House to give P3M to Carlos Yulo for bagging gold medal at Paris Olympics

The House of Representatives will award P3 million to Carlos Yulo for winning a gold medal at the 2024 Paris Olympics on Saturday, Representative Elizaldy Co, chairman of the House Committee on Appropriations, said. 

"In recognition of his historic accomplishment, the House of Representatives is honored to award Carlos Yulo P3,000,000. This reward reflects our support for his continued success and our commitment to fostering Filipino talent on the international stage," Co said in a statement.

Co said Yulo's "dedication and hard work have brought immense pride to our nation."

"Carlos has shown that with determination and resilience, Filipinos can excel and achieve greatness in any field. Napatunayan ni Carlos na kayang makipagsabayan ng mga Pilipino sa buong mundo," he added.

(He proved that Filipinos can be at par with others in the world.)

"Siya ay isang inspirasyon sa lahat ng kabataan at sa mga nangangarap. Siya ang patunay na kapag may sipag at tiyaga, walang imposible," Co said, congratulating the Filipino gymnast.

(He is an inspiration to the youth and to all those with dreams. He is proof that when one has diligence and patience, nothing is impossible.)

Yulo, 24, became the first-ever Filipino gymnast to ever reach the podium in any edition of the Summer Games, seizing the gold medal in the men's floor exercise at the 2024 Paris Olympics on Saturday at the Bercy Arena. 

He also became the first medalist in the Philippines' campaign in Paris, and the second gold medalist from the country following weightlifter Hidilyn Diaz who won a gold medal for weightlifting at the 2020 Tokyo Olympics.

Asked for comment after his win, Yulo said, "I dedicate this to the Filipino people also who supported me."

Yulo will have another shot at an Olympic medal on Sunday when he competes in the vault finals.

President Ferdinand "Bongbong" Marcos also congratulated Yulo for his victory on Saturday.

"Congratulations, Caloy! The entire country stands proud with you," Marcos said in a post on Facebook.

Marcos also said he is confident about the country's medal chances in the Summer Games.

"We’ve witnessed history as Carlos Yulo clinched the Philippines’ first gold medal in artistic gymnastics at the Paris 2024 Olympics," he said. "I am confident that it will not be the last."

Yulo stands to receive a cash incentive of P10 million as mandated by Republic Act 10699 signed in 2015.

He will also receive an Olympic Gold Medal of Valor from the Philippine Sports Commission.

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.

According to reports, a property development company also pledged to give a condominium unit to anyone who wins the gold medal.

Aside from Yulo, boxers Aira Villegas and Nesthy Petecio are still in the running for a possible medal, while pole vaulter EJ Obiena qualified for the men's pole vault finals.

Hurdlers John Cabang Tolentino and Lauren Hoffman, golfers Dottie Ardina and Bianca Pagdanganan, and weightlifters John Ceniza, Vanessa Sarno, and Elreen Ando have yet to commence their respective campaigns in the Summer Games. —KG, GMA Integrated News