A Record 100 Million Donation Will Give Next Gen Of Us Olympians 100k To Spend After They Retire

The U.S. Olympic team received its biggest donation ever - 100 million - to fund 100,000 payments and matching life insurance benefits for anyone who earns a spot on Team USA starting next year.

The donation to the U.S. Olympic and Paralympic Foundation is from Ross Stevens, the founder and CEO of Stone Ridge Holdings Group, a finance firm that focuses on "nontraditional" investment options such as crypto and fine art.

"I do not believe that financial insecurity should stop our nation's elite athletes from breaking through to new frontiers of excellence," Stevens said in a statement announcing the deal Wednesday.

The U.S. is among the few countries whose government does not fund its Olympic program or its athletes. The U.S. team is dependent on sponsorship and media deals for around 75-80 of its revenue, along with fundraising for between 10-20.

It leads to a system full of Olympians who live near the poverty line while chasing their sports dreams, and can end up there in retirement, as well. The foundation's president, Christine Walshe, said last year that 57 of U.S. athletes earn 50,000 or less a year.