The globally acclaimed business publication, Forbes released a list recently in which it adjudged the highest paid tennis players for 2023 taking both men and women into account. Compared to 2022, there is a notable change in guard this year when it comes to riches acquired and it involves a battle between Novak Djokovic and Carlos Alcaraz again. Over the years, on most occasions, Swiss maestro Roger Federer had topped the list even as his form on court shrinked after 2019.
However, in 2023, Novak Djokovic has been declared as the richest tennis player in the world. At 5th position is his biggest rival, Rafael Nadal while the list also includes the likes of women’s World No.1 Iga Swiatek and 2021 US Open champion, Daniil Medvedev. Apart from Djokovic’s rise to the top when it comes to finances as well, it is interesting to note that after him at No.2 is Carlos Alcaraz, who has earned virtually double than what his idol, Nadal did.
Carlos Alcaraz earns the big bucks at just 20
When it comes to the current World No.1, Forbes has stated that the 2o-year-old Spanish star has secured $31.4 million, which is incredibly much more than Rafael Nadal. Nadal, who is still the 5th richest in 2023, took home a mere $15.5 million. Courtesy an average second half of 2022 as well as getting sidelined due to injury for most of 2023, the former World No.1 earned just $1.5 million on court.
Now, most players do not get the confidence of their sponsors if they are injured or out of form for an extended period. Yet, it is a proof of Rafael Nadal being an exception, since he is globally so admired and liked that he remains a marketer’s delight. Nadal managed to bag an impressive $14 million purely due to his business investments and endorsements. He recently signed up with Subway and Infosys, two big names across the world in the fast food and technology sectors respectively.
Novak Djokovic is the No.1 this year, taking home $13.4 million in prize money and another $25 million from his off-court earnings. Adding up to $38.4 million, the 23-time Grand Slam champion is $7 million ahead of Carlos Alcaraz. Djokovic is $16 million richer than the player who is No.3 on the list, Iga Swiatek who is the women’s No.1 player in the world.
Once again, it is likely that questions could be raised on men and women being paid on an equal level. Yet, Swiatek too like the men, has earned more off the court ($14 million) than on it ($8.4 million). Thanks to IMG managing her, she has scored deals with the Roger Federer-backed Swiss apparel brand On, Oshee sports drinks and most recently, Visa amongst other companies.
At No.4, just above Rafael Nadal, Daniil Medvedev comes as a surprise addition to the list. Forbes claims that he earned $13 million out of his $20.1 million off the court courtesy his 9 long-term sponsors, which include Lacoste, HyperX, Technifibre, Bovet and BMW. Medvedev’s consistency with winning ATP titles and making it to the last stages in many tournaments has helped him too in prize money.
Overall, Novak Djokovic and Carlos Alcaraz clearly are the standouts this year for different reasons. However, Carlos Alcaraz will definitely be an inspiration for his young competitors as well as aspiring professionals. Coming from a Spanish village, his motto of focussing on his game and bettering himself while the riches will take care of itself, is something many would now think they can follow rather than those words just being used out of thin air.
How does Alcaraz make millions off the court?
Carlos Alcaraz has managed to reap more rewards off the court than on it, with the amount adding up to a whopping $20 million. Alcaraz’s sponsors list already includes the likes of Louis Vuitton, Calvin Klein, Nike, Rolex, BMW and Babolat, showing that he is already considered the present and the future of tennis.
According to Brand Finance, Carlos Alcaraz is earning the most at the moment from BMW as the German luxury car maker is paying him $33.29 million in a multi-year deal. Similarly, Nike is not too far ahead at $32.53 million. And most recently, Alcaraz signed a deal with Louis Vuitton worth $27.25 million. Perhaps courtesy Rafael Nadal’s success and 38% of the Spanish population passionately following tennis, it is a great time indeed to be Carlos Alcaraz.
