Joseph Schooling's gold medal comes with a ridiculous payday

After winning the 100m butterfly final in Rio, Joseph Schooling will take home more than just an Olympic gold medal and the pride that comes with beating Michael Phelps.

Schooling's victory, the first-ever gold for Singapore, comes with a $984,000 pay-out from his country.

What a moment. Image: Getty

Singapore's gold-medal payout is far and away the richest in the world, $370,000 ahead of the next highest country on the list and eclipsing the paltry $25,000 Americans earn for a first-place finish (before taxes).

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Not too bad for a 21-year-old.

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