Olive was born in Chicago, but moved with his family to Lexington, Mississippi at a young age, which was where he finished high school.

On October 22, 1965, while moving through the jungle with four fellow soldiers in Phu Cuong, Olive smothered an enemy-thrown grenade with his body.

Olive's body was returned to the United States, where he was buried in West Grove Cemetery at Lexington, Holmes County, Mississippi.

At a ceremony on the steps of the White House, on April 21, 1966, President Lyndon B. Johnson presented the award to Olive's father and stepmother.

Honor Field is a one-mile track located in Ft. Polk, LA, which bears a plaque detailing Olive's heroics.

Through his bravery, unhesitating actions, and complete disregard for his safety, he prevented additional loss of life or injury to the members of his platoon.

Olive's extraordinary heroism, at the cost of his life above and beyond the call of duty, are in the highest traditions of the U.S. Army and reflect great credit upon himself and the Armed Forces of his country.