Carlos Yulo bared what he’s planning to do with the tens of millions of cash and in-kind incentives that he will receive from the national government and private companies after his historic double gold at the 2024 Paris Olympics.
In a sit-down interview with Dyan Castillejo of ABS-CBN News, the reporter was telling Yulo the laundry list of rewards in store for him when he exclaimed “wow” and covered his mouth.
“I did not know that,” the 24-year-old gymnast said, as he’s apparently trying to maintain his composure.
Castillejo asked Yulo how the incentives, with more ones expected to come, would change his life.
Yulo then noted that he knows people who could help him “manage” his financial and material rewards.
“Siyempre, si Ma’am Cynthia palagi lang po siya nandiyan,” Yulo said of Cynthia Carrion, the president of the Gymnastics Association of the Philippines. “Mag-aask po ako ng mga questions kung paano magandang gawin sa money.”
Above all, Yulo shared he’s seeking to save and invest the millions of pesos he’s going to get. “Hindi naman po ako palaging atleta,” he said. “Minsan lang ito. Shinoot ko yung shot ko, and tumama naman po.”
In the meantime, Yulo plans to focus on his personal life, vowing not to be amiss in taking care of his physical and mental health.
Since he won’t have any competition after the Olympics, Yulo said he’s taking a break first.
“As of now, ito na po ‘yung pinakamalaking competition ko,” he said, adding that it has been a “stressful” year for him. “Focus muna din sa sarili and ia-align ko po ‘yung utak ko ulit.”
Until then, that’s when Yulo would make plans for the 2028 Los Angeles Olympics. “Wish ko lang this year also and hanggang mag-2028 na magandang health po talaga and super safe lang po,” he said.
Republic Act No. 10699, or the National Athletes and Coaches Benefits and Incentives Act, states that individual Filipino Olympic medalists shall receive P10,000,000 for gold, P5,000,000 for silver, and P2,000,000 for bronze. Gold medalists will also receive an Olympic Gold Medal of Valor from the Philippine Sports Commission.
The House of Representatives vowed to give Yulo at least P6 million for the double win, as well as a congressional medal recognizing his significant contribution to Philippine sports.
The Philippine Olympic Committee, for its part, pledged to Yulo and the rest of the medalists a house and lot, just like what it did at the 2020 Tokyo Olympics.
A major property developer also promised Yulo a fully-furnished three-bedroom unit at McKinley Hill with a total value of P32 million, plus a cash bonus of P3 million. It was originally a a two-bedroom fully-furnished condominium unit worth P26 million following his first gold.
Several food establishments and services vowed to give him a lifetime supply of their offerings.
Yulo is also expected to receive a lot of brand endorsements when he returns to the Philippines.
‘Hindi talaga ako makapaniwala’
Yulo scored 15.116 points during the men’s vault finals event on Aug. 4, Manila time, beating Armenia’s Davtyan (14.966) and Great Britain’s Hepworth (14.946).
A day before that, he dominated the gymnastics men’s floor exercise finals, scoring 15.000 during his pet event. Israel’s Artem Dolgopyat finished silver with 14.966 and Britain’s Jake Jarman got bronze with 14.933.
Yulo is the second Filipino athlete to ever win a gold medal at the Olympics after weightlifter Hidilyn Diaz at the 2020 Tokyo Olympics.
Following his feat, Yulo told reporters at the sidelines of the event, as shared by One Sports, that he wasn’t expecting the second gold since all he wanted was to be safe and not to sustain injuries.
“Ayun lang po talaga, hindi ko inexpect na ganoon ‘yung kalalabasan,” he said. “Hindi talaga ako makapaniwala kanina.”
In an interview with One Sports in his locker room, Yulo called the experience “crazy.”
“Hind talaga ako makapaniwala,” he said anew, chuckling and beaming at the camera. He held his gold medal and pointed out, “Through God’s grace,” as he shook it a few times.
In another chat with One Sports, Yulo noted that God gave him challenges knowing he can overcome them.
“Dami ko natutunan sa sarili ko, mag-adjust, maging kuntento kung anong mayroon ako. Siyempre, maging humble sa kung anong ginagawa ko,” he said.
Yulo also acknowledged his struggles during his gold medal campaign. “Lahat ng struggles na binaba ako, lahat ng taong hindi naniwala at binaba talaga ako,” he said.
“‘Yung mga taong naniwala sa akin talaga nang totoo, para sa kanila itong lahat,” he continued.
