00:00Every U.S. Olympian and Paralympian will take home $200,000 after the Milano-Cortina Games,
00:06even if they don't medal.
00:08Billionaire Ross Stevens recently donated $100 million to the United States Olympic and Paralympic Committee,
00:15the biggest donation in the organization's history, to help athletes build long-term financial security.
00:21The athletes will get the first $100,000 at age 45 or 20 years after their first qualifying Olympic appearance,
00:28whichever comes later, and another $100,000 will be given as a guaranteed benefit for their families after they pass away.
00:36Financial security for Olympic athletes can be a challenge when they retire,
00:40since sponsorships can dry up after they leave their sport.
00:44Team USA has won more Olympic medals than any other nation,
00:47but winning big for the U.S. hasn't historically come with the same perks as other countries.
00:52Russia and China provide retirement stipends or pensions to their Olympians,
00:56and Italy, Hong Kong, and Turkey give out six-figure bonuses for gold medals.
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