Ion Tiriac is a multi-sport athlete from Romania. Having played ping-pong when he was a child as well as tennis and ice hockey, Tiriac is undoubtedly talented. He made his first Olympic appearance in 1964 as an ice hockey player at the Winter games. Following his ice hockey career, he moved on to tennis and competed in many tournaments, but never made it to the Olympics. Currently, Ion Tiriac is the current president of the Romanian Tennis Federation. As a result, Forbes wrote in an article that Tiriac is one of the richest businessmen in Romania with a net worth of 1.3 billion dollars, but it is important to note that his net worth is not all from his athlete status.
Floyd Mayweather, Jr is one of the biggest names in the boxing world. He is not only a UFC champion, who beat former champion Connor McGregor, but he is also an Olympic athlete. He competed in the 1996 Summer Olympics. While he did not win gold (he ended up winning a bronze medal) Floyd Mayweather continues to win match after match. As a result, Mayweather's net worth adds up $505 million dollars, making him one of the highest paid athletes of all time. While he only made one Olympic appearance, it does not take away from the fact that Mayweather is a former Olympic athlete and great boxer.
Roger Federer is arguably one of the most famous male tennis players in the world. Coming from the country of Switzerland, Roger Federer has been turning heads in the tennis and Olympic world. His net worth is a total of $450 million dollars, which comes at no surprise as he is the number 4 tennis player in the world. However, the reason Roger Federer places in the number 3 spot for richest Olympians is because his income is not just from the Olympics and endorsements, but from major tennis competitions as well. Because of this, Federer makes over $3 million dollars from playing in the US Open alone.
Serena Williams is only one of two women on this list, but it does not take away from the fact that her athleticism and talent are far beyond many in the tennis world. Along with her sister, Venus Williams, the two have paved the way for many young women in tennis. Serena has won four Olympic medals, her first one being at the 2000 Summer Olympics. Serena Williams is also one of the richest female tennis players, with a net worth of $200 million dollars. In fact, she is the highest earning female player to date.
Cristiano Ronaldo is one of the most famous and most talented soccer players of all time. Starting out at such a young age, Ronaldo has played all across the globe from Portugal to Real Madrid. He has also made appearances in the Olympic games. He made his first global appearances in 2004, and has led the Portguesse soccer team to many victories. With a net worth of $108 million, with a $61 million just from winning matches and his contract salary. The rest of his money comes from endorsement deals and business ventures.
Caitlyn Jenner has more than just an athlete under her belt. As a decathlon runner, Jenner earned a medal at the 1976 Olympics. In addition, to athletics, she is also a major TV personality. Being related to the Kardashians and the Jenner family, she has been in the spotlight for quite some time. As a result, Caitlyn Jenner has a net worth of $100 million, which is earned through tv appearances, sponsorships and endorsements that coincide with her former athletic status. Thus, Jenner, being a former Olympian, is one of the richest athletes to have played in the Olympic Games.
Usain Bolt is often known as the fastest man alive. He is also known as one of the richest Olympians and runners today. With a net worth of $90 million, Usain Bolt makes his money from his multiple records, Olympic medals and brand endorsements throughout his career. Participating in the Olympics since 2008, Bolt has broken many records, including the fastest 100m race, doing it in only 9 seconds. In addition, he holds endorsements from brands like Visa and Gatorade. Without a doubt, Usain Bolt is extremely talented, so it is no surprise that he is also one of the richest Olympians alive today.
Being the most decorated Olympic athlete comes with its perks. Micheal Phelps has been swimming in the Olympics since 2000, Phelps has been a major force in the swimming world. With a net worth of $80 million, Phelps is without a doubt one of the richest Olympians to exist today. Similar to many athletes, Phelps has been endorsed by a multitude of different brands, like Under Armor and Speedo which has given him a boost in his earnings over the past decade. However, his talent and years of breaking records has been a huge factor in his wealth as he holds over 28 Olympic medals since he started his career.
As a cyclist, Lance Arstrong has done it all from winning the Tour De France multiple times in a row to winning an Olympic medal. Despite stirring controversy for his use of performance enhancing drugs, it does not take away from the fact that Lance Armstrong is one of the richest Olympic athletes. With his charity, Livestrong, along with prize money and endorsements, Armstrong's net worth is $50 million dollars. Even more surprising, is that at the peak of his career, Armstrong was worth over $125 million dollars. While Armstrong no longer cycles because of the controversy that surrounded his career, he is still one of the richest athletes to compete in the Olympics.
Shaun White without a doubt is a common name one hears during the Winter Olympics. His snowboarding skills are far beyond anything anyone has seen in the sport in a long time. It comes as no surprise that his snowboarding skills has landed him as one of the richest Olympians. Just from endorsement deals alone does White make about $10 million per year. Aside from that, his three Olympic medals and multiple X-games wins has given him a net worth of about $40 million. As a result, that also makes Shaun White one of the richest snowboarders in the world.
Depending on the place the athlete comes in, along with the country in which they are from, the amount they make varies. In many countries, if an athlete was to win a medal, they would earn a bonus and that bonus depends on if they win a gold, silver, or bronze medal. Contrary to popular belief, athletes do not get paid for simply participating in the Olympics and so medal bonuses are how most Olympic athletes make their money.
Prior to the Obama administration, United States Olympic athletes had to pay a tax if they won any medals. However, President Obama put an end to the tax during his presidency, eliminating the victory tax all together. Currently, the IRS prohibits the taxation of medals or prize money awarded to Olympic athletes in the United States if they win gold, silver, or bronze medals at the Summer or Winter Olympics.
Olympic athletes make their money two ways. One is through winning medals. When athletes place in the top 3, often their countries give them a winning bonus. The amount they win varies, however. Olympic athletes can also make money through brand endorsements. For instance, Usain Bolt makes money off of his brand endorsement deal with brands such as Puma and Gatorade. Most Olympic athletes are endorsed by brands, especially high profile athletes who often win big.
Whether or not an Olympic athlete has a job depends on their performance, fame and earnings from brand endorsement deals. The amount of pay varies from sport to sport and from country to country. If they do not make very much, athletes often do hold side jobs that have nothing to do with their Olympic sport. Examples of these jobs include but are not limited to accounting, construction work, and teaching.