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What's in store for Olympic gold medalist Carlos Yulo?

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Paige Javier

ABS-CBN News

<div><span class="fr-img-caption fr-fic fr-dib" style="width:950px"><span class="fr-img-wrap"><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/1722748985334viber_image_2024-08-04_00-49-44-465.jpg" class="fr-fic fr-dib" style="width:950px"/><span class="fr-inner" style="text-align:left"><em>CIGNAL TV/POC MEDIA</em></span></span></span></div><p>MANILA — Carlos Yulo made history for the Philippines at the Paris Olympics, after bagging the country&#x27;s second gold medal at the Summer Games early Sunday morning, Manila time.</p><p>The 24-year-old gymnast delivered on high expectations, when he won gold in the floor exercise in men&#x27;s artistic gymnastics with a score of 15.000.</p><p>Following the historic feat, the country&#x27;s Golden Boy is set to receive rewards for raising the flag on the world stage.</p><p>Under Republic Act No. 10699, or the National Athletes and Coaches Benefits and Incentives Act, gold medalists should receive P10 million, while silver and bronze medal winners get P5 million and P2 million, respectively.</p><div><a href="https://news.abs-cbn.com/sports/2024/8/3/paris-2024-yulo-grateful-for-challenges-that-led-to-olympic-gold-030">Paris 2024: Yulo grateful for challenges that led to Olympic gold</a></div><p>Since Yulo won gold at the Olympics, he&#x27;s expected to receive P10 million as well as a Gold Olympic Medal of Valor from the Philippine Sports Commission.</p><p>Yulo will also receive a house and lot from the Philippine Olympic Committee, which earlier pledged to give the reward to Paris Olympics gold medalists.</p><p>POC president Abraham &#x27;Bambol&#x27; Tolentino, who is also Tagyatay City mayor,  previously rewarded Tokyo Olympic medalists with property in the city.</p><p>In 2021, weightlifter Hidilyn Diaz, the first Filipino Olympic gold medalist, received a house and lot.</p><p>Olympic silver and bronze medalists boxers Nesthy Petecio, Carlo Paalam and Eumir Marcial were also given homes by Tolentino. </p><p>The House of Representatives will also award Yulo P3 million, according to House Committee on Appropriations Chairperson Elizaldy Co of AKO BICOL party-list .</p><p>&quot;The reward reflects our support for his continued success and our commitment to fostering Filipino talent on the international stage,&quot;  the statement read.</p><div style="margin-bottom:0px;line-height:normal"><a href="https://news.abs-cbn.com/sports/2024/8/4/diamonds-meatballs-and-motors-how-olympians-can-win-more-than-medals-1202">Diamonds, meatballs and motors: How Olympians can win more than medals</a></div><div style="margin-bottom:0px;line-height:normal"><br/></div><p>The 24-year-old gymnast will also be awarded a P24-million condominium unit in Taguig City, with property development firm Megaworld Corp.&#x27;s pledge of a &#x27;fully furnished 2-bedroom condominium unit in McKinley Hill.&#x27;</p><p>Buffet restaurant chain Vikings Group also gave lifetime free buffet to the Olympic gold medalist for his feat.</p><p>Meanwhile, engineering and construction firm NEXA Engineering is giving Yulo free lifetime engineering design.</p><div style="margin-bottom:0px;line-height:normal"><a href="https://news.abs-cbn.com/sports/2024/8/3/paris-2024-villegas-assured-of-medal-with-hard-earned-win-over-frances-lkhadiri-301">Paris 2024: Villegas assured of medal with hard-earned win over France&#x27;s Lkhadiri</a></div><div style="margin-bottom:0px;line-height:normal"><br/></div><p style="margin-bottom:0px;line-height:normal">The country&#x27;s Golden Boy may see more rewards in the coming days, similar to the outpouring of support from the government and private sector for the first-ever Olympic gold medalist Hidilyn Diaz.</p><div style="margin-bottom:0px;line-height:normal"><br/></div><p style="margin-bottom:0px;line-height:normal">Yulo will vie for another gold medal at the vault final, set for Sunday evening.</p><div><br/></div><div><strong>RELATED VIDEO</strong></div><div><span class="fr-video fr-deletable fr-fvc fr-dvb fr-draggable" contenteditable="false" draggable="true"><iframe width="640" height="360" src="https://www.youtube.com/embed/H-dcWu4OAUE?&amp;wmode=opaque&amp;rel=0" frameBorder="0" allowfullscreen="" class="fr-draggable"></iframe></span><br/></div>

<p>Under Republic Act No. 10699, or the National Athletes and Coaches Benefits and Incentives Act, gold medalists should receive P10 million, while silver and bronze medal winners get P5 million and P2 million, respectively.</p>

Under Republic Act No. 10699, or the National Athletes and Coaches Benefits and Incentives Act, gold medalists should receive P10 million, while silver and bronze medal winners get P5 million and P2 million, respectively.