And for his achievement, Schooling will be paid handsomely.
As Stefanie Loh of Seattle Times Sports notes, Schooling just became a millionaire in Singapore.
That’s because Singapore tops the rest of the world in prize money for winning a gold medal. According to Fox Sports Australia, athletes who win Olympic gold medals get paid 1 million Singapore dollars for their achievements (roughly $983,000 American).
Comparatively, Americans who win gold get paid $25,000 before taxes.
So, Schooling not only goes down in history as the first gold-medal Olympian from Singapore and the first swimmer to beat Phelps in the 100m butterfly since 2004 — he also is much richer than he was Friday morning.