Billionaire Ross Stevens Donates $100 Million to Pay All U.S. Olympians $200,000 Each
By
bookofjoe
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Summary
Billionaire financier Ross Stevens is donating $100 million to create a fund that will pay $200,000 to every U.S. Olympic and Paralympic athlete competing in the upcoming Milan Cortina Olympics, regardless of whether they win medals. This addresses the fact that while many countries pay their athletes for medals, the U.S. government does not provide any financial compensation to Olympians. Stevens believes financial insecurity should not hinder elite athletes from achieving excellence.
Key quotes
· 4 pulledI do not believe that financial insecurity should stop our nation's elite athletes from breaking through to new frontiers of excellence
Starting with the upcoming Milan Cortina Olympics, he will give $200,000 to every U.S. Olympic and Paralympic athlete—even if they don't win a medal
How much Olympians get paid depends entirely on the country they compete for
The International Olympic Committee (IOC) does not give out cash prizes, only a medal, but many countries do award their athletes based on whether or not they won a gold, silver, or bronze
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