Everything Odd About the Olympics

How much can you sell a gold medal for?

Jul 30, 2024

Ahhh the Olympics! You better believe the whole time I’m watching the summer games, I’m thinking to myself:

How much do these athletes make? AND How can people make money off the Olympics?

Your girl over here likes to remind you that you can make money doing anyyything — Hello, I’m a hired bridesmaid after all.

So let’s talk about all-things Olympics and the oddness around how much you can make as an athlete or a side-hustler.

Ps. If you were to get a gold medal at the Olympics, you could sell it for $15-$30k++ after if you wanted the cash.

Love,

Jen Glantz

💻 But First: My Tech Stack

I’ve been eyeballing a lot of X threads of people’s tech stacks — the tools they swear by for their business and life. So I decided to keep a running list of my own right here. I’ll update this each week with the best tools I use as a solopreneur:

Social Media & Marketing:

Tailwind: Makes it super easy to schedule 100+ pins a month on Pinterest.
Flodesk: Marketing emails that are easy to design and send.
Event Share: Lets all guests upload photos to one spot at/after an event
Any Email Finder: Gives you anyone’s email. I use this for outreach.
48-Hour Logo: A speedy fast way to get logo designs for your bizz.
ReplyGuy: A service that mentions your bizz on Reddit and Twitter.

Website:

Showit: Both of my websites are designed on this platform.
InstaWP: A fast and easy way to build a Wordpress website.
Weebly: Free website builder that requires zero coding or skills
Opt-in Monster: Helps you capture leads on your website in a handful of ways
Swift Brief: Scans your website and suggests + writes SEO blog posts for it.

Content Creation:

Fiverr: Outsource work and get quick results. I use it for editing, social media, and design.
Typefully: Writes you catchy, personalized, and engaging Linkedin posts
Hemingway: Edits your writing in real-time to make it perfect and professional

Random but Good:

Toggl: A time-tracking tool that organizes how you spend your minutes.
Cratejoy: My go-to last minute gift for a birthday or holiday.
Classpass: Not tech but it’s part of my life stack. I take workout classes using this app.

Make Money Stack:

Poshmark: I sell clothes and other items around the house
Etsy: Dreaming up what to sell on this platform.
Survey Junkie: Get paid to take surveys
Howl: How I get affiliate/brand deals as a creator

The Unsung Heroes: Odd Jobs at the Olympics

Behind the scenes of the Olympic spectacle, an army of workers performs crucial roles that often go unnoticed:

- Janitorial Staff:

These swift-moving cleaners are the unsung guardians of athlete safety. During the 2016 Rio Olympics, a team of 600 cleaners worked around the clock to maintain 44 venues. Their job goes beyond mere tidiness; in sports like volleyball or basketball, they sprint onto the court between plays, armed with mops to eliminate slippery sweat patches that could cause injuries.

Interesting fact: At the 2012 London Olympics, cleaners used an estimated 150,000 mop heads throughout the Games.

- Pool Scuba Divers:

These underwater specialists do more than fish out dropped goggles. They're responsible for maintaining the complex system of underwater cameras that capture those breathtaking shots of swimmers in action. During the 2008 Beijing Olympics, divers made critical last-minute repairs to pool cameras just hours before the swimming events began.

Fun fact: Olympic pools contain roughly 3 million liters of water, and divers must navigate this vast underwater world while remaining invisible to TV cameras.

- Ball People:

These quick-footed individuals undergo rigorous training to perfect the art of swift, silent ball retrieval. At Wimbledon, aspiring ball people must pass a test where they're required to stand still for 30 minutes without moving.

Did you know? At the 2020 Tokyo Olympics, ball persons used radio-controlled cars to retrieve javelins and hammers in throwing events, showcasing how technology is changing even these traditional roles.

- Stuff Carriers:

Officially known as "Olympic Village Assistants," these individuals are the Swiss Army knives of the Olympic village. They don't just carry equipment; they serve as guides, translators, and even impromptu psychologists for stressed athletes. During the 2016 Rio Olympics, one assistant famously helped reunite a Uruguayan rower with his lost passport just hours before his event.

- Lifeguards:

Yes, even Olympic swimmers need lifeguards. These highly trained professionals are prepared for everything from sudden medical emergencies to equipment malfunctions. During the 2012 London Olympics, a lifeguard made headlines by assisting a Syrian swimmer who developed cramps during a race.

