→Subscribe for new videos every day! https://www.youtube.com/user/TodayIFoundOut?sub_confirmation=1 →How "Dick" came to be short for 'Richard': https://youtu.be/BH1NAwwKtcg?list=PLR0XuDegDqP2Acy6g9Ta7hzC0Rr3RDS6q Never run out of things to say at the water cooler with TodayIFoundOut! Brand new videos 7 days a week! More from TodayIFoundOut The Tweak that Saved Basketball https://youtu.be/PVUJB81KuEg?list=PLR0XuDegDqP3fLCVklBGENr2Tsd2UPpOI 10 Minute NFL Games... and 6 other Sports Facts https://youtu.be/ETqA33w8Vdg?list=PLR0XuDegDqP1IHZBUZvKkPwkTr6Gr0OBO In this video: Some are awarded cash prizes by their respective local Olympic committees or governments. Also, sometimes private businessmen will match values given, such as in Armenia where a man donated $700,000 to be added to the cash given by the Olympic committee for medals. Another similar thing occurred for Belarus athletes during the 2008 Beijing Olympics. Those Belarusians who won any medal in the Olympics that year not only got a cash prize ($100,000 for gold, $50,000 for silver, and $30,000 for bronze), but also were given free meat and sausage for life from a local major meat company, Belatmeat. In the end, though, typically any cash prizes and the decision on whether to award them each Olympics is decided by the local Olympic Committees in each country and generally all the cash for the bonuses comes from these committees. Want the text version?: http://www.todayifoundout.com/index.php/2012/08/do-olympic-medalists-receive-cash-prizes-with-their-medals/ Sources: http://aol.sportingnews.com/olympics/story/2012-08-01/london-olympics-2012-medal-tax-olympics-winners-allison-schmitt-michael-phelps http://www.bbc.co.uk/news/magazine-19101429 http://www.bbc.co.uk/sport/0/olympics/19078502 http://www.snopes.com/politics/taxes/olympics.asp http://voices.yahoo.com/2008-olympics-cash-award-sausages-life-winning-1788659.html?cat=14 http://en.wikipedia.org/wiki/Zulfiya_Chinshanl