What is Magnus Carlsen's Net Worth and Salary?
Magnus Carlsen, a Norwegian chess grandmaster, boasts a net worth of $25 million. Known for his unparalleled achievements in chess, Carlsen is a five-time World Chess Champion and holds the record for the highest peak rating of 2882. His playing style combines positional mastery with exceptional endgame skill.
Play Magnus Wealth
Carlsen is also a successful entrepreneur. He co-founded Play Magnus AS alongside Anders Brandt and Espen Adgestein. The company's initial product, an iOS app called Play Magnus, allows users to play against a chess engine based on Carlsen's recorded games. Other apps such as Magnus Trainer and Magnus Kingdom of Chess followed. In 2019, Carlsen founded the Offerspill Chess Club in Norway, where he serves as chairman.
A significant portion of Carlsen's wealth stems from his equity stake in Play Magnus, which merged with chess24.com in 2019 to become one of the largest online chess platforms. Magnus owns his stake through his holding company, Magnuschess, which holds 9.4% of Play Magnus. At various market cap valuations, his equity has been worth between $10-20 million.
In 2022, Chess.com acquired Play Magnus Group, appointing Carlsen as a brand ambassador. He also earns around $2 million annually from sponsorships and several million more from tournament prize money.
Early Life and Chess Breakthroughs
Born on November 30, 1990, in Tønsberg, Norway, Magnus Carlsen was raised by chemical engineer Sigrun and IT consultant Henrik. Having spent parts of his childhood in Finland and Belgium, he returned to Norway in the late 90s. Carlsen displayed intellectual prowess from an early age, solving a 50-piece jigsaw puzzle at two and assembling advanced Lego sets at four. He learned to play chess at five and participated in his first tournament at eight.
Carlsen attended the Norwegian College of Elite Sport and trained under Grandmaster Simen Agdestein. From 2000 to 2002, he participated in nearly 300 rated tournament games, achieving sixth place in the European Under-12 Championship and tying for first in the World Under-12 Championship.
Ascension in the World Chess Ranks, 2004-2012
At 13, Carlsen captured attention by winning his group at the 2004 Corus chess tournament in the Netherlands, earning his first GM norm. He achieved his second GM norm at the Moscow Aeroflot Open and his third at the Dubai Open. By 2009, after winning the London Chess Classic, Carlsen became No. 1 on the FIDE rating list.
Continuing his breakthrough, Carlsen won the Corus chess tournament, Bazna Kings tournament, Biel Grandmaster tournament, and Tal Memorial by 2011. By 2012, he won the Grand Slam Chess Final, again topping the London Chess Classic and surpassing Garry Kasparov's rating with a new high of 2861.
World Champion
In 2013, Carlsen dethroned Viswanathan Anand to become the World Chess Champion. The following year, he won the FIDE World Rapid Championship and World Blitz Championship, defending his World Champion title against Anand again. In subsequent years, Carlsen maintained his dominance, winning numerous prestigious tournaments and defending his World Champion title multiple times, including against Fabiano Caruana in 2018 and Ian Nepomniachtchi in 2021.
In 2023, Carlsen declined to defend his title again but triumphed in the Chess World Cup against Rameshbabu Praggnanandhaa.
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Playing Style
Initially aggressive in his youth, Carlsen adopted a more balanced style as he matured. His gameplay is often likened to that of former champions like Vasily Smyslov and Anatoly Karpov. Carlsen's positions are lauded for their impeccable form, complemented by his composure, physical fitness, and endgame mastery.
Endorsements
Carlsen's chess fame has landed him numerous endorsements. He modeled for the Dutch designer brand G-Star RAW in 2010 and 2014 and has served as an ambassador for Nordic Semiconductor and Unibet.
Niemann Controversy
In late 2022, Carlsen faced Hans Niemann at the Sinquefield Cup, where the latter unexpectedly defeated him. A rematch saw Carlsen resign after one move, accusing Niemann of cheating. Niemann later filed a libel and slander lawsuit, which was dismissed by a Missouri federal court in June 2023.
