Carlos Yulo, who made history by becoming the second-ever Olympic gold medalist for the Philippines, is set to receive numerous rewards following his victory in the men’s floor exercise event at the 2024 Paris Olympics.
Under Republic Act 10699, which mandates cash incentives for Filipino athletes who win Olympic medals, Yulo will receive P10,000,000 for his gold medal achievement. This law, signed in 2015, ensures substantial financial rewards for medalists, with P5,000,000 for silver and P2,000,000 for bronze in individual events.
In addition to the cash incentive, Yulo will be honored with an Olympic Gold Medal of Valor from the Philippine Sports Commission (PSC). This prestigious recognition celebrates his outstanding contribution to Philippine sports.
The Philippine Olympic Committee has pledged to reward Yulo with a house and lot, continuing the tradition established during the Tokyo Olympics three years ago, where medalists were similarly rewarded.
A property development company has also committed to providing Yulo with a condominium unit, adding to the list of substantial rewards he will receive for his gold medal performance.
Moreover, the House of Representatives will grant Yulo an additional P3 million. Representative Elizaldy Co, chairman of the House Committee on Appropriations, stated, “In recognition of his historic accomplishment, the House of Representatives is honored to reward Carlos Yulo P3,000,000. This reward reflects our support for his continued success and our commitment to fostering Filipino talent on the international stage.”
Carlos Yulo’s victory not only marks a significant milestone in his career but also brings with it a host of rewards and recognitions, reflecting the nation’s pride and support for its athletes. His achievements echo those of Hidilyn Diaz, the Philippines’ first Olympic gold medalist, who also received extensive rewards from both government and private sectors following her historic win in Tokyo. Yulo’s triumph is set to inspire future generations of Filipino athletes.