:41free rides on mass transit for life,

01:44and Indonesia even gave two of its winners five cows.

01:48That'll do it for your daily briefing from the New York Stock

01:50Exchange.

01:51I'm Conway Gittens with The Street.

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