Financial hurdles hit Olympians: Alexis Ohanian steps in to help

Although the International Olympic Committee (IOC) doesn't award cash prizes for medals won, some top athletes receive financial support from governments and private sponsors. CBS News reports that this support can take many forms—from cash to real estate.

However, sustaining themselves through training and daily life presents a significant challenge for many athletes. An example is Veronica Fraley, an American discus thrower, who had to publicly express her financial need on the social media platform X.

Among those who responded to her plea was the legendary rapper Flavor Flav, promising immediate financial help.

"DM me and I'll send payment TODAY so you don't have to worry bout it TOMORROW and imma be rooting for ya tomorrow LETZ GO,!!!!" wrote Flavor Flav on the platform X.

Serena Williams' husband, Alexis Ohanian, also joined the effort. In a short time, Ohanian confirmed a payment of $7,760.

The financial struggles of Olympians are also reflected in the disparity in the monetary awards for Olympic medals in different countries. For example, in the United States, a gold medalist can receive a bonus of $37,500, significantly lower than the $737,000 that Singapore offers for gold.

Alexis Ohanian does not have to worry about finances. He co-founded Reddit, one of the most popular social media platforms, and has also invested in large internet companies.

His relationship with Serena Williams became public in 2015, and a year later, the couple got engaged. In 2017, they welcomed their daughter Alexis Olympia, and they were married by the end of that same year.