Magnus Carlsen won his fifth world title in 2021
Magnus Carlsen AFP

Magnus Carlsen is one of the most successful and recognizable figures in the chess world. Carlsen's net worth reflects both his exceptional talent on the board and his strategic ventures off it. His demographic appeal and charismatic personality have, undoubtedly, greatly contributed to Magnus Carlsen's net worth.

The world no. 1 recently defeated Richard Rapport to win the seventh edition of the Grenke Chess Classic, after winning two world championships in December, confirming his position as the most outstanding player of his time.

His dedication to the game, coupled with his business acumen, has not only elevated him to the upper echelons of chess but also secured his position as one of the wealthiest figures in the sport. Carlsen also boasts the longest unbeaten streak in classical chess, spanning an impressive 125 games.

Magnus Carlsen has an estimated net worth of $25 million

In 2024, Magnus Carlsen's net worth is estimated to be $25 million.

Though Carlsen's last World Chess Championship victory was in 2021, his triumphs in events like the Champions Chess Tour, Norway Chess, and the World Rapid and Blitz Championships (WRBC) have ensured a steady stream of prize money. A 2023 report by Chess.com revealed he raked in an impressive $560,000 from just seven major tournaments in 2022. He claimed a prize money of USD 110,000 when he won the 2023 FIDE World Cup, making him one of the highest-earning chess players in terms of prize money.

Carlsen, co-founded Play Magnus, the iOS app Play Magnus, allowing users to play against a chess engine built on Carlsen's game database. Subsequently, other apps like Magnus Trainer and Magnus Kingdom of Chess were launched. Play Magnus merged with chess24.com, in 2019, to form one of the largest online chess companies in the world.

A major chunk of Carlsen's earning is from Play Magnus, which is worth over $100 million. Carlsen owns most of Play Magnus through his holding company, and depending on the company's value, his share is worth somewhere between $10 and $20 million. In 2022, the popular chess website Chess.com bought Play Magnus Group. As part of the deal, Carlsen became the website's official brand ambassador.

Carlsen initiated the Offerspill Chess Club in Norway, where he serves as chairman.

A report by Forbes in 2021 claimed Carlsen is also the highest-earning e-sports player globally in 2020, with an annual income of $510,587.

In February 2024, Carlsen won the Champions Chess Tour Chessable Masters competition, earning a $30,000 prize. He also organized and competed in the Freestyle Chess G.O.A.T. Challenge, a Fischer random chess tournament featuring top players. He defeated Fabiano Caruana in the final and claiming a $60,000 prize.

The Carlsen age

Carlsen was born on Nov. 30, 1990, in Tønsberg, Norway, to Sigrun, a chemical engineer, and Henrik, an IT consultant. His father, an amateur chess player, recognizing his son's intellectual prowess introduced him to the game, at the age of five.

Carlsen entered his inaugural Norwegian Chess Championship tournament at the age of 8.

American player Lubomir Kavalek called Carlsen the "Mozart of chess" when he won the first tournament victory in 2004. The same year, Carlsen was named Grandmaster when he finished second at the Dubai Open Chess Championship. He was 13. Thus began the Carlsen era.

By 15, Carlsen was already a champion in Norway and the youngest ever to qualify for the Candidates Tournament. Two years later, he was sharing top honors with the best players in the world. By 18, he surpassed a super-elite chess rating of 2800) youngest to achieve this milestone at the time. He capped off this meteoric rise by becoming the youngest player to be ranked No. 1 in FIDE world rankings, at just 19.

Carlsen won his first FIDE World Championship in 2013, defeating the then-reigning champion Viswanathan Anand in a 12-game match.

After successfully defending his World Championship title, Carlsen went on a tear. In 2014, he became the first ever player to hold all three major chess titles - World Champion, Rapid Champion, and Blitz Champion - simultaneously. He repeated the historic feat later in 2019 and 2022.

In 2023, Carlsen secured his first Chess World Cup championship by defeating India's Rameshbabu Praggnanandhaa.

Carlsen won titles of World Champion for five times, World Rapid Chess Champion for five times, World Blitz Chess Champion for seven times, and Chess World Cup Champion. Since 2011, he's been unstoppable at No. 1 in the rankings, holding the record for the longest reign ever. And to top it all off, his peak rating of 2882 is the highest ever achieved.

Magnus Carlsen confirmed in 2022 that he did not want to defend his title
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Brand Carlsen

The chess champion joined forces with German sportswear brand Puma in a long-term partnership launched in 2022. Following year, Puma released a special chess-inspired Clyde sneaker. Carlsen is global brand ambassador for Mastercard since 2021.

Estimates suggest that Carlsen rakes in around $2 million annually from endorsements. He has endorsed Dutch designer clothing company G-Star RAW and been an ambassador for Nordic Semiconductor and the sports betting company Unibet.

The Norwegian, boasting an impressive collection of 17 world titles across various formats, has shown a growing preference for shorter variations of the game.

In 2022, Carlsen openly declared his decision to abstain from future World Championships.

"I feel I don't have a lot to gain, I don't particularly like [the championship matches], and although I'm sure a match would be interesting for historical reasons and all of that, I don't have any inclination to play and I will simply not play the match," he remarked during the debut episode of his podcast, the Magnus Effect.

As the 33-year-old continues to leave an indelible mark on the world of chess, Magnus Carlsen's net worth serves as a testament to his extraordinary talent, strategic prowess, and enduring legacy in the world of chess.