Two-time gold medalist Carlos Yulo flips his life—literally.
Ever wondered what it was like to be an Olympic podium finisher in the Philippines?
Beyond the glory and accolades, securing a podium finish at the Olympics isn’t just about basking in the spotlight or making your country proud.
Earning an Olympic medal is not just a milestone in an athlete’s career but could also be life-changing financially.
Under Republic Act 10699, known as the National Athletes and Coaches Benefits and Incentives Act, Olympic medalists are eligible for monetary rewards based on their medal placement.
Gold medalists will be awarded P10 million, silver medalists will receive P5 million, and bronze medalists will earn P2 million.
In April, Philippine Olympic Committee President Abraham “Bambol” Tolentino announced that gold medalists will also be awarded a house and lot in addition to their cash prize.
“If I gave houses and lots to the medalists in the Tokyo Olympics, why can’t and won't I do it again for Paris?” said Tolentino.
“Our gold medalists, one or more, in Paris fully deserve this reward for their hard work, dedication, and love for sport and country,” he added.
In 2021, when Hidilyn Diaz secured the country’s first-ever Olympic gold medal, she was awarded approximately P56.5 million in cash incentives, which included the P10 million mandated by law.
Additionally, she received an extra P5 million from the Philippine Sports Commission, as RA 10699 provides further rewards for Filipino athletes who exceed national records or rankings in significant international competitions such as the Summer Games.
All of these rewards are in addition to the cash bonuses that medalists may receive from private organizations and various groups.