Magnus Carlsen Earns Millions from Chess

Magnus Carlsen has made a total of $12,232,249 from chess tournament prize winnings throughout his career to date. He became a world champion in 2013, days before his 23rd birthday.

How much has Magnus Carlsen made from chess?

Carlsen's chess winnings and earnings are managed by a private entity, Magnus Chess, which was established by him and his parents when he was 16 years old.

How did Magnus Carlsen become rich?

The bulk of Carlsen's fortune came largely from his business Play Magnus, which included an online chess playing site, books, training programs, tournaments and apps. In November 2021, the company was valued at $115 million.

Carlsen told The Guardian in 2020, “It’s really about trying to bring chess to more people. I don’t have any aspirations of being a chess mogul, I just want to [keep] playing: that is what I’m good at.”

How does Magnus Carlsen make money?

In addition to his chess tournament earnings and business ventures, Carlsen also earns money through sponsorships and endorsements, including Microsoft, investment bank Arctic Securities and media company VG.

He's also appeared in a Norwegian reality TV show and a 2017 episode of The Simpsons. In 2024, Carlsen co-founded Fantasy Chess, which had about $3 million in funding at the time.

Carlsen's pristine reputation at the board was challenged in September 2022, when 19-year-old Hans Niemann bested Carlsen at the Sinquefield Cup. Carlsen largely takes it in stride now, saying “I only know that when I sit down at the board, I am better than the other guy.”

Carlsen has made a significant amount of money from his chess career, with his net worth estimated to be around $25 million. He continues to be involved in the chess world, with various business ventures and sponsorships.

In 2024, Carlsen co-founded Freestyle Chess, a tournament circuit designed to be a bit more TV-friendly for beginners and with a unique format and point system to keep chess newbies engaged. It employs Fischer Random Chess, which utilizes 960 different starting positions.

Carlsen told the Wall Street Journal that the appeal of chess is what drives him to continue playing and promoting the game. With his successful career and business ventures, Magnus Carlsen remains one of the most prominent figures in the chess world.