Before making millions of dollars from tennis, she and her family had almost nothing.
At age 6, Maria Sharapova and her father moved from Russia to the United States to pursue a tennis career with just $700. While Sharapova practiced daily at a Florida academy, her father worked low-wage jobs to pay for rent, groceries, and school. They slept on the sofa in a small apartment owned by a middle-aged Russian woman.
In her book Unstoppable, Sharapova said: “We pay $250 a month to use the kitchen, bathroom, living room, watch TV. TV is very important. It helped me learn English.”
The sacrifice paid off. Ten years after moving to the US, at the age of 17, Sharapova won Wimbledon in 2004. She received a prize of £560,500. To date, the 32-year-old has earned more than $38 million in prize money throughout her career and has been the world’s highest-paid female athlete for 11 consecutive years.
She told CNBC that growing up without money had a big impact on how she spends her money. Despite her success on the court, she still plans as if her tennis career could end the next day. That’s part of the reason she launched her candy line, Sugarpova, in 2012. “When you’re young and successful and everything’s going well and going your way, it’s easy to think it’s going to last for years,” Sharapova said. “But be realistic about what can happen, like injuries, people leaving the company, or other competitors coming in.”
She also realized that “money doesn’t ultimately bring you happiness like people think it does. Sure, it can help you buy more material things. But they’re only temporary.”
On CNBC, Sharapova shared about how she makes and spends her money.
– What is your first memory related to money?
When my mother gave me a stuffed rabbit for New Year’s and told me not to tell my father, because it cost much more than he wanted to spend on gifts.
– Who taught you about money?
Probably my parents. They have been a huge influence on every decision I have made since I was very young. I think that is a wonderful thing.
– How much was your first allowance?
Probably no more than $5 or $6 a week.
– What was your first job?
Tennis player.
– What kind of car was your first car and how much did it cost?
I didn’t have a car until I got my first car deal. But my family’s first car was a pretty old Honda. I still remember pressing the window control button and being like, “This is cool. I’ve never seen anything like this before.”
– What will you not pay for?
I don’t like yachts. Many people, when they have money, want to spend it on yachts in the summer. I’d rather stay on land.
– What is the cheapest thing that makes you happy?
Laughter, hugs. They’re all free.
– What about money?
It’s just temporary.
