Olympic Gold Medal Prize Money – Tokyo 2020

Olympic Gold Medal Prize Money - Tokyo 2020 - How much is a gold medal win worth?

Olympic Gold Medal Prize Money - Tokyo 2020
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How much is a gold medal win worth?

Olympic Gold Medal Prize Money - Tokyo 2020

A gold medal at the Olympic Games is arguably the greatest prize in sport.

Luckily for golfers, they can now compete for gold, silver and bronze as the sport is back in the Olympics for the second time since 1904.

At the 2016 Rio Olympic Games, Justin Rose won gold for Team GB with Henrik Stenson winning silver for Sweden and Matt Kuchar taking the bronze for Team USA.

In the women's tournament, Inbee Park won gold for South Korea, Lydia Ko won Silver for New Zealand and China's Shanshan Feng won bronze.

So how much is a gold medal worth to the competitors?

There is actually no official prize money from the International Olympic Committee but some nations do pay their athletes for winning medals.

Many sports also receive funding from their countries, although most nations will fund golf through other areas like the R&A, USGA and other home unions.

Great Britain doesn't offer any funding for golf in the Olympics and reportedly doesn't pay for medals, so Rose will not have earned any prize money from his stunning Rio performance.

However, saying that, the boost in profile from the triumph may have netted him bonuses from his sponsors and may have also enticed new sponsors too.

The added profile of being Olympic champion may have also earned him appearance fees for playing in certain tournaments, as having the gold medallist play in your event is a selling point that can be used in marketing to help sell tickets and grow TV viewership numbers.

Related: Does Olympic golf really matter?

It is reported that the USA pays $37,500 to gold medals, $22,500 to silver medalists, and $15,000 for those who win bronze.

With huge multi-million dollar net worths, the likes of Collin Morikawa, Justin Thomas, Xander Schauffele and Patrick Reed will barely notice that cash if they were to win a medal.

For example, Morikawa won over $2m for his Open Championship victory and has accumulated over $14m on the PGA Tour alone since turning professional in 2019.

And that's not taking into account any of his sponsorship revenue from the likes of TaylorMade, adidas, Omega, Zurich, Therabody, US Bank and Grant Thornton.

So a simple way of putting it is that there is no real prize money at the Olympic Games and that's very rare in the rich world of golf.

The athletes are there competing for their countries and the greatest prize in sport - the gold medal.

Elliott Heath
Senior Staff Writer

Elliott Heath is our Senior Staff Writer and has been with Golf Monthly since early 2016. He graduated in Sports Journalism in 2016 and currently manages the Golf Monthly news, courses and travel sections as well as our large Facebook, Twitter and Instagram pages. Elliott has interviewed some huge names in the golf world including Sergio Garcia, Thomas Bjorn, Bernd Wiesberger and Scotty Cameron as well as a number of professionals on the DP World and PGA Tours. He has also covered the 2022 Masters from Augusta National as well as three Open Championships including at Carnoustie in 2018 when he was inside the ropes with Tiger Woods. He has played 31 of our Top 100 golf courses, with his favourites being both Sunningdales, Woodhall Spa, Old Head and Alwoodley. He currently plays at West Byfleet Golf Club in Surrey, where his handicap index floats anywhere between 4-6. His golfing highlight is making albatross on the 9th hole on the Hotchkin Course at Woodhall Spa, and he has made one hole-in-one.

Elliott is currently playing:

Driver: Honma TR20

3 wood: TaylorMade SIM2 Max

2 iron: Mizuno MP-18 MMC Fli-Hi

Irons: Mizuno MP5 4-PW

Wedges: Cleveland RTX ZipCore 50, 54, 58

Putter: Odyssey White Hot OG #5

Ball: Titleist Pro V1x