While it may feel safe to assume Olympic athletes rake in the dough much like other celebrities and public figures, the reality is that many of them hold on to several jobs just to make ends meet. The athletes who represent the $2 billion global spectacle often take home at most tens of thousands of dollars, and many earn nothing directly from competing.
Plus, the cost of training for the Olympics can range from tens of thousands of dollars a year to more than $100,000 for some sports. Annual training costs in sports like skiing and skating can run as high as five or even six figures once flights to competitions, equipment, ice time, coaching, physical therapy, and insurance are factored in. And the International Olympic Committee does not pay athletes to compete: Athletes go home only with money from their country, which varies widely depending on their home country and the medal they receive.
For example, a gold medalist in Singapore can expect to take home nearly $750,000, but one from the U.S. banks only $38,000, according to the National Olympic Committee and other local reports analyzed by CNBC in 2024. Those figures also don’t account for taxes and other fees, which further reduce athletes’ earning potential.
