What rewards will Carlos Yulo get for winning Olympic gold medal?

Carlos Yulo just became the only two-time Olympic gold medalist in the history of the Philippines after he ruled the men's floor exercise event of the artistic gymnastics competition and the men's vault finals of the 2024 Paris Olympics.

Because of his historic win, there are some rewards waiting for the country's newest Olympic hero.

As mandated by Republic Act 10699 signed in 2015, medalists from the Philippines shall receive a cash incentive depending on their rankings.

For a gold medal, the incentive is set at P10,000,000 while it is P5,000,000 for a silver medal and P2,000,000 for a bronze. The said cash incentives are for individual events.

The Philippine Amusement and Gaming Corporation (PAGCOR) said it will grant Filipino gymnast Carlos Yulo a P20 million reward for winning two Olympic gold medals in floor and vault events in men's artistic gymnastics. 

An athlete who will get an Olympic gold will also receive an Olympic Gold Medal of Valor from the Philippine Sports Commission (PSC).

READ MORE | What rewards will Philippine Olympic medalists get?

The Philippine Olympic Committee also pledged to give gold medalists a house and lot, just like what they did to the four medalists back in the Tokyo Olympics three years ago.

Property development company Megaworld rewarded Yulo with a three-bedroom unit in one of its premier residential properties inside McKinley Hill. The company earlier said it would reward Filipino gold medalists with a P24-million two-bedroom residential condominium unit.

It also gave a P3-million cash bonus to Yulo for being the first Filipino athlete to bag two gold medals from the Olympics, bringing the total value of the company's reward to P35 million.

Century Properties Group (CPG), meanwhile, announced it is rewarding Yulo with a house and lot package at its PHirst Editions Batulao project in Nasugbu, Batangas.

The single attached home, coincidentally named Charles–which translates to Carlos in Spanish–is valued at P6 million.

The House of Representatives, for its part, awarded P14 million to Yulo, while the Office of the President handed P20 million. 

Meanwhile, the City of Manila also handed a P2 million cash incentive on top of a homecoming parade.

The two-time Olympic gold medalist will also be conferred a congressional medal for his exceptional achievement and contribution to Philippine sports.

The Philippine Airlines also said it will give Yulo 150,000 Mabuhay Miles per year for life.

Here are the updated rewards for Carlos Yulo:

Business tycoon Manuel Pangilinan also awarded P10 million to Yulo.

—JMB/KG/AOL/VAL/VDV/JKC, GMA Integrated News