Foxconn founder wants better cash rewards for Olympic medalists

Taiwanese billionaire businessman Terry Gou, right, is pictured alongside his Facebook post on Saturday, July 31, 2021. (NOWnews/Courtesy of Terry Gou/Facebook)

TAIPEI (The China Post) — The glory of winning a gold medal is a massive incentive for athletes competing in the Tokyo Olympics but better cash bonuses could perhaps add a more lucrative dimension to the games.

The size of official bonuses on offer in Taiwan remains insufficient though, according to Taiwanese billionaire businessman Terry Gou (郭台銘) who is the founder of the Foxconn Technology Group, also known locally as Hon Hai Precision Industry (鴻海科技集團).

Gou suggested on Saturday that the government increases the cash rewards for athletes who win medals at the Olympic Games — NT$100 million for the gold medal (US$3.5 million), NT$80 million for the silver medal (US$2.8 million), NT$50 million for the bronze medal (US$1.7 million) and NT$20 million for the fourth place (US$715,919).

If a local athlete breaks Olympic or world records, the businessman also recommends offering an extra NT$100 million, stressing that successful athletes need more resources to assist in improving Taiwan’s sporting environment and bringing up the next generation.

“Our moods are up and down” while our Olympic athletes are competing, he wrote to Facebook. “Our blood is boiling, we want to win, we want to cheer for the athletes, we are united by sports.”

“The focus on sports should not only be once every four years,” he continued, “the performance of Taiwan athletes in the Olympic Games should be given greater encouragement because their medal-winning and record-breaking performances mean much more to Taiwan than sports!”