Olympic icon auctions medals for millions after financial distress
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Reading Time: 3min | Sat. 06.09.25. | 16:00
The 65-year-old four-time Olympic gold medalist announced that he is moving to Panama after selling his California home and many of his personal belongings
One of the greatest divers in history, Greg Louganis, is embarking on a new chapter of his life outside the United States.
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The 65-year-old four-time Olympic gold medalist announced that he is moving to Panama after selling his California home and many of his personal belongings.
In a heartfelt Facebook post, Louganis revealed he had decided to donate, sell what can be sold, give gifts, and give where things might be needed or appreciated.
He expressed gratitude for the sale of his longtime home, adding that he thanked and blessed the house to bring joy, love, peace, happiness, and a sense of safety to those who entered.
Louganis, who dominated the sport of diving between 1976 and 1988, also parted with three of his Olympic medals earlier this summer.
Despite initial hesitation, he said financial necessity pushed him to auction the medals, a decision that ultimately generated more than $400,000 (approximately Ksh52 million).
His 1984 Los Angeles gold medal fetched $199,301, while his 1988 Seoul gold medal went for $201,314. His silver medal from the 1976 Montreal Games, which he won at the age of 16, sold for $30,250.
“I told the truth; I needed the money. If I had proper management, I might not have been in that position, but what is done is done; live and learn," he wrote.
Auction house RR Auction, which handled the sales, praised Louganis’s enduring legacy.
“When an icon like Greg parts with his medals, it’s a moment that goes far beyond the auction block,” said Bobby Livingston, the company’s executive vice president.
Louganis’s career is cemented in Olympic history. Most notably when he became the first man to sweep all diving events in consecutive Games, achieving the feat in 1984 and 1988.
Beyond sport, Louganis has been a powerful voice for LGBTQ+ rights, HIV/AIDS awareness, and mental health advocacy.
He came out publicly as gay in 1994 and revealed he was HIV-positive the following year, later becoming a symbol of resilience and activism.
As he prepares for his new life abroad, Louganis said he is eager to embrace the change. He further added that the move is an opportunity to continue discovering more about himself.
"At least this is my goal, and hey, I may not find that. I think I may find it at times, in moments, my goal is to live it! Discover, allow, and nurture that human spirit through the experiences of life.
To be joyful in the moments, embrace the grief, the anger, and the laughter, and embrace it all, feel it all in this experience we call our lives.
Did I love well? Was I kind? Letting go of all judgment and criticism of self and others. Be kind in thought and deed! Train that monkey mind!" he wrote.
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