Mining magnate Gina Rinehart has pledged substantial bonuses to Australian swimmers competing in the Glasgow Commonwealth Games, aiming to incentivize medal performances and record-breaking achievements.
The incentives, offered by Rinehart, who is Australia's wealthiest individual and a noted supporter of competitive swimming, range from $10,000 for a bronze medal to $20,000 for a gold medal in individual events. Swimmers who break a world record will receive $30,000, while team members breaking a world record will earn $7,500 each. Athletes achieving multiple medals will receive the full bonus for each achievement.
Rinehart stated that these bonuses are a way for Australia to express gratitude to its athletes, who she described as outstanding ambassadors for the country. "There is something very uplifting about seeing an Australian athlete stand on the podium while our flag is raised. Such exciting times make Australians proud and deserve to be celebrated," she said.
The Australian Dolphins swim team is scheduled to compete from Friday to Wednesday in Glasgow, with the Commonwealth Games having commenced on Thursday. Australia has historically been a dominant force in Commonwealth Games swimming, holding a record of 330 gold medals since 1930. In recent Games, the team secured 28 gold medals in 2018 on the Gold Coast and 25 in Birmingham in 2022. Rinehart expressed her hope that the offered bonuses would encourage the team to set a new record in Glasgow.
Rinehart's company, Hancock Prospecting, is a significant private supporter of Australian Olympic sports, providing direct funding, scholarships, and career transition assistance. She highlighted the importance of the Commonwealth Games as a stepping stone for future Olympic champions, noting that 79% of Australian Olympic medalists previously competed in the Commonwealth Games.
Payments for the bonuses are expected to be processed within two weeks of the Games' conclusion. A swimmer winning three individual gold medals and breaking a world record could potentially earn $90,000. For team events, individual bonuses are set at $5,000 for gold, $3,750 for silver, and $2,500 for bronze, with an additional $7,500 per person for a world record.
Rinehart emphasized that these bonuses are an investment in Australia's future Olympic success and a recognition of the pride and achievement athletes bring to the nation. "Given the size of our population, we punch well above our weight on the world stage!" she added.