1928 Summer Olympics In preparation for the 1932 Summer Olympics, the United States Olympic Committee reviewed the costs and revenue of the 1928 Games. The committee reported a total cost of US$1.183 million with receipts of US$1.165 million, giving a negligible loss of US$18,000, which was a considerable improvement over the 1924 Games. Dutch nobleman, Frederik van Tuyll van Serooskerken, first proposed Amsterdam as host city for the Summer Olympic Games in 1912, even before the Netherlands Olympic Committee was established. The Olympic Games were cancelled in 1916 due to World War I. In 1919, the Netherlands Olympic Committee abandoned the proposal of
Summer Olympic Games team events. American swimmer Michael Phelps set a record for gold medals at a single Games with eight, and tied the record of most gold medals by a single competitor previously held by both Heiden and Scherbo. Another major star of the Games was Jamaican sprinter Usain Bolt, who became the first male athlete ever to set world records in the finals of both the 100 and 200 metres in the same Games. Equestrian events were held in Hong Kong. London held the 2012 Summer Olympics, becoming the first city to host the Games three times. In his closing address