Surprising fact: Olympic lifeguards undergo special training to spot distress in elite athletes, who may not display typical signs of drowning.

The Financial Reality for Olympic Athletes

Going to the Olympics isn’t free. It costs money — a lot of money. I can’t help but think about how there are amazing athletes out there who won’t ever make it to an Olympics because they didn’t have the funds. But here are some interesting stats on how to fund a trip to the Olympics:

- Olympic Scholarships:

The IOC's Olympic Solidarity program offers a lifeline to athletes from nations with limited resources. For the Paris 2024 cycle, the program has a budget of $590 million, a 16% increase from the previous cycle. These funds support not just training, but also education and career development for athletes.

- National Funding:

The disparity in national funding can be stark. While the UK's National Lottery funded athletes to the tune of £345 million for the Tokyo Olympic cycle, many countries struggle to provide any support at all.

Interesting comparison: Australia's "Winning Edge" program provides about AU$100 million annually to Olympic sports, while India, with a population 50 times larger, budgeted only about $30 million for its Olympic program in 2021.

- Medal Bonuses:

The variation in medal bonuses between countries is enormous. While Singapore's million-dollar gold medal bonus made headlines, many countries offer no financial reward at all. Some nations get creative: In 2016, Germany offered athletes a lifetime supply of free beer for winning gold.

Fun fact: Some countries offer unusual non-cash prizes. In 2012, Belarus promised Olympic medalists an unlimited supply of sausages.

- Sponsorships and Endorsements:

While top athletes can earn millions, many Olympians struggle to secure any sponsorship. The rise of social media has created new opportunities, with some athletes turning to platforms like GoFundMe to finance their Olympic dreams.

- Training Costs:

The financial burden of reaching Olympic level is staggering:

- Equestrian: Can exceed $200,000 per year, including horse care and transportation

- Bobsled: A new sled can cost up to $100,000

- Archery: A world-class bow and arrow set can cost $5,000

Did you know? Some winter sports athletes have resorted to buying their equipment second-hand from retired Olympians to save money.

Olympians with Day Jobs

Many Olympians lead double lives, balancing intense training with regular employment:

- Pita Taufatofua (Tonga, Taekwondo/Cross-country skiing): Beyond his famous shirtless flag-bearing, Pita works as a UNICEF ambassador and youth counselor.

- Quanesha Burks (USA, Long Jump): Dubbed the "McDonald's Olympian," Burks worked the drive-thru to fund her training before making it to Tokyo 2020.

- Aliphine Tuliamuk (USA, Marathon): This elite runner is also a successful entrepreneur, hand-knitting and selling "Allie Beanies" online.

- Shaun White (USA, Snowboarding): The "Flying Tomato" has leveraged his Olympic success into a business empire, including a snowboard gear line and music festival.

- Mirai Nagasu (USA, Figure Skating): Between Olympic appearances, Nagasu worked as an ice rink custodian and later as a New York Times intern.

Interesting stat: A survey before the 2018 Winter Olympics found that nearly 50% of American Olympians earned less than $25,000 annually from their sport.

The Olympics create unique business opportunities:

- Olympic Tour Guide:

Imagine offering virtual reality tours of past Olympic sites, allowing users to "walk" through ancient Olympia or relive iconic moments in Olympic history. Companies like "OlympicVR" could combine cutting-edge technology with expert storytelling to bring Olympic heritage to life.

Potential market: With over 3 billion viewers for the Tokyo Olympics, there's a vast audience interested in Olympic experiences.

- Athlete Branding Consultant:

As personal branding becomes increasingly important, specialist consultants could offer services tailored to athletes' unique needs. This might include social media management, sponsorship negotiations, and personal brand development.

- Olympic-focused Content Creator:

There's a growing appetite for niche Olympic content. Creators could focus on lesser-known Olympic sports, behind-the-scenes athlete preparation, or the cultural impact of the Games on host cities.

- Sports Technology Startups:

Innovations in training tools, performance tracking, and fan engagement platforms could revolutionize the Olympic experience. Imagine AI-powered coaching assistants or augmented reality apps that let fans "compete" alongside Olympians.

Market potential: The sports technology market is projected to reach $30 billion by 2024.

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