Jo Schooling & Singapore's Olympic Gold

What an incredibly inspiring story... A young boy of 13 meets his hero Michael Phelps, then 8 years later finds himself competing against that same hero and wins in the most crucial swim of his life, on the world stage, in the most intimidating sporting event in the world and creates a new record! 

We've read a lot about it in the Singapore newspapers. The government bestowed a million dollar prize on Schooling. And a smart reporter did some number crunching and estimated that Schooling's  parents probably spent about 1.2 million dollars on his training already - all self sponsored at an American university under the best coaches in the world. While Schooling deserves every bit of awe that he has generated, isn't it sad how elitist sports have become? What chances does a poor boy from any of the poor Asian countries stand in the world of sports if those are the financials involved?