If they currnetly make more than $1 million, they are ineligible. And they won't get the money immediately. They get $100,000 20 years after they compete or when they turn 45 (whichever happens first) and $100,000 when they die.
The United States 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.
Eddie Pells of the AP wrote:
The United States 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 cryptocurrency and fine art....
His donation provides the starting money for a program that:
• Will pay a $100,000 grant, divided over four years, to every U.S. Olympian, starting with those on next year’s Winter team competing in Italy. That money can be used for any purpose and can be accessed 20 years after their qualifying Olympics or once they reach 45, whichever comes later.
• Will pay a $100,000 benefit to a designated beneficiary upon their death.
• Will duplicate these benefits for every Olympics an athlete makes; so, someone who goes three times would get a total of $600,000 in benefits.
• Will be restricted to athletes who make less than $1 million per year, so as not to divert funds to, say, well-paid NBA players or top tennis stars who also compete for Team USA.
• Is funded through at least 2032 with a goal of going beyond that.

