Olympic medalists to receive millions in cash incentives

Filipino Olympic medalists from the 2024 Paris Olympics will receive substantial cash incentives based on their performance, as mandated by Republic Act 10699.

A gold medal winner will be awarded P10,000,000, a silver medal will receive P5,000,000, and a bronze medal will fetch P2,000,000.

Gymnast Carlos Yulo became the Philippines' first male Olympic gold medalist after winning the men's floor exercise and vault finals, earning him at least P20 million in cash bonuses from the government.

He has now won two gold medals, doubling his incentive from the House of Representatives to P6 million (P3 million for each gold).

Megaworld Corp. has pledged an additional P35-million reward to Carlos Yulo, which includes a fully furnished three-bedroom condominium in McKinley Hill worth P24 million with appliances, furniture, fixtures, two balconies, and a parking slot.

Boxers Aira Villegas and Nesthy Petecio each secured a bronze medal in the Paris Games.

The City of Manila is preparing a hero's welcome for Yulo.