A wealthy American hedge-funder is bankrolling American Olympians by giving them a massive $200,000 each for making the cut.
Despite the US being the title holder of the most Olympic medals won, with over 3,000, its compensation package is rather dismal compared to other countries.
American athletes take home just $38,000 for a gold medal, $23,000 for silver and $15,000 for bronze. Meanwhile athletes from countries like Hong Kong and Singapore pocket $700,000 for bagging a gold at the games.
The lower rewards for Americans are largely due to the fact the US Olympics and Paralympics Committee (USOPC) is independent from the government, meaning it receives zero federal funding to help pay for its athletes. It largely relies on media rights contracts, sponsorships, and donors.
But hedge-funder Ross Stevens, the founder of Stone Ridge Asset Management, is set to change US Olympians lives forever.
Stevens, a long-time supporter of Team USA, pledged a $100 million to the committee. It’s the largest gift the USPOC has received.
The funding, known as the Steven Awards, will compensate each Olympian and Paralympian with $200,000 for every Olympics the athlete participates in in a bid to support them long after retirement.
However the funding, which starts with those participating in the winter games in Milan that kicked off yesterday and will last until 2032, does come with a catch.
Athletes will have to wait a whopping 20 years, or until they reach the age of 45, whichever is longer, before they receive the first $100,000. This will be paid out in $25,000 payments over four years.
Unlike other countries, US Olympians don’t take home as much money as other countries for bagging a medal. Alysa Liu of Team USA is pictured at a figure skating training session this week ahead of the Milano-Cortina 2026 Olympic Winter Games
US athletes only takes home $38,000 for a gold medal, $23,000 for silver, and $15,000 for bronze. Hong Kong and Singapore athletes pocket $700,000 for a gold medal win
Ross Stevens is handing out $200,000 to every athlete taking part in this year’s games regardless of if they win a medal
The remaining $100,000 will be given to a beneficiary of their choosing but not until the athlete dies, the USOPC said.
If athletes compete in more than one Olympics then they’re set to pocket even more. For example if they participate in three Olympic cycles, they would receive $600,000 in total compensation.
The reward system was designed by Stevens, with the idea the two payments will provide ‘financial security for all,’ the USOPC said in a statement.
‘The Olympic and Paralympic Games are the ultimate symbol of human excellence. I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence,’ Stevens said in a statement.
‘The Stevens Awards honor the sacrifices they have made on behalf of all Americans while inspiring the development of their dreams in the post-games chapter of their lives.’
USOPC chair Gene Sykes said: ‘Because of Ross’ extraordinary generosity and philanthropic creativity, we can create more than a financial safety net. We can build a springboard that will propel these athletes to even greater heights beyond their Olympic and Paralympic careers.’
Stevens philanthropic work focuses on ‘human excellence and human rights,’ according to the biography on his hedge fund website.
He previously established the Stevens Center for Innovation in Finance at the University of Pennsylvania, where he is an alumni of its famous Wharton business school.
Lindsey Vonn is pictured at the Women’s Alpine Downhill training run during the 2026 Winter Olympics on Friday. She competed in the training run one week after tearing her ACL
Athletes, like Ethan Cepuran, pictured, who is competing in Milan, can also receive additional payments of $200,000 for attending multiple games
Stevens was approached by the USOPC for his financial expertise on how to support athletes after their careers ends, the Wall Street Journal reported.
Although most Olympians’ prize money is not taxed by the IRS as long as their adjusted gross income is under $1 million, the Stevens Awards will more than likely be taxed in the year it is received.
Beneficiaries will also have to pay taxes on the $100,000 they receive after the athlete dies.
Although the US reigns supreme in the summer Olympics, it is not the highest scorer during the winter version.
In the 2022 winter games in Beijing, American Olympians brought home a total of 25 medals, including eight gold, 10 silver, and seven bronze.
The US is taking 232 athletes to the games this year, which is the largest winter team ever. The youngest athlete is 15, while the oldest is 54.
Nearly 100 American athletes are returning to the games this year, with seven of them being four-time Olympians, including skier Lindsey Vonn.
Vonn took to the slopes yesterday for the first time since tearing her ACL last week.
Half of the $200,000 will be given to an athlete’s chosen beneficiary after their death. Although Sha’Carri Richardson (pictured) won’t benefit for her participation in the 2024 Paris Olympics, she can benefit from future ones
Ten of them are returning to their third games and 22 are returning for a second time.
Stevens’ net worth is not publicly available however his firm, founded in 2012, has $31 billion assets under management and $8 billion invested in its own strategies, according to its website.
Daily Mail reached out to Stevens for further comment.
