Ross Stevens Donates $100M to Pay Every US Olympian and Paralympian $200k
9 days ago
- #Philanthropy
- #Athlete Compensation
- #Olympics
- Olympians' earnings depend on their country; the IOC only awards medals, not cash prizes.
- Many countries provide monetary rewards for medal-winning athletes, but the U.S. government does not.
- Billionaire Ross Stevens will give $200,000 to every U.S. Olympic and Paralympic athlete starting with the Milan Cortina Games, regardless of medal wins.
- Half of the $200,000 will be disbursed 20 years after their first Olympic appearance or at age 45, whichever is later, with another $100,000 as a family benefit posthumously.
- Stevens donated a record-breaking $100 million to the USOPC to support athletes' financial security.
- The Stevens Financial Security Awards aim to provide financial stability for athletes post-retirement.
- USOPC Chair Gene Sykes praised the initiative, highlighting athletes' sacrifices and the lack of financial savings after their competitive careers end.
- The awards are designed to act as a financial safety net and a springboard for athletes' futures beyond sports.