What awaits Carlos Yulo after making history in 2024 Paris Olympics

Photo from figymnastics and c_edrielzxs/Instagram

It’s a historic moment for the Philippines as gymnast Carlos Yulo achieved multiple firsts at the 2024 Paris Olympics.

A century ago, the elusive gold medal seemed out of reach for the country. For 100 years of fighting for a podium finish, the Philippines only held one Olympic gold, won by weightlifter Hidilyn Diaz in 2020. Until Saturday night on Aug. 3 (PST), Yulo rose to the occasion and doubled the success.

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Dubbed the Philippines’ “Golden Boy,” Yulo became the first Filipino athlete to win two Olympic gold medals in the same year, triumphing in both the floor exercise and vault finals for men’s artistic gymnastics with scores of 15.00 and 15.116 respectively. This remarkable feat also made the 24-year-old world champion the first Filipino multi-medalist in Olympic history since the country’s debut in 1924.

With this, both the government and private sectors have promised significant rewards for his historic achievements. However, these incentives were announced before he clinched his second gold in the vault finals.

Will Yulo receive double the rewards for his unprecedented success?

Under Republic Act 10699, signed in 2015, Filipino athletes who win Olympic medals receive significant cash incentives based on their placements. Gold medalists like “Caloy” are awarded P10,000,000, silver medalists receive P5,000,000, and bronze medalists earn P2,000,000.

Alongside the cash incentives, Yulo will also be awarded the Olympic Gold Medal of Valor by the Philippine Sports Commission (PSC). Additionally, the Philippine Olympic Committee has pledged to give him a house and lot, following the precedent set during the Tokyo Olympics three years ago.

The House of Representatives will also award Yulo P3 million for his gold medal achievement. In recognition of his success, property development company Megaworld has pledged to give him a fully-furnished 2-bedroom condominium unit in McKinley Hill, BGC, worth P24 million. So, will he get two units after the second win?

Yulo will enjoy a lifetime supply of various benefits from all restaurant chains of Vikings, free meals at JT’s Kalayaan, free food and drinks at all Tipsy Pig Gastropub branches, free bacsilog from BastaMura Bacsilog, free furniture worth P100,000 from Apollo Home Depot and definitely more to come.

Currently, the Philippines has three Olympic gold medals: two from Carlos Yulo and one from Hidilyn Diaz in the 2020 Tokyo Olympics. There are still Filipino athletes in medal contention, such as boxers Nesthy Petecio and Aira Villegas, who are guaranteed an Olympic medal, and world No. 2 EJ Obiena, who is competing in the pole vault finals.