It’s a fascinating time for women’s sports, and 2023 has certainly showcased that. While the roar of the crowd and the thrill of competition are what draw us in, there's a whole other layer of success unfolding off the court, field, and slope: the staggering earnings of the world's highest-paid female athletes. This year, the landscape has seen a significant shift, with a new face gracing the top spot, and tennis continuing its reign as the dominant force.
Stepping into the spotlight as the highest earner is Iga Świątek, the 22-year-old Polish tennis sensation. Her estimated $23.9 million in earnings for 2023, before taxes and agent fees, marks a new era. This is particularly noteworthy because, since Forbes began tracking these figures in 2008, only a select few—Maria Sharapova, Serena Williams, and Naomi Osaka—had previously held the number one position. Świątek's remarkable year, highlighted by a French Open title and four new endorsement deals, underscores the immense earning potential within professional tennis. It’s no coincidence that tennis players continue to dominate the list; the sport offers substantial prize money and a global platform for lucrative marketing opportunities.
Looking at the top 20 women athletes, tennis players make up a significant majority, with 12 athletes hailing from the sport, and nine of them cracking the top 10. This dominance isn't just about on-court success; it's about the robust ecosystem that supports these athletes, from major tournaments to global brand partnerships. Beyond tennis, golf and football each contribute two athletes to the top 20, with badminton, basketball, gymnastics, and freestyle skiing rounding out the list with one representative each.
Collectively, the top 20 women athletes earned an estimated $226 million in 2023. While this figure represents a dip from the $258 million earned in 2022, the decrease is largely attributed to the retirement of Serena Williams and the extended break taken by Naomi Osaka due to injury and childbirth. However, the underlying trends are overwhelmingly positive. The median income for these top athletes has risen to $8.5 million, up from $7.3 million last year. Furthermore, a record-tying eight athletes earned over $10 million, doubling the number from 2021. The youthfulness of the list is also striking, with 16 athletes aged 30 or younger, suggesting even greater earning potential in the years to come.
This surge in earnings reflects the broader momentum building in women's sports. We're seeing record attendance at leagues like the National Women's Soccer League and international football matches, expansion in the WNBA, and significant increases in prize money for the LPGA Tour. It’s an exciting time, with more brands recognizing the commercial value of sponsoring leagues and individual athletes, and women athletes gaining more mainstream media attention, as seen in Netflix's tennis documentary 'Break Point'.
Yet, the conversation around earnings wouldn't be complete without acknowledging the persistent gender pay gap. While women's tennis has historically shown a smaller disparity compared to other sports, and the WTA is committed to closing this gap, the reality is that female athletes still earn considerably less than their male counterparts. The top 20 male athletes, for instance, earned a staggering $1.9 billion in 2023, more than eight times the earnings of the top 20 women. Even within tennis, while Grand Slams offer equal prize money, many other tournaments do not. As WTA player Jessica Pegula, who ranks seventh on this list with $12.5 million, points out, "We always say the Grand Slams are equal, but there are only four Grand Slams in a year, and many other tournaments are not equal."
The root of this disparity often lies in the revenue generated by women's leagues. For example, the WNBA is aiming for over $100 million annually in its next media rights deal, a figure that pales in comparison to the NBA's multi-billion dollar deals. However, upcoming renegotiations for broadcast agreements for major women's events, including the NCAA basketball tournament and the FIFA Women's World Cup, present significant opportunities to translate growing excitement into meaningful revenue.
As the landscape continues to evolve, the stories of these incredible athletes are reaching wider audiences, inspiring a new generation and proving that talent, dedication, and marketability know no gender. The journey towards true parity is ongoing, but the progress made in 2023 is undeniable and incredibly promising.
