Carlos Yulo's 2 Olympic golds net P42M cash windfall, P32M condo, and more

Carlos Edriel Yulo's homecoming as a double gold medalist at the Paris 2024 Olympics is made even sweeter with at least P42 million in cash incentives, a brand new P32 million fully-furnished three-bedroom condominium at McKinley Hill, a house and lot in Tagaytay, and a host of other perks as of August 5, 2024.

After his second gold medal victory in the men's artistic gymnastics vault finals at the Paris 2024 Olympics gymnastics competition at Bercy Arena on Sunday, August 4, the 24-year-old Yulo is set to receive P20 million from the Philippine government under the Republic Act (RA) 10699, also known as the National Athletes and Coaches Benefits and Incentives Act. 

RA 10699 mandates awarding incentives of P10 million for every gold medal won in the Olympics, P5 million for silver, and P2 million for bronze.

Yulo will also claim P10 million from the International Container Terminal Services, Inc. (ICTSI), which has pledged to award P5 million for every Olympic gold medal, P3 million for silver, and P2 million for bronze. 

The House of Representatives doubled his incentives to P6 million after committing to award him P3 million for his first gold medal in the men's floor exercise on Saturday, August 3. 

Chooks To Go also announced on Monday morning, August 5, that they would reward Yulo with P3 million.

 Megaworld also upgraded its reward for Yulo's historic feat to a P32-million fully-furnished three-bedroom condominium unit from a P24-million two-bedroom condominium unit. The giant real estate property is adding a P3 million cash incentive.

"Since this is a very significant milestone in the history of Philippine sports to have two Olympic medals during our 100th-year participation as a country in the Olympiad, which also coincides with our company’s 35th anniversary this year, we are boosting our reward for Carlos Yulo now totaling to P35 million," Megaworld president Lourdes Gutierrez-Alfonso said in a statement released on August 5. "He truly deserves this and we will always be proud of him for taking Filipino excellence to the next level."

Meanwhile, the Philippine Olympic Committee (POC), through its president Abraham "Bambol" Tolentino also guaranteed a house and lot for Yulo in Tagaytay City, the same generous gesture the organization extended for Tokyo Olympics gold medalist Hidilyn Diaz, silver medalist Nesthy Petecio and Carlo Paalam, and bronze medalist Eumir Marcial.

Vikings, Tipsy Pig, and other restaurants have pledged a lifetime of free food.

SWEET SECOND 

Diminutive Filipino gymnast Carlos Yulo stood taller than his rivals as he captured his second gold medal in 24 hours, the third for the Philippines ever, in the men's artistic gymnastics vault finals.

The gymnast dynamo delivered the country's second gold in Paris with a two-vault average of 15.116, toppling Armenia's Artur Davytan (14.966) and Harry Hepworth (14.949). This came on the heels of topping the men's floor exercise on Saturday, August 3.

"Di talaga ako makapaniwala. God's grace (I still can't believe it. It's God's grace)," he said in an interview with One Sports aired on YouTube. 

He admitted to not feeling any pressure anymore. "Relax lang ako kanina, wala namang mawawala sa akin kanina (I was just relaxed as I felt like there was nothing to lose)," he said.

As he hurdled challenges before his double Olympic wins, Yulo said he learned lessons such as being content with what he has, staying humble in everything he does, and being thankful.

"Sa mga taong naniwala sa akin talaga ng totoo para sa kanila to (For those who really believed in me, this is for them)," he added while holding his men's vault gold medal.

National government agencies and the Manila city government are already planning for a hero's welcome for him. MLSA