Grandmaster Fabiano Caruana is the greatest US chess player since Bobby Fischer. Of that, there can now be no doubt. But how much is Fabiano Caruana net worth?
American’s new chess superstar was seriously in the money after his world title match in London against current king of chess Magnus Carlsen – even though he didn’t win.
At the 2018 World Championship in London, the 26-year-old pulled in 450,000 euros ($511,400) for winning the silver medal. His opponent got 550,000 euros ($625,100).
The total $1.14 million prize pot was and was split 55% for the winner, 45% for the loser. However, both players picked up an extra 5% because the match went to tie-breaks.
The minimum guaranteed prize fund will also have been increased by proceeds from sponsorship contracts. Plus both players also split 20 per cent of digital Pay-Per-View tickets – the exact amount of which is not known.
Unlike other chess stars like his fellow American Hikaru Nakamura, Caruana is not known for having other business interests.
Fabiano Caruana’s net worth boost
Nakamura enjoys speculating on the crypto-currency markets and plays a lot of high-stakes poker. But Caruana focuses entirely on his chess.
Caruana’s team have just launched a range of Caruana merchandise for his fans, however.
He also comes from a relatively wealthy background having grown up in leafy Park Slope in Brooklyn. His parents then spent around $60,000 a year on his chess education as they moved to Europe to get him the best training available.
It was worth it. Caruana now has an impressive number of tournament wins under his belt and is number two in the world rankings.
Prize money rolling in
Just to give you an idea of the amount of cash he picks up from the tournaments, here are a few examples.
Hip-hop fan Caruana, 26, won $95,000 for winning the Candidates tournament in Berlin in early 2018 which qualified him as challenger for the World Chess Championship in November.
Caruana also won $100,000 in September 2014 by winning the 2014 Sinquefield Cup — the strongest chess tournament in human history.
He won $62,500 by finishing first at the London Chess Classic in 2017 and that win also helped him claim $95,000 for his placing in the Grand Chess Tour.
Caruana, who has relocated to St Louis, Missouri, is also supported by the multi-millionaire Rex Sinquefield, founder of the city’s chess club. However, to what extent is not known.
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