How does former world tennis number one Maria Sharapova make $20 million per year from candy and chocolate?
The Russian Grand Slam winner’s success on the tennis court has been matched by that in the business world with Sugarpova.
Maria Sharapova will go down in history as one of the defining tennis players of her generation thanks to the on-court success she enjoyed in the 2000s in particular. The Russian won a total of five Grand Slams (2 x French Open, 1 x US Open, 1 x Wimbledon, 1 x Australian Open) before retiring in 2020 at the age of 32.
Since then, family and business have been her two main areas of focus. And, as it turns out, she is an exceptional businesswoman as well as tennis player, as has been proved by Sugarpova, the company she founded in 2012.
What is Sugarpova’s net worth?
Having been the face of the likes of Nike, Porsche and Tag Heuer during her playing days, she now heads up her own confectionary brand. After initially investing £400,000 (nearly $500,000), Sugarpova is now valued at over £150 million (over $187 million), reported British newspaper The Sun.
The former world number one, once one of the leading lights on the court, now plays a similar role in the business world after opening her first candy store in 2013. Not that it’s all been plain sailing, with criticism coming her and her business’ way for marketing sugary candy - much of which is tennis-themed - to young people.
How much does Sugarpova make per year?
Nevertheless, Sugarpova has continued to go from strength to strength, with Sharapova playing a hands-on role as the sole owner. The brand, which sells sweets and chocolates in 22 different countries, currently makes around £16 million (a little under $20 million) each year.
The Russian’s huge success off the court led to her joining the National Association of Women Business Owners (NAWBO) in 2018, with whom she advises and represents current and future female entrepreneurs.