Who is Ross Stevens? All about American Philanthropist who announced $100 million for U.S. Olympic and Paralympic athletes

U.S. Olympic and Paralympic athletes received a boost as American Philanthropist Ross Stevens donated $100m million to the USOPC. The fund will act as a post-retirement plan, with every Olympic participant getting a massive $200,000 for each appearance at the sporting event.

The fund will be known as the "Stevens Financial Security Award" and is the largest single monetary donation in the history of the US Olympic and Paralympic Committee, which is a non-profit organization and doesn't receive government funding.

Stevens said the award would honor the sacrifices made by the athletes to represent Team USA at the quadrennial event.

"Team USA athletes, extraordinary individuals, have proven they can achieve greatness and represent our incredible country with pride," Stevens said in a statement. "The Stevens Awards honor the sacrifices they have made on behalf of all Americans while inspiring the development of their dreams in the post-Games chapter of their lives."

USOPC Chairperson Gene Sykes said the fund will act as a financial safety net for athletes that would propel them to new heights.

“Because of Ross' extraordinary generosity and philanthropic creativity, we can create more than a financial safety net— we can build a springboard that will propel these athletes to even greater heights beyond their Olympic and Paralympic careers," Sykes said. (via USOPC)

The fund will be effective from the 2026 Winter Olympics, with each participant guaranteed to receive $200,000 over a four-year period 20 years after their qualifying Games or when they turn 45, whichever is later. The athletes participating in two Games will receive $400,000, while those who compete in three Games will get $600,000.

Previously, Olympic participants received only a small stipend, while those who won gold medals were awarded a one-time payment of $37,500.

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Who is Ross Stevens?

Ross Stevens is the Founder and CEO of Stone Ridge Holdings Group, an asset management company. He received his PhD in Finance and Statistics from the University of Chicago (Booth) and his BSE in Finance from the University of Pennsylvania (Wharton) in 1991.

Stevens started his career at Goldman Sachs and worked at Bank of America and Jefferies before founding Stone Ridge in 2012. The American financier also founded the New York Digital Investment Group (NYDIG) in 2017 and serves as its Executive Chairman. The NYDIG is a a bitcoin trading and banking firm and was valued at $7 billion in 2021.

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Ross Stevens Philanthropy

As per Stoneridgeam.com, Ross Stevens' philanthropy focuses on "human excellence and human rights, including founding the Wharton’s Stevens Center for Innovation in Finance, enhancing Booth’s PhD program (renamed Stevens Doctoral Program), and empowering activists in authoritarian countries with bitcoin"

He made a $100 million donation to the University of Pennsylvania to set up the Stevens Center for Innovation in Finance at Wharton in 2019.