What is Magnus Carlsen's Net Worth in 2024?

By Jayson Panganiban April 04, 2024 13:38

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Magnus Carlsen, the Norwegian chess grandmaster and reigning World Chess Champion, has garnered significant attention not only for his exceptional skills on the chessboard but also for his impressive net worth.

As of April 2024, his net worth is estimated to be approximately $50 million, making him one of the wealthiest chess players in history.

Early Life and Career Highlights

Magnus Carlsen's journey to becoming a chess prodigy began at a young age. In 2004, at the age of 13, he achieved the remarkable feat of becoming a Grandmaster, gaining international attention and earning the title "Mozart of chess" after his victory in the C group at the Corus chess tournament.

Notably, in 2013, Carlsen clinched the World Chess Championship, becoming the second-youngest world chess champion at the age of 22.

This victory solidified his position as a dominant force in the world of chess and propelled him to global stardom.

Financial Ventures and Entrepreneurship

In addition to his accomplishments in classical chess, Carlsen has ventured into the world of entrepreneurship.

He co-founded the company Play Magnus AS, which introduced the popular iOS app "Play Magnus." This app allows users to play against a chess engine designed using a database of Carlsen's past recorded games.

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Subsequently, other apps such as Magnus Trainer and Magnus Kingdom of Chess were released.

Carlsen's entrepreneurial endeavors have significantly contributed to his net worth. Notably, a substantial portion of his wealth is attributed to his equity stake in the publicly traded company Play Magnus, which merged with chess24.com to form one of the largest online chess companies in the world.

The company is currently valued at over $100 million, and Magnus owns 85% of Magnuschess, the holding company through which he holds his stake in Play Magnus.

Financial Impact of Chess Career

Magnus Carlsen's financial success is intricately tied to his unparalleled achievements in the world of chess. His record as a five-time World Chess Champion and his peak rating of 2882, the highest in history, have undoubtedly contributed to his substantial net worth.

Carlsen's influence extends beyond the chessboard, as he has also been named one of Time's most influential people in the world.

His launch of the popular chess app that allows players to face off against a composite AI of himself at different ages further demonstrates his impact on the chess community and the broader gaming industry.

Magnus Carlsen's net worth in 2024 stands as a testament to his extraordinary achievements as a chess player and his successful foray into entrepreneurship.

With a combination of strategic investments, entrepreneurial ventures, and a stellar career in professional chess, Carlsen has solidified his status as one of the most financially successful figures in the world of chess.