Breaking News:The amount of money that Simone Biles and the US gymnastics team get for gold medal wins has been shared by online news platforms. The sum has sparked discussion among social media users for a specific reasons..(Full details below)

The amount of money that Simone Biles and the US gymnastics team get for gold medal wins has been shared by online news platforms. The sum has sparked discussion among social media users for a specific reason.

News outlets have released reports outlining how much money competing athletes earn for winning medals at the Paris Olympics. Since finding out how much Simone Biles and the rest of the US gymnastics team have made from the gold medals they have won, many were taken aback, with some expressing that the amount is not enough.

Reportedly, while the International Olympic Committee does not hand out prize money for the medals, the competitors’ countries reward their athletes with cash bonuses.

Based on information tabulated by CNBC from the national Olympic committees, local reports, and sports associations, the US sits at number ten on the list of Olympic medal bonuses.

The country ranks below Hong Kong, which is currently number one on the list as the country that offers its athletes the highest payouts for their Olympic victories. Their gold medal payout totals $768,000.

According to statistics, the top ten countries that give the Largest payout  for gold medal wins, apart from Hong Kong (number 1), are Israel ($275,000), Serbia ($218,000), Malaysia ($214,000), Italy ($196,000), Lithuania ($182,000), Moldova ($171,000), Latvia ($155,000), Hungary ($154,000), and Bulgaria ($139,000).