Does the Olympic gold and silver winner also receive a cash prize?

Question

I've been having this argument with my mother about the fact that I personlly dont believe that the opymic winners aside from getting a metal also receive a cash prize. My argument is that they dont receive direct money from the organization, but with the winnings are then able to endorse products, thus receiving money there by for example advertising for nike or Gatorade. Anyways can some one help me clarify this argument with my mother.

Answer 1

It depends on the sport, the country, etc. The usual fee is $25,000 for gold, $15K for silver, and $10K for bronze in the U.S. Other nations have a different system.

Obviously, some will do just fine in other areas like you mentioned. Michael Phelps received a bonus of $1 million from a sponsor, and has a book deal in place.  

Answer 2

in some countries like south korea and china, gov gave athlete money.

Answer 3

The athletes do not win any money from the olympics. Their prize is the medal. However, some countries do reward medaled athletes with money.  Other athletes will receive corporate endorsements which pays good money.