Billionaire Ross Stevens wants to change that. Beginning with next month’s Milan Cortina Games, he will give $200,000 to every U.S. Olympic and Paralympic athlete, regardless of if they win, in a move to help them gain financial security.
Stevens, the founder and CEO of Stone Ridge Holdings Group, donated $100 million to the United States Olympic & Paralympic Committee (USOPC) for the program in 2025. It was the largest gift in the organization’s history.
The athletes will get the first $100,000 at age 45 or 20 years after their first qualifying Olympic appearance, whichever comes later. Another $100,000 will be given as a guaranteed benefit for their families after they pass away.
“I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,” said Stevens, who is a long-time Team USA supporter.
USOPC supports training costs and awards medalists with $37,500 for gold, $22,500 for silver, and $15,000 for bronze. Athletes often rely on sponsorships for income, which can dry up after they leave their sport.
Stevens’ awards hope to encourage athletes to participate in more than one Olympics by giving them a $200,000 award for each game they qualify for. This could also lead to more medals for Team USA, as 60% of U.S. medals are won by athletes who participated in previous Games.
Other countries go beyond cash. In Kazakhstan, a gold medalist is entitled by law to a three-bedroom apartment, a silver medalist to a two-bedroom, and a bronze medalist a one-bedroom. Poland gives medalists an investment-grade diamond and a painting for gold medals, and South Korea exempts winners from compulsory military service.
