How Much Will Malaysian Olympic Medal Winners Earn This Year?

The stakes are getting higher and higher for this year’s Olympic Games. The 2024 Summer Olympics slated to take place in Paris at the end of the month.

Malaysia has yet to claim the gold in the Olympic games. However, we have come close on a number of occasions.

It is every Malaysian athlete’s dream to receive the coveted Olympic gold medal. Athletes can look forward to some massive rewards should they be victorious.

The Malaysian athlete who manages to bring home the gold stands to receive a condominium worth RM1 million, while three shuttlers could also pocket an additional RM1 million in cash.

Multi-million ringgit cash rewards waiting to be claimed

Luxury condominium

The luxury condominium that is being offered is located at Top Residency, Setia Alam. This reward is being sponsored by Tan Sri Dr Lim Wee Chai who is the founder and executive chairman of Top Glove, as well as the owner of the Top Residency development.

This gold medal cash incentive is open to all 26 Malaysian athletes who will be competing in Paris.

RM1 million in cash

The government is also sponsoring its own rewards for gold medalists. RM1 million is ready and waiting to be paid out to the Malaysian gold medal winner. The government’s National Sports Incentive Scheme will award RM1 million to all gold medal winners.  This will complement the other private sponsored rewards.

Silver and bronze medal winners will be rewarded RM300,000 and RM100,000 respectively

Additional RM1 million in cash

Apart from these multi-million incentives, another the RM1 million cash incentive is being sponsored by Senheng executive chairman Lim Kim Heng. However, only three athletes are eligible to receive this. These are the badminton players Aaron Chia, Soh Wooi Yik, and Chen Tang Jie.

The trio are products of the SS Junior Badminton Talent Scholarship Programme, established in 2012, which had been supported by Senheng.

Chery SUVs

Last month, Chery Malaysia announced any athlete winning the gold medal at the Paris Olympics would receive a Tiggo 8 Pro sports utility vehicle (SUV).

Silver medallists will be receiving the Omoda E5 and bronze medallists stand to claim a Tiggo 7 Pro each.

Malaysia Olympic medallists are also entitled to a lifetime pension on a sliding scale; a gold medal winner will get a RM5,000 monthly pension while a silver and bronze medallist will get RM3,000 and RM2,000 respectively.

How much are other countries paying?

Other countries are also offering generous rewards to their athletes if they manage to bring home the gold. Morocco and Serbia will receive upwards of US$200,000 from their country’s government or national Olympic committee, according to USA Today.

Several other countries, including Italy, who took back 10 gold medals during the Tokyo Olympics, are offering up to US$100,000, as well as a few other perks like an apartment, vacation vouchers, or even more monetary rewards if an athlete breaks an Olympic record.

These incentives are particularly important for athletes competing in less popular events where private sponsorships and endorsements are harder to come by.

The 2024 Summer Olympics in Paris is scheduled to take place from 26 July to 11 August.