Philippines gymnast Carlos E. Yulo didn’t just win a gold medal at this summer’s Olympic Games, he’s also won a fully furnished two-bedroom apartment.
The 24-year-old gymnast made history as the first male Olympic gold medalist in the history of the Philippines when he won the top prize for his floor exercise on August 3. The following day, he earned a second gold medal for his vault routine. He is only the second athlete from the Philippines to win the top prize. Hidilyn Diaz won the country’s first-ever gold medal at the Tokyo 2020 Olympic Games in 2021 for weightlifting.
On August 1, Filipino real estate company Megaworld announced it would award each of the country’s Paris Olympians who returned with a gold medal a two-bedroom condo in the company’s McKinley Hill township. Yulo is the only gold medalist for his country in this year’s games so far.
McKinley Hill is the largest condo development in the city of Taguig and is valued at 24,000,000 Philippine pesos or $414,046 USD. Taguig is a coastal city and is considered a major hub in the Philippines.
“This 2024, we are celebrating our 100th year of participating in the Olympic Games, and what a way to celebrate this milestone than by recognizing the superb competitive spirit of our newest Olympic gold medalist and welcoming them to McKinley Hill,” Lourdes T. Gutierrez-Alfonso, Megaworld president, stated in a press release. “As one of the most celebrated addresses in Fort Bonifacio, McKinley Hill is home to several world-class athletes, including members of the Philippine national teams for basketball and football. This makes it a perfect home for Filipino champions who live a life of passion and excellence through and through.”
At the 2024 Olympics, Yulo has won two gold medals.
Tom Weller/voigt | Getty Images Sport | Getty Images
In addition to the furnished condo, the Philippine government will give Yulo 10 million Philippine pesos, or $172,519 USD. The country’s House of Representatives has also pledged 6 million Philippine pesos, or $103,511 USD, according to local Philippines outlet Philstar.
Yulo will also be able to take advantage of a lifetime supply of ramen from various restaurant chains in the country and a gastroenterologist has even offered Yulo free consultations and colonoscopies for life. The University of Mindanao has offered the gold medalist free university credits.
The mayor of Yulo’s home city, Manila, told BBC it is preparing to receive him with a “hero’s welcome” when he returns from the Olympics.
“The grandest welcome will greet him and all our Paris Olympians. When we meet him, we will present Carlos Yulo cash incentives, awards, and symbols of the eternal gratitude of the proud capital city of the Philippines,” Honey Lacuna told BBC.
Conversions from the Philippine peso to USD were done using the OANDA conversion rate of 1 Philippine peso to 0.02 USD on August 5, 2024. All amounts are rounded to the nearest dollar.
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Source: CNBC