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
  • Priscilla Presley carries dead dog at protest for dog meat trade - TMZ
  • Louis Tomlinson reveals why he decided to join X-Factor - Just Jared Jr
  • Is Beyonce pregnant? - TooFab
  • School of Rock on Broadway is coming to an end - The Hollywood Reporter
  • A Batwoman series might be coming to TV! - Just Jared Jr