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Coco Gauff, who ranks among the highest-paid tennis players, earned more than $2.9 million after winning the French Open over Aryna Sabalenka, though her prize money will be cut nearly in half after paying required taxes, tax analysts tell Forbes.
Gauff and Carlos Alcaraz will pay more than $2.6 million in combined taxes after winning their ... More
Gauff was awarded €2.55 million (about $2.95 million) after defeating Sabalenka on June 7, which would subject Gauff to a 45% tax bracket in France, the highest in the country set for any net income over €180,648, Sean Packard, OFS Wealth’s tax director, told Forbes.
A 45% tax would reduce Gauff’s winnings by about $1.32 million to just over $1.6 million, though it’s possible she could pay additional taxes, including self-employment levies or an additional Medicare surtax, Packard said.
Gauff, who is subject to taxes in the U.S., would also receive a tax credit to avoid being taxed twice on her winnings because of the rate she paid in France, Packard noted.
Alcaraz, who rallied to defeat Jannik Sinner in the French Open final on Sunday, was similarly awarded about $2.95 million. Alcaraz would pay the same 45% rate in France while facing Spain’s highest income tax rate of 47%, Packard said, though Alcaraz would also receive a tax credit for paying France’s levies, meaning Alcaraz would pay a combined income tax of at least 47%. This would reduce his winnings by about $1.38 million to just under $1.6 million. Spain also implements a wealth tax for the country’s wealthiest residents, though it’s unclear what additional rate Alcaraz would pay.
$65.2 million. That’s the combined prize-money pool for the French Open, an increase of 6.3% over the previous year, according to the ATP Tour.
Gauff, who ranks behind Sabalenka as the top-ranked women’s tennis players, tallied her second Grand Slam victory at the French Open. She won the U.S. Open in 2023, though she has captured other titles in recent years, including the 2024 WTA Finals and the 2024 French Open’s doubles tournament. Gauff, 21, also served as one of Team USA’s flag-bearers alongside LeBron James at the Paris Olympics. Forbes ranked Gauff as the third-highest-paid tennis player in 2024, after she earned $7.1 million from her on-court winnings and $20 million from endorsements and other deals. Alcaraz ranked as the highest-paid tennis player, with $10.3 million from on-court earnings and $32 million off the court.