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Coco Gauff is a teenage multimillionaire. Here's how the tennis superstar makes and spends her money.

Coco Gauff poes with her trophy after winning the 2023 US Open.
Coco Gauff poses with her trophy after winning the 2023 US Open.Frey/TPN/Getty Images
  • Coco Gauff became a Grand Slam champion after winning the 2023 US Open.

  • The 19-year-old tennis phenom will add $3 million to her fortune from the victory in New York City.

  • Here's how the teenage superstar makes and spends her millions.

Coco Gauff is a multi-millionaire at just 19 years old.

The American tennis superstar won the first Grand Slam of her young career Saturday, beating newly minted world No. 1 Aryna Sabalenka 2-6, 6-3, 6-2 to secure the 2023 US Open women's singles title. In addition to collecting a shiny new trophy and an invitation into the exclusive club of Grand Slam champions, Gauff earned a whopping $3 million for the impressive feat.

The Delray Beach, Florida, native has amassed a considerable fortune in her teenage years. Here's how Gauff makes and spends her millions:

Coco Gauff is officially a Grand Slam champion — and $3 million richer for it.

Coco Gauff serves during the 2023 US Open.
Coco Gauff serves during the 2023 US Open.Geoff Burke-USA TODAY Sports

The 19-year-old tennis superstar beat Belarusian star Aryna Sabalenka — who, the week after the tournament, became the world No. 1 — in the 2023 US Open final 2-6, 6-3, 6-2 to win the first major championship of her career.

Gauff collected a $3 million check along with her shiny silver trophy on Saturday in New York City.

The teenage phenom makes most of her money off the court.

Coco Gauff sports gear from three of her sponsors.
Coco Gauff sports gear from three of her sponsors.Robert Deutsch-USA TODAY Sports

Like many other famous athletes, Gauff has made a majority of her fortune not from competitions themselves, but from the sponsors she's managed to attract thanks to her success on the court. Forbes reports that the young star has earned $12 million from endorsement deals and other business dealings in 2023, eclipsing her total on-court career earnings this year alone.

New Balance is among her biggest sponsors. Since 2018 — a year before Gauff catapulted into prominence upon defeating seven-time Grand Slam champion Venus Williams at Wimbledon — the Delray Beach, Florida, native has sported New Balance clothing and shoes during matches.

The young star's signature shoe, the New Balance Coco CG1, hit the market in 2022. With the drop, Gauff became one of the sole tennis players — and one of the only women's sports stars — to design a sneaker of her own.

Gauff also counts Barilla, Head, Baker Tilly, Bose, UPS, and Rolex among her sponsors, with many more sure to join the fold in the coming months.

Gauff is interested in investing some of her money into more ambitious business projects down the line.

Coco Gauff in a yellow dress.
Coco Gauff attends the WTA 50th Anniversary Gala in New York City.Clive Brunskill/Getty Images

Because Gauff has been in the spotlight for as long as she has, it's easy to forget she's still only 19 years old. As such, she hasn't "really found what I'm quite passionate in outside of tennis" just yet, though she says she does "want to venture out into other things" in the business realm.

"I just haven't found what really speaks to me," Gauff added.

She's thought about taking on a project in the world of beauty. Gauff has taken to sharing her outfit and jewelry choices — including a mix of local pieces, designer brands, and affordable garb — with fans in "get ready with me" videos posted to TikTok.

But she hasn't yet figured out how to translate that interest into a proper business opportunity.

"I mean, I really do love fashion," Gauff said. "I love makeup. I love that type of thing. I just haven't really thought about how I would build that into a brand, per se."

 

 

She's managed to save most of her money thus far in her career.

Coco Gauff of the United States reacts to a point against Madison Keys of the United States during their Women's Singles Third Round match on Day Five of the 2022 US Open at USTA Billie Jean King National Tennis Center on September 02, 2022 in the Flushing neighborhood of the Queens borough of New York City.
Coco Gauff.Getty/Elsa

Gauff doesn't have many expenses to worry about at this point in her life. She doesn't have any debt to pay off, she said on Instagram live the day after her 2023 US Open victory.

She added that she still lives at home with her parents in Delray Beach, Florida, and has no intention of moving out until she turns 21. At that point, she said she'll consider buying herself a house.

"I don't like to spend money," Gauff said on the Tennis.com podcast. "When I had my first Grand Slam check, I wanted a car but my dad had already bought it and, I don't know what to buy now."

Her father, Corey, bought a black Audi e-tron for his daughter to drive. But the 19-year-old has admitted that she doesn't "like driving at all" and has no need for another set of wheels anytime soon.

Even if she isn't necessarily driving the car, Gauff has been known to post TikTok videos from the driver's seat.

Gauff has struggled to think of something extravagant to buy with her US Open winnings.

Coco Gauff shakes hands with Billie Jean King.
Coco Gauff shakes hands with Billie Jean King after collecting her check for winning the 2023 US Open.Tim Clayton/Corbis via Getty Images

It's no surprise, then, that Gauff had no idea how to spend the $3 million she earned from winning the 2023 US Open.

"There's nothing crazy materialistic that I really want," Gauff said on an Instagram live. "I'm very satisfied with all that I have. I don't want anything crazy."

"I always said when I won my first Grand Slam I would do a crazy purchase," she added. "But I don't really have anything that I really want to buy, so..."

The one thing she could think of in the immediate aftermath of her biggest career achievement?

"A burger," Gauff said with a laugh. "That's all I want."

Later, the teenage star added that she'd like to take a proper vacation — one that does not include any tennis — at some point.

"I've never had a real vacation, to be honest," Gauff said. "Every time I've gone out of the country, it's never been a vacation. It's always been for work. So I've never had a real trip."

She also said she planned to reward her coaches for their hard work in helping her earn her her first Grand Slam trophy.

All signs suggest more success — in both sport and finance — is heading Gauff's way.

Coco Gauff.
Coco Gauff.Susan Mullane-USA TODAY Sports

Gauff has already achieved remarkable success, especially for someone who has yet to turn 20 years old. Still, more money and more trophies are all but certain to come her direction.

Like other tennis stars before her, Gauff is likely to see an influx of endorsement opportunities now that she's become a Grand Slam champion.

Take Emma Raducanu, the British star who, after rising from relative obscurity to win the US Open in 2021, welcomed a wave of new sponsors. Raducanu has made $15 million of the court in 2023, Forbes reports, even despite a quiet season on the court.

And though Gauff hesitates to compare herself to Serena Williams, the 23-time Grand Slam champion serves as an ideal role model on the financial front. Williams leveraged her one-of-a-kind talent to make hundreds of millions from her business dealings, and she's now considered one of the wealthiest self-made women in America.

Gauff has the potential to build a powerful legacy of her own, and she's already getting started.

Read the original article on Insider