Who is providing $200,000 to U.S. Olympians?

Billionaire Ross Stevens is providing $200,000 to each U.S. Olympian and Paralympian for financial security.

When will U.S. Olympians receive their $200,000 prize money?

The first $100,000 is given at age 45 or 20 years after their first qualifying Olympic appearance, whichever is later, with another $100,000 for their families after death.

Are the $200,000 awarded to U.S. Olympians taxable?

The $100,000 distributed during an athlete's lifetime is treated as taxable income, unlike medal winnings.

Home / Sports / Beyond Medals: Olympians Secure $200K

Beyond Medals: Olympians Secure $200K

12 Feb

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Summary

US Olympians receive $200,000 post-career financial security.
Funds are distributed at age 45 or 20 years after first appearance.
Tax implications vary significantly by state and athlete income.

Billionaire Ross Stevens is ensuring financial security for U.S. Olympians and Paralympians by pledging $200,000 to each.

The award involves two distributions: $100,000 received by the athlete at age 45 or 20 years after their first qualifying Olympic appearance, whichever comes later. The remaining $100,000 will be provided as a guaranteed family benefit after the athlete's passing.

This initiative is funded through the 2032 Olympics in Brisbane, Australia. Unlike medal winnings, the $100,000 given during an athlete's lifetime is considered taxable income. Analysis indicates this could result in a post-tax boost of $48,350 to $73,176 annually, depending on residency and income.

For example, a barista in Florida could see a take-home increase of $73,176, while a high-earning skier in California might only see an additional $48,350 after taxes.

Stevens stated his belief that financial insecurity should not hinder elite athletes. This significant contribution aims to provide stability, as many Olympians face career sacrifices and fluctuating sponsorship income after their competitive careers conclude.

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