Top Stories

How Much Prize Money Do USA Olympians Get for Medal Wins?

How Much Prize Money Do USA Olympians Get for Medal Wins?

The 2018 Winter Olympics in PyeongChang, South Korea are underway and fans of the events may be wondering…are Olympians paid when they win?

According to Team USA, athletes will receive $37,500 for each gold medal earned, $22,500 for silver medals earned, and $15,000 for bronze medals earned. If the sport is a team sport, the earnings are split.

In the past, the money won by athletes used to be taxed by the government. In late 2016, President Obama signed a bill which then prohibited the IRS from taxing prize money. Some athletes are taxed though, if they make over $1 million per year from all of their earnings.

Just Jared on Facebook

JJ Links Around The Web

Getty
  • George Lopez got into a fight with a Trump supporter at Hooters - TMZ
  • This singer is taking a break from social media - Just Jared Jr
  • Busy Philipps is spilling set secrets from Dawson's Creek - TooFab
  • This comedian is coming to Daniel Craig's aid - Lainey Gossip
  • Little Mix just released the track list for their upcoming album - Just Jared Jr
  • Taylor Swift isn't secretly engaged - Gossip Cop