What Country Pays Their Olympic Athletes the Most for Winning Medals?

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By Evan Bleier In addition to leaving the 2016 Rio de Janeiro Summer Games with Singapore’s first-ever gold medal after setting a new Olympic record in the men’s 100-meter butterfly with a time of 50.39 seconds, swimmer Joseph Schooling came home with nearly one million dollars. Singapore, which had only won two silvers and two bronzes prior to Schooling’s win since it joined the Olympic fold in 1948, rewards athletes who secure individual gold medals with one million Singapore dollars, about $737,000 in U.S. currency. (The prize money is taxable and the winning recipients are required to retu…

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