Filipino gymnast Carlos "Caloy" Yulo will be receiving several rewards and incentives from the government and private companies following his historic win in the 2024 Paris Olympics where he clinched a gold medal.

On Saturday (Manila time), Yulo dominated the men's floor exercise event of the artistic gymnastics competition. The 'golden boy' definitely waved the country's flag after he bagged the first-ever gold of the country for gymnastics.

Alongside his medal, Yulo will be receiving P10,000,000 from the Philippine government as mandated by the Republic Act 10699 or the National Athletes and Coaches Benefits and Incentives Act.

The law cites that medalists from the Philippines will be entitled to receive cash incentives depending on what medal they'll be getting. A silver medalist will receive P5,000,000 and a bronze medalist will be entitled to bring home P2,000,000. However, these incentives are only for individual events.

Additionally, the House of Representatives will be awarding P3M incentive to Yulo for his triumphant win in the 2024 Paris Olympics.

Yulo is also set to receive an Olympic Gold Medal of Valor from the Philippine Sports Commission (PSC).

A house and lot is set to welcome Yulo as pledged by the Philippine Olympic Committee just like what the four medalists in Tokyo Olympics received.

Furthermore, property and development company, Megaworld Corporation pledged a fully furnish 2-bedroom condominium unit situated in McKinley Hill worth P24M.

On August 2, Megaworld pledged to award a condo unit to each Filipino athletes, competing at the Paris Olympics, who'll manage to bring home a gold medal.

Joining in the list is the Vikings Group that pledged to give Yulo a lifetime free access to the Vixing Luxury Buffet.

The 24-year-old gymanst may still bring home another gold medal since he is scheduled to compete in the men's vault finals today, Sunday (Manila time).