$100 Million to support Olympic athletes

For athletes who have committed their lives to represent the United States in the Olympic and Paralympic Games, the United States Olympic & Paralympic Committee (USOPC) revealed a groundbreaking initiative to provide unprecedented financial support.

The new program has been made possible by the bold vision and $100 million anchor funding gift to the United States Olympic & Paralympic Foundation (USOPF) from Ross Stevens, long-time Team USA supporter and Founder & CEO of Stone Ridge Holdings Group.

“These extraordinary individuals have committed their lives to their sport, often at the expense of traditional career paths and financial savings,” said USOPC Chair Gene Sykes. “As they approach the end of their competitive journeys—often as young as 25 or 30—many face a daunting reality: the lack of financial savings to support them and their loved ones in their post-athletic life.”

The Stevens Financial Security Awards (Stevens Awards) provide U.S. Olympians and Paralympians significant financial benefits in the post-athletic period of their lives, both in terms of income and benefits for their families and beneficiaries. The awards empower their dreams while building peace of mind for the future beyond their time representing Team USA.

“Because of Ross’ extraordinary generosity and philanthropic creativity,” Sykes continued, “we can create more than a financial safety net— we can build a springboard that will propel these athletes to even greater heights beyond their Olympic and Paralympic careers.”

Stevens adds, “I do not believe that financial insecurity should stop our nation’s elite athletes from breaking through to new frontiers of excellence. The Stevens Awards honor the sacrifices they have made on behalf of all Americans while inspiring the development of their dreams in the post-Games chapter of their lives.”

Anchored by Stevens’ historic $100 million gift—the largest gift in the USOPC’s history—the Stevens Awards will provide economic stability for U.S. Olympic and Paralympic athletes.

Starting with the Olympic and Paralympic Games Milan-Cortina 2026, and going at least through the 2032 Games, every U.S. Olympian and Paralympian will receive $200,000 in financial benefits for each Games in which they compete:

• $100,000 to Live: eligible athletes will be able to access this award 20 years after their qualifying Games or at 45 years of age, whichever is later. The grant will be paid over the course of four years and can be used for any purpose, such as starting a business or supporting their families.

• $100,000 to Protect: eligible athletes will receive a guaranteed benefit for their families or chosen beneficiaries upon their death.

• Multiplier effect: eligible athletes will receive $200,000 in benefits for each Games in which they compete. For instance, an athlete competing in three Olympic or Paralympic Games would receive $600,000 in benefits.

The program combines the power of compounding—the idea that money invested today can grow exponentially over very long periods—with the power of guaranteed benefits made possible by life insurance.

“Ross’ gift is extremely innovative in its design,” said Ted Mathas, Senior Advisor to Stone Ridge and former CEO and Chairman of New York Life. “The mission of Ross’ firm is to provide financial security for all. Here, he applies his creativity in finance to achieve that same goal for our country’s most elite athletes.”

Stevens’ gift continues his track record of innovation in philanthropy, which includes establishing the first fintech center at a major business school (Wharton), transforming the PhD program for the outstanding business school students at the University of Chicago (Booth), and using bitcoin to empower human rights activists in authoritarian countries.

“Admiration of U.S. Olympians and Paralympians is uniquely bipartisan, uniting all Americans, and reminding us of our shared humanity,” said Stevens, who adds that Stone Ridge will match the contribution of any Stone Ridge employee to this program dollar for dollar, hoping to inspire other firms to follow Stone Ridge’s lead.

Sykes and Stevens issued a call to action for additional financial support, whereby the program will live forever and support every generation of Olympic and Paralympic athletes to come.

As 60% of U.S. Olympic and Paralympic medals are won by athletes who participated in previous Games, it is the vision that by providing financial support for athletes, they can continue competing with increased support for each Games in which they compete.

Los Angeles 2028 Olympic Sailing Program*:
Men’s One Person Dinghy – ILCA 7
Women’s One Person Dinghy – ILCA 6
Mixed Two Person Dinghy – 470
Men’s Skiff – 49er
Women’s Skiff – 49erFX
Men’s Kiteboard – Formula Kite Class
Women’s Kiteboard – Formula Kite Class
Men’s Windsurfing – iQFOiL
Women’s Windsurfing – iQFOiL
Mixed Multihull – Nacra 17

Venue: Long Beach, CA
Dates: July 21-August 6

* World Sailing voted to keep the Paris 2024 Sailing Program for Los Angeles 2028, but the program is not final until the IOC approves all events, which usually occurs between December 2024 and January 2025. To date, this decision has not been made.