Tennis continues to dominate the world of women’s sports, with seven of the Top 10 earners on Forbes’ 2024 list of highest-paid female athletes coming from the WTA Tour. The influence of tennis stars in the financial landscape of women’s sports is clear, with even Venus Williams, who played just two tournaments this year, securing the ninth spot.
The financial evolution of women’s professional sports
For the first time ever, 11 women surpassed $10 million in earnings, marking a significant milestone in the financial growth of women’s sports. Leading the charge is 20-year-old Coco Gauff, whose estimated $34.4 million earnings make 2024 one of the most lucrative years ever recorded for a female athlete. This impressive total places her just behind Naomi Osaka and Serena Williams on the all-time earnings list. Osaka peaked at $57.3 million in 2021, while Williams reached $45.9 million the same year.
Overall, the 20 highest-paid female athletes collectively earned over $258 million in 2024, a 15% increase from 2023. This growth is a promising indicator of the rising financial viability of women’s professional sports, even as the women’s total earnings still pale in comparison to the $2.23 billion raked in by the Top 20 male athletes on Forbes’ list. Notably, no women appeared in the Top 50 of the overall highest-paid athletes ranking.
Despite the impressive growth, a stark difference remains in how men and women earn their fortunes in sports. Only four of the Top 20 women earned more on the field than off it, with their collective on-field earnings of $68 million accounting for just 26% of their total income. This is almost the reverse of the Top 20 male athletes, who derived 72% of their $2.23 billion from on-field performance. Unsurprisingly, tennis players contributed the lion’s share of the women’s on-field earnings.
Top 10 women’s tennis performers and their stories
1. Coco Gauff – $34.4 million ($9.4 million on-field, $25 million off-field)
Gauff’s phenomenal year saw her earn $9.4 million on the court, including $4.8 million for winning the season-ending tournament in Riyadh. Off the court, she added $25 million through sponsorships with brands like New Balance, Carol’s Daughter, and Naked Juice, securing her position as the highest-paid female athlete of 2024.
2. Iga Swiatek – $23.8 million ($8.8 million on-field, $15 million off-field)
In 2024, Iga Swiatek faced a challenging year marked by a doping scandal late in the season, which ultimately cost her the No. 1 ranking. Despite the setback, Swiątek’s earnings remained strong, finishing just $100,000 shy of her 2023 total of $23.9 million. Off the court, she expanded her impressive sponsor portfolio, adding major brands like Lancôme and Lego to her endorsement deals.
4. Zheng Qinwen – $20.6 million ($5.6 million on-field, $15 million off-field)
Zheng Qinwen’s year was defined by her Olympic gold medal triumph in Paris, a victory that cemented her status as a superstar in her home country of China. Her remarkable success attracted high-profile endorsements from prominent brands, including Audi, milk tea chain Chagee, Lancôme, and smartphone manufacturer Vivo, further elevating her profile as a sought-after ambassador.
5. Aryna Sabalenka – $18.7 million ($9.7 million on-field, $9 million off-field)
The world No. 1 Sabalenka, who won the Australian Open and US Open, leads all players with $9.7 million in prize money, surpassing Gauff’s $9.4 million. The WTA Player of the Year 2024 added another $9 million off the court through endorsements with Audemars Piguet, Master & Dynamic headphones and Oakberry.
6. Naomi Osaka and Emma Raducanu – $12.9 million ($0.9 million on-field, $12 million off-field)
Naomi Osaka and Emma Raducanu tie for the sixth spot on the list, with their earnings predominantly driven by endorsements. For both players, only 7% of their $12.9 million income came from on-court performance, while a remarkable 93% was generated off the field through lucrative sponsorship deals.
Their financial success underscores their significant global influence and marketability beyond the tennis court.
9. Venus Williams – $12.1 million ($0.1 million on-field, $12 million off-field)
Despite competing in only two matches in 2024—both losses—Venus Williams remains a financial powerhouse. Her ventures, including the AI-powered interior design platform Palazzo, speaking engagements, and brand collaborations, solidify her place on the list.
Diversifying the rankings
A promising sign for the growing financial viability of women’s professional sports is the increasing diversity in this year’s list of highest-paid female athletes, even as tennis continues to dominate. The 2024 ranking features athletes from a wider range of disciplines, including three golfers, two basketball players, a soccer player, a gymnast, a freestyle skier, and a badminton player. Notably, among the Top 10, freestyle skier Eileen Gu secured the third spot, golfer Nelly Korda ranked eighth, and gymnast Simone Biles placed tenth.
Beyond the Top 10
Beyond the Top 10, several more WTA players make notable appearances on the list. Jessica Pegula ranks 11th with $10.2 million, comprised of $4.2 million from on-court earnings and $6 million from endorsements. Jasmine Paolini, at 14th, earned $8 million, with the majority ($6.5 million) coming from on-field performance and $1.5 million from off-field ventures. Elena Rybakina follows in 15th place with $7.9 million, evenly split between $3.9 million on-field and $4 million off-field. Meanwhile, Leylah Fernandez ranks 18th, earning $6.5 million, with $1.5 million from prize money and $5 million through sponsorships and endorsements.
The Path Ahead
Although female athletes still earn significantly less than their male counterparts, the growth in total earnings and the increasing diversification of the rankings point to a brighter future. Tennis players remain trailblazers, but other sports are making their mark, promising a more balanced financial landscape in years to come.
