USA Wrestling has added four donors to its big-money Living the Dream Medal Fund, an incentive program that’s given $1.75 million to medal winners since 2009.
Among the new donors are David McCormick, president of major investment fund Bridgewater Associates, and Jack Moses, a tech entrepreneur. Both have committed to fund 5 percent of prizes in the next four years.
Two more have come along with set-price promises: Khosrow Semnani, a Utah-based former energy industry executive and philanthropist, has committed $20,000 for gold, $10,000 for silver and $5,000 for bronze winners, along with bonuses for winning coaches. John Smith, Oklahoma State coach and the last U.S. repeat gold medalist, agreed to $3,500 for freestyle wrestling golds.
McCormick, whose firm has more than $150 billion in assets under control, joined after the fund’s co-founder, former Fortress Investment Group principal Mike Novogratz, invited him. McCormick wrestled at West Point when Novogratz was captain of the Princeton wrestling team. Moses, who recently created a mobile app for wrestling team management, said the fund will help him support a sport he loves.
USA Wrestling wants the fund ultimately to have 20 donors to spread the cost. The new additions make it 13.
This year, USA wrestlers won two golds and a bronze in Rio, good for $525,000 from the fund.
