Phelps slayer swims to R10m pay day

Cape Town - Singapore's Joseph Schooling is set to become a very rich man following his shock gold medal in the 100m butterfly in Rio.

Schooling on Friday night stunned the swimming world when he denied Michael Phelps a fifth gold in Rio - and a 23rd overall Olympic victory - when he touched the wall first at the Olympics Aquatics Stadium.

To the victor go the spoils as they say, and Schooling's win is set to net the 21-year-old a cool $750 000 (R10 million).

Schooling, who is a student at the University of Texas, is set to cash in thanks to the Singapore National Olympic Council's Multi Million Dollar Award Programme.

Of interest is that South African gold medal winners in Rio will receive R500 000: R400 000 for the athlete and R100 000 for the coach.

Former SA Olympic gold medal winner Roland Schoeman was quick to point out that he received $2 000 for helping the SA 4x100m freestyle relay team clinch gold at the Athens Olympics in 2004.

Good. pic.twitter.com/n0UpEfDZ7s

— swimnerd (@SwimNerds) August 13, 2016

In 2004 we received $2000 for our Olympic Gold. This is what support should look like. Joseph Schooling to get $750k https://t.co/MjRBn4pIHE

— Roland Schoeman (@Rolandschoeman) August 13, 2016