Pres. Bongbong Marcos has just issued an order for all athletes who competed in the Olympics to receive P2 million each.

Carlos Yulo
Photo: Screengrab from RTVM
Source: Facebook

One million will be coming from the Office of the President, and the other will be coming from the Philippine Amusement and Gaming Corporation (PAGCOR).

“Tamang-tama, nandito si Chairman Tengco. Lahat naman ng atleta natin bigyan na natin basta nag-Olympian, bigyan natin tig-iisang milyon. Ima-match pa ng Office of the President yung ibibigay mo,” said the President.

The monetary award from the President’s Office was immediately given to the athletes during the “Heroes Welcome.”

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In the video, each of the Olympians were called on stage to receive the P1 million check from the Office of the President.

The Olympians were with their families when they received the check.

Carlos Yulo will be the one who would receive the most rewards for bringing two gold Olympic medals to the country.

He received P20 million from Malacañang.

Bronze medalists also received bigger amounts, and the Olympic staff also received P500,000 each.

Carlos Yulo is a Filipino artistic gymnast known for his exceptional skills and achievements in gymnastics. He gained international recognition for his performances in various competitions, particularly in the World Artistic Gymnastics Championships. He won two gold medals in gymnastics’ men’s floor exercise and men’s vault in the 2024 Paris Olympics.

The government has announced a cash incentive of P20 million in cash, funded by PAGCOR, that will be given to Carlos as reward for his two Olympic gold medals. The announcement was made by PAGCOR Chairman Alejandro Tengco. In Manila Bulletin’s report, he said that Caloy does not know yet that he will be receiving that incentive from the agency. Caloy is guaranteed by law to receive the incentive, and that will be coming from PAGCOR, as per reports.

It can be recalled that Carlos bagged two gold medals for the Philippines at the Paris Olympics 2024. The Olympian ruled the men’s floor exercises of the artistic gymnastics competition and the Men’s Vault. Because of this, he is set to receive lavish rewards both in monetary and real estate form. He will also receive a house and lot, and a condominium unit as pledged by a property developer.