Cori Gauff Net Worth: How Much Is Cori Worth?

Life, Family, Work

Cori Gauff is considered as a young tennis phenom after her rise to fame in 2019 when she beat Venus Williams in the 2019 Wimbledon Championship, making her the youngest tennis player to beat Venus in four consecutive sets and advanced in the last round to face former world’s number one female tennis player Simona Halep.

She is also known to be the youngest female player to appear in a Grand Slam championship in her debut season, the youngest female player to advance in the US Open Championship and the youngest player to ever win a Junior French Open.

She was born in Atlanta but her family moved to Florida when she was just six years old to support her tennis career. Since 2010, she has been training under at the New Generations Tennis Academy in Delray, Florida.

In 2011 she has been chosen to train in France under the Champ Seed Foundation by none other than the coach of Serena Williams, Patrick Mouratouglo. She officially began her career at age 13 when she qualified for the ITF Junior Circuit.

Through her newfound fame, she has been signed to endorse brands such as New Balance, Head, a tennis gear company and Barilla, an Italian food company. She has also been signed under Roger Federer’s agency, Team8.

There is no information regarding her personal life and dating timelines.

Money Sources

• Accumulated prize earnings since 2013 ($450,000)
• Multi-year brand endorsements (New Balance, Head and Barilla)
• Contract deal with Team8

Net worth from 2010-2019

• Net worth from 2010-2016 is not available since she only started competing professionally in 2017 when she was 13.
• 2017: $144,000 (prize earnings)
• 2018: $565,000 (prize earnings and deal with Barilla)
• 2019: $1M (prize earnings and multi-year deal with New Balance and Head)

What does Net Worth Mean?

What is a Net Worth?

It is a quantitative concept which measures the value of an entity. It is applicable ranging from an individual to companies, organizations, sectors and a country as a whole. To put it simply, it is the difference between assets and liabilities. A positive net worth means assets are greater than liabilities, whereas negative net worth mean liabilities are greater than assets.

Formula:

Net Worth = Assets – Liabilities

A little more into Net Worth Concept:

Net worth conveys the financial health of any entity. Asset is anything that is owned and has a monetary value to it while liabilities is a commitment that deplete resources. Assets can be liquid or which can turn into liquid ( example: bank check ). They are non-liquid when they take time to turn into cash (like for example Home). Whereas liability is an obligation that has to be repaid ( example: home loan, car loan etc.,)

Any financial institution or 3rd party look at your assets and liabilities to understand the financial position. Positive net worth or increasing asset base indicates good financial health while negative net worth or increasing liabilities means a bad financial health condition.

It is always a good habit for any entity to maintain a reduce liabilities and increase or maintain a balanced asset base.

What does a Net Worth Mean to a person?

In simple terms, it means the value that is left after subtracting liabilities from assets. Few Examples of liabilities include car loans, student loans, home loans, credit card bills, and other mortgages etc., whereas an individual’s assets are amount in the savings account, home, vehicle, bonds, stocks and other material that has value.

In other words, whatever is left after paying off all the personal debt from asset base is net worth. It is important to understand that value of net worth varies as per the market value of assets and current debt costs.

For example:

Consider a case of Ramu Johnson. His assets include a house valued at $350000, shares worth $150000 and a car worth $35000. His liabilities include a mortgage balance of
$150000 and an outstanding car loan $15000 to be paid.

Now Ramu Johnson’s Net Worth = ($350000+$150000+$35000) – ($150000+$15000)
= ($535000 ) – ($165000)
= $370000

Assuming Ramu Johnson’s financial position after five years as follows –
House value at $350000, Shares value at $180000, savings $ 40000 and car value $25000. While mortgage loan $120000, car loan $0 (paid off).

The Net worth after 5 years would = ($350000+$180000+$ 40000 + $25000 ) – ($120000)
= $595000 – $120000
= $475000

Here it is understood that, although the fact that the value of a house and car decrease, the net worth have increased to $475000. It is because a decline in house loan is less than the overall asset base and decrease in liabilities.

Note that, an individual’s net worth can be negative if his asset base is less than liabilities.

What does net worth mean for celebrities?

Most often celebrities fall under High Net worth Individuals. And what does HNWI mean?

People with considerable net worth as called as HNWI.

Independent Charted Accounts, wealth managers and investment counsellors stay close to them making them as prime markets.

As per Securities and Exchange Commission( SEC), investors more than 1Million are considered as accredited investors to invite them to invest in unrequested securities.

Is 401k part of net worth?

As per the definition, 401K is also a part of net worth if it is calculated in terms of assets and liabilities. But, in this case, 401K have no specifics as in, therefore it cannot be measured.

What is the average American net worth?

Like any entities net worth a countries net worth can be calculated as below. It is a sum of net worth of all individuals (citizens), companies and organizations reside in America, plus countries net worth. In America, this measure is referred to as financial position.

As on quarter 1 2014, America’s financial position =
Assets ( $269.6 trillion) – liabilities ($145.8 trillion ) = $123.8 trillion.

What is a good net worth by age?

What is the net worth of the top 1%, 5%, 10%?

As in America, wealth distribution is as follows
Richest 1% of the population owned 35% of the country’s total wealth
Richest 5% of the population owned 11% of the country’s total wealth
Richest 10% of the population owned 12% of the country’s total wealth

Success lessons from Coco Gauff

It pays to have people who will take the leap for you.

She did not become a child prodigy if not for the support of her parents who believed in her dream. Her parents left everything in Atlanta for her to train for professional tennis. It paid off early because of her talent and drive.

Dreams do not have deadlines.

As early as six, she already knew what she wanted to do in life. She was lucky to have the support of her family who moved to Florida from Atlanta for her. Beating Venus Williams and having Serena watch it and be congratulated by both of them proves that dreams come true early as she was quoted in an interview saying that the Williams’ sisters are the true reason on why she wanted to play tennis.

References:

• https://globintel.com/usa/cori-coco-gauff-bio-wiki-age/
• https://en.wikipedia.org/wiki/Cori_Gauff
• https://www.essentiallysports.com/tag/cori-gauff/
• https://heavy.com/money/2019/07/cori-coco-gauff-net-worth/