The landscape of women’s sports is experiencing a significant shift, with increasing momentum translating into substantial financial gains for female athletes. For the first time, eleven women have surpassed $10 million in earnings in a single year, a testament to the growing recognition and marketability of women’s athletic prowess. This surge is driven by a confluence of factors, including rising viewership, record-breaking performances, and expanding endorsement opportunities. Leading the charge is Coco Gauff, whose remarkable $34.4 million in earnings places her among the highest-earning female athletes of all time, trailing only Naomi Osaka and Serena Williams. This signifies not only Gauff’s individual success but also the broader trend of younger athletes achieving unprecedented financial success early in their careers.
The increasing financial success in women’s sports isn’t limited to individual sports like tennis. Caitlin Clark, the WNBA rookie sensation, matched Candace Parker’s record of $8.1 million in earnings, demonstrating the WNBA’s growing appeal and the rising value of its star players. Similarly, Jeeno Thitikul’s $4 million prize at the CME Group Tour Championship, the largest in women’s golf history, underscores the increasing financial stakes in women’s golf. Nelly Korda’s $12.5 million total income further solidifies golf’s contribution to this upward trend, marking the highest earnings for a female golfer in Forbes’ 17 years of tracking. The collective earnings of the top 20 highest-paid female athletes exceeded $258 million in 2024, surpassing previous years and reflecting a 15% increase from 2023.
Despite this progress, a significant pay gap persists between male and female athletes. The combined earnings of the top 20 female athletes represent less than 12% of their male counterparts, who earned a staggering $2.23 billion. This disparity is largely attributable to the difference in on-field earnings, with men benefiting from significantly higher salaries, bonuses, and prize money. The WNBA’s supermax salary, for instance, pales in comparison to even the average NBA salary, highlighting the systemic differences in league structures and revenue generation. While individual sports offer a somewhat more level playing field, discrepancies remain evident, particularly in prize money offered at smaller tournaments outside the major championships in tennis and golf.
The primary driver of this compensation gap is the revenue difference between men’s and women’s sports. Historically, women’s leagues have operated with smaller budgets, limiting their ability to offer competitive salaries and attract the same level of sponsorship as men’s leagues. However, there are encouraging signs of change. The WNBA’s new media rights deal, reportedly worth $200 million annually, represents a sixfold increase from its previous contract and signifies a major boost for the league’s financial stability. Similarly, the LPGA Tour has seen a substantial increase in prize money since 2021, reflecting growing investment and interest in women’s golf. The WTA Tour’s commitment to equal pay at combined 500- and 1000-level events by 2033 further reinforces the movement toward closing the gender pay gap in tennis.
The growth in women’s sports is also reflected in the diversification of the highest-paid female athletes. While tennis players continue to dominate the top ranks, this year’s list includes athletes from a wider range of sports, including golf, basketball, soccer, gymnastics, freestyle skiing, and badminton. This diversification demonstrates the growing popularity and marketability of various women’s sports, offering a broader platform for female athletes to achieve financial success. Moreover, the increasing number of women surpassing the $10 million earnings mark, coupled with the relatively young age of the top earners, suggests that the future of women’s sports is bright and poised for continued growth. The emergence of new women’s leagues in hockey, softball, and basketball further underscores this positive trajectory.
The stories of individual athletes highlighted in the Forbes ranking provide a human face to these broader trends. Coco Gauff’s meteoric rise, fueled by both on-court success and numerous endorsement deals, exemplifies the potential for young female athletes to achieve unparalleled financial success. Similarly, Iga Świątek’s continued dominance, despite facing challenges, underscores the growing global appeal and marketability of women’s tennis. Eileen Gu’s impressive endorsement portfolio showcases the potential for female athletes to transcend national boundaries and become global icons. These stories, along with the achievements of other athletes like Nelly Korda, Simone Biles, and Caitlin Clark, represent the evolving narrative of women’s sports, where talent, hard work, and increasing recognition are translating into significant financial rewards. The continued growth and diversification of women’s sports promises a future where female athletes have even greater opportunities to excel both on and off the field.
