MANILA, Philippines – The history created for the Philippines by Filipino pride gymnast Carlos Edriel Yulo is exceptional, as he is the country's first two-time Olympic gold medalist.
Yulo won gold medals at the 2024 Paris Olympics for the floor exercise and vault in men's artistic gymnastics.
The two gold medals seem to symbolize the "gold" or the overwhelming rewards Yulo will receive because of his success, which, according to netizens, is truly "well-deserved."
First, there is the mandate of the law based on Republic Act 10699 of 2015, also known as the "National Athletes and Coaches Benefits and Incentives Act," which states that medalists from the Philippines will receive a cash incentive based on their ranking: if they win a gold medal, they will receive ₱10 million; for a silver medal, ₱5 million; and for a bronze medal, ₱2 million, for individual events only. And because he won two gold medals, he will receive ₱20 million.
An Olympic gold medalist will also receive the Olympic Gold Medal of Valor and be recognized by the Philippine Sports Commission (PSC).
According to Representative Elizaldy Co, chairman of the House Committee on Appropriations, the House of Representatives will give Yulo ₱6 million, an increase from the previous ₱3 million.
He will also receive ₱2 million from Manila City local government, as announced by Manila City Mayor Honey Lacuna, alongside with Filipino pole vaulter EJ Obiena with ₱500,000. A grand parade is also being readied to welcome them home, as they are both Manila residents.
Netizens were astonished by the prize of a condominium unit from Megaworld Corporation, valued at ₱32 million, with an additional ₱3 million cash bonus, up from ₱24 million, which the company announced on Thursday, August 1, even before Yulo's victory. They stated that anyone who wins a gold medal at the Olympics would be awarded a condo unit in McKinley Hill at Bonifacio Global City (BGC).
As of August 8, here's the list of incentives and rewards to be given to 'Golden Boy' Carlos Yulo:
From the government- Olympic Gold Medal of Valor from the Philippine Sports Commission
- House and lot property in Tagaytay from the Philippine Sports Commission
- ₱20 million cash incentive based on Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act
- ₱6 million cash incentive from the House of Representatives
- ₱2 million cash incentive from Manila City local government
- ₱20 million cash incentive from Philippine Amusement and Gaming Corporation (PAGCOR) Chair Alejandro Tengco
- ₱32 million worth of fully-furnished three-bedroom unit in McKinley Hill from Megaworld Corporation Inc.
- ₱3 million cash bonus from Megaworld Corporation Inc.
- ₱3 million cash from Bounty Fresh and Chooks to Go by Bounty Agro Ventures Inc.
- ₱5 million from ArenaPlus
- ₱2 million worth of vacation package at Lost Villa by Lost Juan
- ₱15 million worth of brand ambassadorship for a five-year contract with Toledo Medical Companies Inc.
- ₱1 million worth of products from the SM Group, consumable for one year (department stores and supermarkets)
- ₱100,000 worth of furniture and cash vault from Apollo Home Depot
- Two free franchises from Don Macchiatos and Don Lemon Philippines
- Flights from Philippine Airlines
- Membership from Intense Gym
- Buffet across all Vikings Philippines branches
- Visa services from Fil-Global Immigration Services Corp.
- Engineering design from Nexa Engineering
- Laundry services from Lavanna Laundry Hub
- 2×2 ID picture from JSJ Photography
- Gastro consults and colonoscopy from Dr. Virgil Lo (when he turns 45)
- Check-up and consultation from Alota Medical Clinic
- Car service from Shimmer and Shield Car Coating
- Haircuts from Alpha Barber
- Delivery service from Arkila
- Food and drinks from Tipsy Pig, JT's Manukan, BOK Korean Fried Chicken, Bacsilog, Hagame Sushi, Ramen Bar, and Mang Inasal
- Free waffles from Waffle Time, Inc.
- Supplies of delicious cookies by Cookies By The Bucket
Many companies will surely get endorsement of Yulo. Expect more prizes and incentives to pour in for him and other athletes who win medals at the Olympics.
Yulo's victory is a celebration for the country
Yulo is the first man from the Philippines to win an Olympic gold medal.
He is just the second Filipino athlete in the nation’s history to win gold too. Weightlifter Hidilyn Diaz won the Philippines’ first Olympic gold medal in the women’s 55kg in Tokyo 2020.
Yulo joins an exclusive club of history makers, writing his name into Filipino sporting history after a golden Games in Paris.
— Noel Ed Richards, The Summit Express
