Just How Many Millions Is Carlos Yulo Set to Receive?

Carlos Yulo, a Filipino gymnast, has etched his name in history with his stunning performances at the 2024 Paris Olympics. Winning two gold medals, Yulo has not only become a national hero but also secured unprecedented rewards. This article highlights the remarkable achievements of Yulo and the significant incentives he has received, reflecting his impact on the Philippines and the broader sports community.

Yulo’s Olympic Triumphs:

Carlos Yulo's victories in the men's floor and vault exercise finals have made him the first male athlete from the Philippines to win Olympic gold medals. His victories were a testament to his skill, determination, and years of hard work. Winning two gold medals within 24 hours, Yulo set a new benchmark for Filipino athletes on the global stage.

Government and PAGCOR Incentives:

In recognition of his achievements, the Philippine Amusement and Gaming Corporation (PAGCOR) has announced that Yulo will receive a cash incentive of P20 million. This reward is in accordance with Republic Act 10699, which mandates a P10 million reward for each gold medal won by a Filipino athlete in major international competitions. Yulo's coach will also be awarded P10 million, further emphasizing the importance of the support system behind an athlete's success.

Additional Rewards and Honors:

Beyond government incentives, Yulo has been showered with gifts and pledges from various sectors. The House of Representatives has promised an additional P6 million, while business leaders and companies across the Philippines have offered a multitude of rewards. One of the most significant is a fully furnished three-bedroom condominium worth $553,345 (32 million Philippine pesos) in Taguig City, gifted by property developer Megaworld Corp. Originally, Yulo was to receive a two-bedroom unit, but his double gold win led to an upgrade.

Community and Corporate Support:

The support for Yulo extends beyond monetary rewards. He is being honored with a "hero's welcome" in Manila, his hometown. Businesses have also offered lifetime supplies of food, including ramen and grilled chicken (chicken inasal), as well as free services like colonoscopies after the age of 45. Yulo has even been offered two free café franchises, along with brand ambassadorship opportunities, reflecting his growing influence beyond the gymnastics arena.

Carlos Yulo's historic achievements at the 2024 Paris Olympics have not only brought pride to the Philippines but have also set a new standard for how athletes are celebrated and rewarded in the country. The extensive recognition and rewards he has received highlight the significance of his victories and the hope he represents for future generations of Filipino athletes. As Yulo continues to inspire, his legacy is already well established, both in the world of gymnastics and beyond.