Individual Sports50,000 naira for a gold medal25,000 naira for a silver medal10,000 naira for a bronze medalTeam Sports/Relays$50,000 for a gold (family splits money)$25,000 for a silver (family splits money)$10,000 for a bronze (family splits money)For example: In the 2008 Olympics Michael Phelps got $37,500 for realys and $250,000 for individual events. So a the end of the 2008 Olympics Michael Phelps had made $287,500!!!!!!!!!!
He gets endorsements from companies.
maybe 2.5 billion
No official amount he wins money and gets sponsored i know that at the 2008 Olympics he will get 1 Million from Speedo if he wins 7 gold medals
how man bronze medals were won in the Beijing Olympics 2008
Around $10 million.
65 Million including endorsements
It increased the amount of tourism who went there and got more money from tourism.
Micheal phelps uses his money mostly to support his family. He also uses it to buy swimming equipment. He donates a lot every year to charities. Then the rest is for pleasure.
one word "Family" His Dad is Bruce Jenner ... who won several gold medals in the Olympics back in the 80s ... he was on the wheaties box and everything ... his pops probably made so much money from endorsements ... think Michael Phelps before the bong !!