U.S. Olympian Athletes to Receive $200,000 Gift Regardless of Medals
Beginning with the upcoming Milan Cortina Games, every U.S. Olympic and Paralympic athlete will receive $200,000, regardless of whether they win a medal, thanks to a $100 million gift from billionaire Ross Stevens, according to Fortune. Stevens, the founder and CEO of Stone Ridge Holdings Group, made the donation to the United States Olympic & Paralympic Committee (USOPC) in 2025, marking the largest gift in the organization's history.
The initiative aims to provide financial security for athletes who often forgo other career opportunities to train for the Olympics. Athletes will receive the first $100,000 at age 45 or 20 years after their first qualifying Olympic appearance, whichever comes first, according to Fortune.
In other news, U.S. Treasury Secretary Scott Bessent drew a connection between young Americans' skepticism of capitalism and their lack of investment in the stock market, Fortune reported. In an interview with CNBC's Sara Eisen at the Treasury Department's Trump Accounts Summit in Washington, Bessent cited a Gallup poll indicating that 39% of Americans have a favorable view of socialism, while just over half view capitalism positively. He linked this sentiment to the statistic that approximately 38% of American households have no exposure to equities. "I think that dovetails somewhat—that 38% of American households have no exposure to equities," Bessent said, according to Fortune.
Meanwhile, the Federal Reserve held interest rates steady, taking a pause from rate cuts to assess the economy, NPR reported on Wednesday. Federal Reserve chairman Jerome Powell and his colleagues maintained their benchmark interest rate. This decision comes amid a pressure campaign from President Trump to lower rates more aggressively, according to NPR.
Also, NPR reported on the Trump administration's efforts to reverse climate change policies. According to NPR, President Trump calls global warming "a hoax." As the U.S. faces more severe storms and extreme weather events, the New York Times' David Gelles described what this means for climate change policy.
Finally, research featured in Nature suggests that completing difficult tasks can feel rewarding due to brain chemistry.
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