Casper Ruud has been impressing his fans with his activities on and off the tennis court. He is one of the two players in the top 10 of the men’s singles rankings who pay their taxes while staying in their home country. Ruud had reportedly paid $450,000 in taxes in 2022 and did so without having an accountant. Fans have been impressed by his work ethic even off the ATP Tour, as per a recent discussion about the same on Reddit.
Half of the top 30 ATP players have their main residence registered in a tax free country
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Casper Ruud and Carlos Alcaraz are the only top players who spend most of their time at their residences in their respective countries. Many of the top players on the ATP Tour, including Novak Djokovic, had listed their official residence as Monte Carlo in Monaco. They have not listed their home country to avoid taxes. Monaco does not collect income tax from its citizens and is considered a tax haven.
Only the top earners on the tennis circuit are able to double their wealth. Prize money on the tour forms a small part of their net worth, as they tend to earn more through endorsements. Tennis players also have to spend money out of their pockets while traveling to different parts of the world.
The Norwegian player has been leading the charge for his country in the sport. Ruud’s contribution while playing the tax game also helps in the development of the nation. He could have shifted to Monaco like his rivals but chose not to due to his affection for Norway. Ruud could have increased his net worth by an astronomical margin had he chosen to list Monaco as his official residence.
The former World No.2 has earned $17.6 million in terms of career prize money. Meanwhile, the Casper Ruud net worth is estimated to be around a mere $7.5 million according to multiple media reports. Casper Ruud has managed to earn more through his multiple endorsements. He has signed deals with Yonex, Salmar, Handelsbanken, Renault, Samsonite, W Initiative, Super Office, Vitamin Well, and Fleming.
Carlos Alcaraz sets an example off-court for rivals
Carlos Alcaraz is currently the youngest player among the top 30 on the ATP Tour. Alongside his records in the game, the young Spaniard has gained massive respect for his love for his country. Alcaraz is one of the few players on the tour to list his childhood home as his official residence and pay taxes in Spain.
The 20-year-old has amassed $28.7 million in his career so far. Alcaraz’s net worth is around $20 million. The World No.3 has mainly earned from endorsements.
He is presently under contract with Babolat, Nike, Rolex, ElPozo, BMW, Louis Vuitton, and Calvin Klein. But it could get tougher for Alcaraz to substantially increase his wealth on the Tour, as Spain has a strict taxation system. Maybe he could take a cue from Rafael Nadal and gradually start businesses and have other investments to become richer by the time he retires.
The taxation system has been one of the reasons why the top 12 players out of the 30 have mentioned Monaco as their official residence. The strategy cannot be questioned, as they need to protect their earnings. It is purely up to the players whether they want to contribute to their country by paying taxes.
