Hancock Prospecting has announced bonuses will be given to Australia’s medal-winning swimmers following success at the Commonwealth Games in Glasgow, Scotland.
The mining magnate and Australia’s richest person has given over $1.2 million ($1,272,500) in bonuses to the athletes, for what Ms Rinehart describes as a “spectacular effort”.
“Few people, outside of the swimming families, truly understand the years of hard work, discipline and sacrifice required to compete at this international level. Yet again, our Aussie swimmers, punched well above our population size,” Rinehart said in a statement.
The rewards for winning medals at the games focus on sports in which Rinehart is patron of and includes swimming, artistic swimming and rowing. Rewards range from $20,000 for a gold medal to $10,000 for a bronze, with additional money being given if a world record is broken.
“Our swimmers have come so far since the London Olympics, where just one swimming gold medal was won, to now standing as the second-best swimming nation in the world,” Rinehart said.
“This success also reflects the years of sacrifice from parents, coaches and volunteers behind the scenes who help the swimmers make these fantastic results possible.”
The support for athletes is said to continue Rinehart’s long-standing private support of Olympic athletes which spans annual direct funding, scholarships and career transition assistance.
Currently, Australia leads the medals table at the Commonwealth Games, with 94 medals in total. This includes 41 gold, 21 silver and 32 bronze.
Rinehart and Hancock Prospecting are said to be among the largest private supporters of Olympic sports in Australia.
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