After Defeating United States at World Championships, Australian Billionaire Announces $1,900,000 Gift for Swimming Team

The Australian swimming team’s goal of Olympic triumph just got much more lucrative. The sports world has been flooded by nations pushing their players to show off their status every four years. These athletes, who are divided by borders and united by fueled passion, will once again come back to the Games venue to face off. Now, ahead of the 2024 Paris Olympics, the Australian team is ramped up following a great World Championship record. In the midst of a heated rivalry, the Australian team’s triumph against the American team grabbed headlines.

A billionaire stepped out to make a donation in support of the athletes after being impressed by the potential of the Australian team. The chances of brilliance adding value to the purses of the best athletes have only grown more promising. Their past performances, however, support nothing less.

Swimming fund for the Australian Olympians

The richest person in Australia, Gina Rinehart, promised to donate $1.9 million USD to the Patron’s Medal Achievement Incentive Fund. The fund aims to encourage the finest Olympians ahead of the Summer Olympics in Paris next year. The program will provide incentives for the most recent World Championships as well as future Olympic wins that are equivalent to the World Aquatics numbers. The Australian rowing, swimming, artistic swimming, and volleyball teams will each benefit from the approach, as reported by Swim Swam.

In addition to the long-term athlete payments and program assistance that each body presently receives, a total of $974,000 will be distributed annually via funding. Based on performances, payments of $12,984 for a gold medal, $9,738 for a silver medal, $6,492 for a bronze medal, and $19,476 for a world record will be made (converted to USD from AUD). These rewards are distributed in addition to Government and Australian Olympic Committee funding. The best part is that Rinehart has guaranteed gender equality for athletes who win gold medals.

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The Australian Para Swim Team also received a total of $289,263 for putting on the best performance at Worlds in a decade. The cash amount is significant for Para rowers and swimmers who have never earned cash rewards from their respective governing organizations. The President of Rowing Australia said, “Today’s launch of this very special achievement fund is much welcomed by our athletes, their families, coaches, and Australia-wide.” Last month, the philanthropist Rinehart even watched the best female swimmers at the 2023 Fukuoka Swimming World Championships.

Billion-dollar-worth Australian turned World Swimming Championship spectator

At the World Championships in Fukuoka, Rinehart was seen alongside Kyle Chalmers’ mother, the reigning 100-meter freestyle world champion. Chalmers won a total of 25 medals in Worlds, including an impressive 13 gold, 7 silver, and 5 bronze medals?impressive to say the least. Shayna Jack, another Australian swimmer, won a silver medal in the 50-meter freestyle as well as three world titles on Australian relay teams. She took notice of the $26.5 billion net worth of Rinehart in the crowd and described her as a “generous and supportive person.”

However, Mollie O’Callaghan, a 19-year-old from Fukuoka, was the center of attention. She collected five gold medals, one silver medal, and four world records from her participation. Owing to her incredible wins, she earned $176,005 from World Aquatics, $103,690 from World Aquatics, and a further $72,315 from the Patron’s Medal Achievement Incentive Fund. American swimmers, on the other hand, took home 38 medals, seven of which were gold. The US swimming team is ready for an uphill battle, as the 2024 Paris Olympics are less than a year away.

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