Chennai, India – In a rare display of talent and dogged determination, 18-year-old Indian chess prodigy Dommaraju Gukesh has become not only the world chess champion but has also won a staggering sum of ₹13.6 crore (approximately USD 1.58 million) in prize money by 2024.
The amount is also more than double what the President of the United States earns in a year, thus showing how successful he was on the international level in chess.
A Year of Unparalleled Success
The unprecedented steep rise into the stratosphere of chess happened for Gukesh after he won the Candidates Tournament earlier this year, in which he became, at 18, the youngest-ever winner. With this win, Gukesh was included in the World Chess Championship held in Singapore, in which he faced Ding Liren, the reigning champion.
In a series of matches, he defeated Ding Liren, thereby securing his place as champion and bagging a large share of the $2.5 million prize money.
Breakup of Earnings
As per the Chess.com report, Gukesh’s total prize amount in 2024 reached up to $1,577,842 (approximately ₽13.6 crore). This includes his winnings from eight major tournaments, including the World Chess Championship, where he got a big chunk of the prize pool.
Significantly, this amount does not include extra awards and accolades. The Tamil Nadu government has announced an incentive of ₹5 crore for Gukesh’s world championship victory, significantly increasing his total earnings. Furthermore, his schooling institute, Velammal Vidyalaya, bestowed on him a luxury Mercedes-Benz E-Class for his remarkable achievements.
For better understanding, the annual salary of a US president is around $400,000. The prize money bagged by Gukesh amounts to almost four times that amount, proving the banshee of elite-level Chess and Gukesh’s best performance.
Recognition and Honors
Apart from financial rewards, Gukesh has already earned considerable recognition. He is to receive the Khel Ratna Award, the highest sporting honour on Indian soil, for placing Indian chess and its international standing on the map due to his contributions towards them.
Effect of Indian Chess
Gukesh’s astonishing rise inspires this new generation of chess lovers in India. Following in the footsteps of former World Champion Viswanathan Anand, Gukesh has become a newfound banner for India’s growing prominence in the world of chess.
His continuous successes, in turn, scattered increased interest and investments in the game across the country.
Future Prospects
The world champion in 2024, Gukesh will take part in various international tournaments, which will bolster his reputation and possibly increase his income from prize money and endorsements.
His youthful energy along with shrewd strategies are poised for a bright future, breaking more records and setting new milestones in chess. Dommaraju Gukesh’s achievements in 2024 have brought him immense financial benefits, but he is also at the centre of international chess now.
His historic victories and the praise that followed are clear indicators of the vast talent coming forth from India and a bright future for India’s credentials in the global chess community.
