In 1938, one of the world’s most famous athletes opened a laundry business.
The Jesse Owens Dry Cleaning Company in Cleveland demonstrated how difficult it was for Olympians of the time to turn world triumph into a steady income: in 1939, Owens filed for bankruptcy.
In the 1930s, the constraints of amateurism and the oppression that came with being black led Owens to travel the country seeking appearance fees at local events, sometimes racing fans, cars, and even horses.
“People said it was humiliating for an Olympic champion to race a horse,” Owens later said, “but what could I do? I had four gold medals, and you can’t eat four gold medals.”
But by the 1970s, Owens had found a consistent calling: public speaking. In 1972, he gave nearly 100 talks, earning him a reported $75,000 (more than $500,000 in 2024 dollars). He learned to craft stories about his exploits on the track that would resonate with salesmen, statisticians, and even grade-school kids.
More than 50 years later, a growing number of Olympic and Paralympic athletes are doing the same.
The ways to turn medals into money have multiplied over the past century. Athletes today sign long-term brand deals, become coaches, become media personalities, or host traveling shows that earn millions of dollars. Some athletes maintain their star status on social media and reality TV.
But perhaps the most common, and sometimes most lucrative, way to make money post-Olympics is through corporate speaking engagements.
Big companies like Coca-Cola and Google regularly bring in celebrities to motivate employees, conferences use them to keep attendees engaged, and schools and local speaking events are always on the lookout for high-profile guests. These appearance fees can make up 50% to 80% of an athlete’s annual income.
The overall “motivational speech” market generated an estimated $1.9 billion in revenue in 2019, with former U.S. presidents, A-list celebrities and well-known leaders leading the way, but Olympians are also popular for their relatability, four-quadrant appeal and the possibility of a photo op with their iconic medals.
“Olympic speakers, in some ways, are an ever-popular category,” says Julie Leventhal, vice president of Wasserman Speakers. “When people are hosting conferences and events, they’re looking for stories and messages about goal setting, teamwork, achieving excellence, having a winning mindset, resilience and overcoming adversity.”
2002 speed skating gold medalist Derek Parra began his speaking career when his agent, Patrick Quinn, received a call from a Florida hospital asking if Parra would attend an upcoming event and talk about his experience for $20,000.
“I said to myself, ‘Did I say $20,000?'” Quinn recalls. “‘Of course he’s there.'”
The two practiced Parra’s routines together, and in the process Parra built a reputation for himself on stage, performing at the Republican National Convention in Tampa a decade later.
“He was easily making over $1 million just from speaking,” said Quinn, whose experience prompted Quinn, now with Chicago Sports & Entertainment Partners, to start a speaking division within his agency.
CSEP’s clients range from people who make $1,500 visiting Knights of Columbus chapters to people who make more than $50,000 for a single speech. Olympians are trained to speak to groups of 40 top employees and conference rooms of more than 4,000 people.
“Our speaking business is now much more than a sponsorship business,” Quinn said.
From an athlete’s perspective, corporate speaking engagements offer a flexible schedule that can fit around ongoing training, networking opportunities that serve as a gateway into the business world, and a chance to continue spreading their message after they’ve stepped onto the Olympic stage.
An online speaker directory lists a long list of medalists for event planners to choose from, including every member of the 1996 U.S. “Magnificent Seven” gymnastics team. Several broadcasters also supplement their income by participating in the circuit.
The competition is fierce and requires dedication to establish a permanent place in the tournament. Money can be made in the afterglow of a well-received tournament in Paris, but opportunities can disappear once the spotlight fades. As motivated athletes hone their speaking skills, they are open to new types of coaching.
They’re finding that there’s a hierarchy in the business: Those who are comfortable in Q&A sessions stay in a certain tier, while those who can deliver commanding keynote speeches command higher fees.
“We know that if the person you send to speak isn’t a great person, it’s going to be hard to keep promoting them,” said Jeannie Goldstein, co-founder of CSEP.
Unique stories help. One of Wasserman’s most well-known speakers, along with Mia Hamm and Mike Tirico, is Scout Bassett, who grew up in an orphanage in China and won bronze medals in both the women’s 100 meters and long jump at the 2017 World Para Athletics Championships. She appeared on LinkedIn’s Speaker Series that same month. Wasserman speakers currently work with more than 40 athletes with Olympic experience, plus six Paralympians.
For agents, the Olympics bring new opportunities to secure additional work for their clients and scout for potential roster additions, and Quinn monitors TV coverage and countless Google Alerts to find athletes with compelling stories.
Runner Grant Fisher and cyclist Kristen Faulkner have caught his eye with their incredible achievements, and he believes they could have long careers as speakers if they put in the effort.
Macro trends in the speaking industry are driving the top revenue streams: One year, there might be a surge in demand for speakers who can speak about diversity or mental health awareness; right now, AI is all the rage.
“The good news is that you never run out of people looking for inspiration,” Quinn said.
