How Carlos Yulo Is Learning To Handle What He’s Earned
Carlos Yulo’s money story starts long before any recent interview. It runs through a bank account he didn’t always control, a girlfriend who once covered for him financially, and a construction site in Filinvest City where he’s now putting his own earnings to work.
Building A Gym With His Own Money
The clearest example of where Yulo’s money is going right now sits in Filinvest City. He’s partnered with the developer on an Olympic-grade gymnastics facility, already under construction, meant to double as his training base and a pipeline for young Filipino gymnasts. He’s planning branches in Cebu and Davao once that one is running. “Hindi naman po ako matagal na magiging atleta. Hindi ko ito kaya hanggang mag-50s ako,” he said, explaining the timeline. Coaching is next on his list once he steps away from competition.
The Habits He Picked Up From EastWest
Before the gym, before the medals, Yulo was already an EastWest Bank client. It started small, a deposit account and a credit card to save and cover training costs. As his income climbed, the bank paired him with a Priority Relationship Manager who taught him how to move from parking money to actually growing it. EastWest made him an official brand ambassador in October 2024, though Yulo has said the working relationship predates that announcement.
What The Government Takes And Doesn’t
Winning gold comes with its own set of rules. Republic Act 10699 gives Php10 million per Olympic gold from the Philippine Sports Commission, so Yulo’s two Paris wins added up to Php20 million, none of it taxed. Government real estate gifts fall under the same exemption. Brand deals don’t get the same treatment. Once Yulo signs on to promote a company, that income counts as a talent fee and gets hit with both income tax and business tax.
Behind The Numbers, A Learning Curve
None of this makes Yulo a natural at handling money, and he doesn’t claim otherwise. In a recent sit-down with Karen Davila on 1ON1, he named his girlfriend, Chloe San Jose, as someone who’s been guiding his financial decisions, saying he wasn’t given that kind of guidance by people around him before. That line traces back to 2024, when Yulo said his mother, who had managed his bank accounts, had withdrawn funds without telling him. San Jose, who has her own income, reportedly covered for him during stretches when he didn’t have control of his own money. Six years into their relationship, she’s part of the circle he now relies on.
Yulo doesn’t dress it up. He’s said flatly that money isn’t his strength and that he’d rather put his energy into gymnastics. What he does say he’s willing to do is learn, with the people around him walking him through it.
