Every U.S. Olympic and Paralympic athlete for at least the next six years will receive $200,000, thanks to an American financier.
The unprecedented commitment came from Ross Stevens, founder and CEO of Stone Ridge Holdings Group, who pledged $100 million to provide long-term financial security for Team USA athletes, according to The Wall Street Journal.
Beginning with next month’s Milan-Cortina Winter Olympics, every U.S. Olympian and Paralympian will qualify for the benefit regardless of whether they win a medal.
Unlike many foreign competitors, American athletes receive no government stipends or pensions for representing their country.
The U.S. Olympic & Paralympic Committee, though chartered by Congress, receives no federal funding and relies heavily on sponsorships, broadcast rights, and private donations.
Stevens’ gift is the largest in the organization’s history and highlights a uniquely American model of private-sector support rather than taxpayer-funded rewards.
