The Olympics, a 16-day sporting event with opening and closing ceremonies, involve massive costs, such as the $49.96 billion spent on Sochi 2014. The International Olympic Committee (IOC), a non-governmental organization, oversees the Games, which feature athletes from 206 National Olympic Committees and the IOC Refugee Olympic Team. The modern Olympics, revived in 1896 by Pierre de Coubertin, have evolved significantly, including more women's events and diverse sports, while some original competitions like live pigeon shooting and club swinging have disappeared.
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