France, basking in glory after being crowned champions of the 2018 World Cup final in Russia, have also earned a cummulative amount of $38 million as prize money for winning the ultimate.
On Sunday, France beat Croatia 4-2 in a highly entertaining final game at the Luzhniki Stadium in Moscow to win their second World Cup title, 20 years after winning their first at the tournament on home soil in 1998.
Croatia, despite losing the final, the second time they had been denied glory by France (they lost to the French in the semi-final of the 1998 tournament), can go home with pride, knowing their efforts were also rewarded with $22million as the prize for the runners-up.
Belgium finished as second runners-up after beating England 2-0 in the third place game on Saturday to earn $24million, $2m more than England who can equally return home proud, with their fourth-place finish as their best showing at the World Cup in the past four tournaments.
Football's world governing body, FIFA, increased the World Cup budget for prize money to $400million, representing a 12 per cent increment over than what was spent at the 2014 World Cup in Brazil. Indeed, the prize money for the World Cup has been increased with each tournament as the budget for the Mundial also goes up.
From a modest $20m in 1982 hosted by Spain, this year's total budget for the World Cup was $791m, 40 per cent above the $576 spent during the 2014 tournament in Brazil.
All quarter-finalists are set to receive $16m each while Round of 16 teams are also assured of $12m each. In addition, all 32 participating teams receiving $8 million each.
The final payment will be made to each deserving Member Association after deductions for yellow and red card offences, as well as other disciplinary actions that attract fines during the World Cup, are made.
France, who progressed steadily at the Russia World Cup, ensured victory in the end, with their coach, Didier Deschamps, also getting into the history books as only the third person to win the World Cup as a player and coach. He joined an illustrious group that includes Brazil's Mario Zagallo and Franz Beckenbauer of Germany.
Kylian Mbappe, who had been phenomenal for his team in Russia, not only finished the tournament as the Best Young Player at age 19, but also became the second young player to score a goal in the final, following in the footsteps of the great Pele of Brazil.
Pele remains the youngest player to appear in a World Cup final at the age of 17 years, having scored a brace in his side's 5-2 win over hosts, Sweden, during the 1958 World Cup.
Goals from Antione Griezmann, Paul Pogba and Mbappe helped the French beat the Croats in such decisive manner.
Ivan Perisic and Mario Mandzukic tried to re-enact a great comeback stories as they had done in all their three knockout matches, but their strikes were not enough to spark yet another miraculous Croatian comeback, and Les Bleus emulate their heroes of 1998 and spark off spontneous jubilations from their teeming fans at the stadium, at home and across the world.
World Cup prize money
3rd Place: $24million
4th Place: $22m
5th to 8th (quarter-finals): $16m per team
Round of 16: $12m per team
group stages: $8m per team