Athletes train their whole lives to compete in the Olympics, often forgoing other careers and financial savings for a chance to medal. And some of them go home without much of a career waiting for them.
Billionaire Ross Stevens wants to change that. Beginning with next month’s Milan Cortina Games, he will give $200,000 to every U.S. Olympic and Paralympic athlete, regardless of if they win, in a move to help them gain financial security.
Stevens, the founder and CEO of Stone Ridge Holdings Group, donated $100 million to the United States Olympic & Paralympic Committee (USOPC) for the program in 2025. It was the largest gift in the organization’s history.
The athletes will get the first $100,000 at age 45 or 20 years after their first qualifying Olympic appearance, whichever comes later. Another $100,000 will be given as a guaranteed benefit for their families after they pass away.
“I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,” said Stevens, who is a long-time Team USA supporter.
USOPC supports training costs and awards medalists with $37,500 for gold, $22,500 for silver, and $15,000 for bronze. Athletes often rely on sponsorships for income, which can dry up after they leave their sport.
“These extraordinary individuals have committed their lives to their sport, often at the expense of traditional career paths and financial savings,” said USOPC Chair Gene Sykes at the time of the announcement. “As they approach the end of their competitive journeys—often as young as 25 or 30—many face a daunting reality: the lack of financial savings to support them and their loved ones in their post-athletic life.”
Financial security for Olympic athletes can be a challenge when they retire. Take Lauryn Williams, a track and bobsled champion, who earned $200,000 a year at 20 years old, but ended up interning for $12 an hour at 30.
“I was behind the ball because I was 30 years old and just starting, whereas I had friends who were already doctors and lawyers and well into their careers,” she told CNBC Make It. “I spent all of my 20s competing, so I felt kind of insecure that I didn’t have any real work knowledge.”
Stevens’ awards hope to encourage athletes to participate in more than one Olympics by giving them a $200,000 award for each game they qualify for. This could also lead to more medals for Team USA, as 60% of U.S. medals are won by athletes who participated in previous Games.
Stevens previously donated $100 million to each of his alma maters, the Wharton School and the University of Chicago Booth School of Business, for a fintech center and PhD Program, respectively. He later withdrew his donation to Wharton over the university’s handling of anti-semitism. Stevens’ company, Stone Ridge, will also match employee contributions to the Olympic program dollar for dollar.
Team USA has won more Olympic medals than any other nation, but winning big for the U.S. hasn’t historically come with the same perks as other countries.
Russia and China, which have the second and fifth most Olympic wins, provide retirement stipends or pensions to their Olympians, the Wall Street Journalreported. Australia announced in 2025 they would give each athlete $32,000 AUD per Games for retirement. Countries such as Italy, Hong Kong, and Turkey give out six-figure bonuses for gold medals, but tend to have fewer athletes on the podium.
Other countries go beyond cash. In Kazakhstan, a gold medalist is entitled by law to a three-bedroom apartment, a silver medalist to a two-bedroom, and a bronze medalist a one-bedroom. Poland gives medalists an investment-grade diamond and a painting for gold medals, and South Korea exempts winners from compulsory military service.
The post Every U.S. Olympian is going home with $200,000, whether they medal or not, thanks to a billionaire’s $100 million gift appeared first on Fortune.
