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Friends,

Mr. Olympia is the world’s most prestigious bodybuilding competition, and the 3-day event kicks off this weekend at the Planet Hollywood Resort & Casino in Las Vegas.

Past winners of the tournament include Arnold Schwarzeneggar (7x winner), Ronnie Coleman (8x winner), and Jay Cutler (4x winner), and this year’s event is expected to generate nearly $50 million of non-gaming economic impact for the city of Las Vegas.

Notable Mr. Olympia Alumni

• Arnold Schwarzenegger (7-time winner) 

• Ronnie Coleman (8-time winner) 

• Lee Haney (8-time winner) 

• Jay Cutler (4-time winner) 

• Phil Heath (7-time winner) 

• Dorian Yates (6-time winner) 

But I imagine most of you are like me and previously had no idea how this event operates — the prize money, the number of participants, etc. — so let’s get into it.

Mr. Olympia is an international bodybuilding competition that has been held annually by the International Federation of BodyBuilding & Fitness since 1965.

Joe and Ben Weider founded the event as a way for previous Mr. Universe winners to continue to compete and earn money, and the event has taken place in Las Vegas every year since 1999 — except for 2020 & 2021 in Orlando, Florida, because of COVID.

The event has 11 competition divisions for different types of physiques, including a wellness category and a wheelchair division, but Mr. Olympia and Ms. Olympia are the most coveted and are now widely considered the top titles in bodybuilding.

The event started small but has since grown into one of the world’s largest fitness gatherings. More than 10,000 people will cycle through the arena this year to watch the competition, and the weekend also includes other fan events and a fitness industry expo, which typically draws more than 60,000 participants each year.

In total, Mr. Olympia creates a nearly $50 million non-gaming economic impact on the city of Las Vegas, and they handed out $1.6 million in prize money last year alone.

Mr. Olympia Prize Money Breakdown 2021

• Total Prize Pool: $1.6 million

  • Mr. Olympia: Mamdouh “Big Ramy” Elssbiay won $400,000

  • 212 Division: Derek Lunsford won $50,000

  • Classic Physique: Chris Bumstead won $50,000

  • Men’s Physique: Brandon Hendrickson won $50,000

  • Ms. Olympia: Andrea Shaw won $50,000

  • Women’s Physique: Sarah Villegas won $50,000

  • Wellness: Francielle Mattos won $30,000

  • Fitness: Whitney Jones won $50,000

  • Figure: Cydney Gillon won $50,000

  • Bikini: Jennifer Dorie won $50,000

  • Wheelchair: Prize money was not announced

But winning Mr. Olympia can bring a lot more than $400,000 in prize money.

Let’s use Jay Cutler, for example. He is a 4-time Mr. Olympia winner and reportedly earned about $700,000 from those four victories (the prize money was smaller in the 2000s). But still, it’s estimated Cutler earned a minimum of $8.2 million during his 12-year pro bodybuilder career — from 2001 to 2013.

The reason for this is simple: high-level bodybuilders compete for recognition and popularity, but they earn the majority of their income outside of competition.

Jay Cutler’s Revenue Streams (via Nick’s Strength and Power)

• Pro show prize money: $1,280,000 (Mr. Olympia and Arnold Classic only — not counting other competitions he did)

• Supplement sponsor contract: $300,000 to $1,000,000 per year from Muscletech supplement sponsor agreement (deal varied over time)

• Magazine image licensing: $200,000 per year to use Cutler’s image in Flex and Muscular Development magazines

• DVD sales: $100,000 per year from bodybuilding instructional videos

• Nick’s total estimate for Cutler: $8,210,000 minimum from 2001 to 2013 when Cutler was a pro bodybuilder

This level of success doesn’t happen to everyone, of course. Nick estimates that four to five bodybuilding athletes consistently make seven figures each year, and these sponsorship deals are heavily dependent on social media following.

Pro Bodybuilding Sponsorship Example (via Nick’s Strength and Power)

• Less than 100k followers: <$1,000 per month 

• 100k to 250k followers: $3,000 to $5,000 per month 

• 250k to 500k followers: $3,000 to $7,000 per month 

• 500k to 750k followers: $7,000 to $10,000 per month 

• 750k to 1M+ followers: $15,000 to $20,000 per month 

  • These athletes are typically Top 6 Arnold Classic athletes, Top 6 Olympia athletes, and generally just athletes with large followings

So while winning Mr. Olympia may not be the biggest money-generating event in pro sports, it’s clear the event can provide a lot of indirect upside, including more social media followers, seven-figure sponsorship deals, and more business opportunities.

I hope everyone has a great day. We’ll talk tomorrow.

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