Yulo to get P24-million fully furnished condo, P3-million cash prize
MANILA, Philippines — The Philippines' first-ever gold medalist at the Paris Olympics 2024 Carlos Yulo keeps on winning, as he is set to receive a P24-million fully furnished condominium and P3 million from the House of Representatives.
The 24-year-old Yulo scored a rare 15.000 at his pet event, the men's floor in artistic gymnastics finals, in this year's Olympics on Saturday evening (Manila time).
Shortly after his win, the House of Representatives said it would award Yulo P3 million for his "extraordinary" talent.
This was confirmed by House appropriations panel chair Rep. Elizaldy Co (Ako Bicol).
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Apart from this, Yulo will also be granted with P10 million as mandated by Republic Act 10699 or the Sports Benefits and Incentives Act of 2001.
Enacted in 2015, the act mandates a P10 million cash prize and Olympic Gold Medal of Valor for gold medalists at the Olympic Games.
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Real estate giant Megaworld Corp. said on its Facebook page shortly after Yulo's win that he would be given with a fully furnished two-bedroom condominium unit in McKinley Hill in Taguig worth P24 million.
Yulo is expected to get more prizes, just like weightlifter Hidilyn Diaz, who bagged the Philippines' first-ever gold during the Tokyo 2020 Olympics.
Diaz's prizes after winning the gold in 2020 included P10 million as mandated by law and additional pledges from various individuals, including business tycoons and sports patrons Manny V. Pangilinan and Ramon S. Ang, amounting to P33 million.
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