The secretive group that runs the Olympics is expected to earn a record $8 billion in the 2009-2012 quadrennial cycle, according to Sportcal.
Formed to promote "Olympism," the International Olympic Committee doesn't get rich off the Games, but they do enjoy themselves.
The 109-member Committee gets wined and dined by cities and corporations bidding for contracts, and they get treated like royalty at the Games.
Several times they've been caught taking bribes, but generally what happens in Switzerland stays in Switzerland.
Where Olympic Money Goes
Meet the Secret Group Earning $8 Billion From the Olympics
A doctor, a knight, a count and a three-time Olympian in yachting, Belgian Jacques Rogge, 70, is the ideal president of the IOC.
The Committee, which can hold up to 115 members, is composed of royals, nobles, CEOs and Olympians. Since Rogge took the helm in 2001, it has opened up to a larger number of Olympians. Still the IOC's co-option method of selecting members ensures that it remains an elite group.
"The tax exemption is very important. I have no concrete figures on how much we save in dollars and cents. But the tax exemption means that we can spend even more money on our Olympic solidarity work," said IOC member Gerhard Heiberg in an interview with Danish newspaper Information.
The scandal led to the resignation of the two heads of the Salt Lake Olympic Committee and several IOC members.
PHOTO: The International Olympic Committee (IOC) shows their received gifts during a press session at Lausanne, Switzerland on Thursday Jan. 14, 1999. Among the gifts, the Browning 9mm single action, right, offered by Salt Lake City, USA.
The Olympic Partners sponsorships were worth $957 million from 2009 to 2012.
Eleven companies paid to join this prestigious group, including McDonald's, Coca-Cola, Proctor & Gamble, Ator, Atos Origin, Dow Chemical Company, General Electric, Omega, Panasonic, Samsung Electronics and Visa.
These companies also nabbed exclusive deals to supply and advertise at the Olympic Games.
London's organizing committee earned an estimated $2.14 billion, according to Sportcal. This includes $1.1 billion from domestic sponsorship; $931 million from ticket sales; and $125 million from licensing
Another $989 million was raised in 2010 by the Vancouver Organizing Committee.
Organizing Committees put on the Games with this money plus funding from the government.
PHOTO: Prime Minister David Cameron visits the Olympic Park with Lord Sebastian Coe, Chairman of the London Organising Committee of the Olympic Games ahead of the London 2012 Olympics on July 26, 2012 in London, England.
Organizing Committees receive around half of broadcast revenue, half of international sponsorship revenue, and all revenue from domestic sponsorship, ticket sales, and licensing. (At least that's our best understanding of this opaque organization.)
The larger and more popular Summer Games receive a larger share of the money.
Fun fact: Mitt Romney was the CEO of the Organizing Committee in the 2002 Salt Lake City Games.
National Olympic Committees receive the largest part. These organizations are in charge of training and developing Olympic teams.
The US Olympic Committee receives more than other Olympic Committees since US media rights bring in by far the most revenue. Poor National Olympic Committees also receive extra money through the Olympic Solidarity program.
Athletes receive no money directly from the IOC, but most receive bonuses from their National Olympic Committee for medaling. The USOC hands out $25,000 goes for gold, $15,000 for silver, and $10,000 for bronze.
Malaysia promises $600,000 to any gold medal winner in the form of a gold bar, though they haven't won one since 1956.
The real money for athletes is in endorsements. Lochte is expected to take home around $2 million is endorsements from these games. Unfortunately most athletes aren't famous enough to earn much if any from endorsement deals.