After Carlos Yulo’s successful two-gold-medal win at the 2024 Paris Olympics, a digital entertainment company presented the gymnast with a P5 million cash reward and a plaque of appreciation as symbols of gratitude for the honor he brought to the country.
Carlos received the cash gift during the “Astig Ka, Carlos!” press conference last Saturday, August 31, where his remarkable dedication, talent and hard work were honored.
The Olympian thanked the entertainment company for recognizing his perseverance, dedication and encouragement to Filipino athletes like him.
“Success does not come overnight — it is made possible with the support of those who believe in you. I’m honored to have incredible partners by my side as we chase dreams for the Philippines,” he said at the press conference organized by DigiPlus and the sports betting app Arena Plus he is endorsing.
For Eusebio Tanco, chairman of the digital entertainment company, it is important to have a solid foundation for Filipino athletes to guide and motivate them to reach their dreams and full potential.
“Carlos’ victories at the Paris Olympics are not just personal triumphs; they are a beacon of hope and possibility for every aspiring Filipino athlete dreaming of making their mark on the world stage,” he said.
“Carlos’ success is a powerful reminder that with dedication, hard work, and the right support, Filipinos can achieve greatness,” the chairman added.
Carlos made history at the Paris 2024 Olympics by winning gold in both the men’s floor exercise and men’s vault finals, becoming the first Filipino male to win a gold medal and the first to secure two in a single Olympic Games.
The Olympian is receiving over P100 million in gifts and cash incentives in addition to the reward from DigiPlus.
READ: Pledges, perks: What Carlos Yulo will take home apart from Olympic gold medals
Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act, guarantees P10 million for athletes who win a gold medal in international competitions.
The Philippine Olympic Committee also awarded him a house and lot in Tagaytay City, while Philippine Airlines granted him 150,000 Mabuhay Miles per year for life.
Several private companies and individuals also pledged rewards, including cash from tycoon Manny V. Pangilinan, a three-bedroom property from Megaworld, and brand-new Toyota and Cherry Tiggo SUVs.
Meanwhile, the Bureau of Internal Revenue announced on August 25 that Yulo will be exempt from taxes on the millions of incentives he received (money and property).
