Rameshbabu Praggnanandhaa, the young Indian chess prodigy, has taken the chess world by storm with his exceptional talent and brilliant performances.
In 2024, Praggnanandhaa’s net worth is an intriguing topic for many, as the chess grandmaster continues to make headlines with his outstanding achievements on the global stage.
Praggnanandhaa’s rapid rise in the sport has not only solidified his reputation as one of his generation’s most promising chess players but also opened doors to numerous lucrative opportunities and endorsements.
In this blog post, we explore Praggnanandhaa’s net worth in 2024, examining his sources of income, major accomplishments, and the factors contributing to his financial success.
Join us as we delve into the journey of this exceptional chess player and analyze how his impressive career is shaping his wealth.
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What is Praggnanandhaa’s Net Worth in 2024?
Rameshbabu Praggnanandhaa, a name that’s quickly becoming synonymous with chess mastery, has an impressive net worth estimated at $1 million in 2024.
That converts to a hefty INR 8.23 crore in Indian rupees. So, how does a young chess prodigy amass such a substantial sum? Let’s dive into his sources of income and future projections.
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Tournament Prize Money
Praggnanandhaa’s primary source of income comes from his impressive performances in chess tournaments worldwide. As his chess career skyrocketed, he’s been racking up prize money left and right. With each tournament he conquers, his earnings grow, providing a steady influx of cash.
Sponsorships and Endorsements
Praggnanandhaa has attracted significant attention from sponsors and endorsers as a rising star in chess. Companies looking to associate themselves with his talent and promise have started lining up to secure partnerships. These sponsorships and endorsements add a substantial boost to his income.
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The Road Ahead
With his career only in its early stages, Praggnanandhaa’s net worth is expected to see significant growth in the years to come. As he continues to excel in his field and secure more high-profile victories, his earnings from tournaments, sponsorships, and endorsements will likely rise in tandem. Keep an eye on this young talent, as he’s bound to become one of the biggest names in chess history.
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Rameshbabu Praggnanandhaa’s Bio
Praggnanandhaa was born on August 10, 2005, in Padi, a suburban area of Chennai, Tamil Nadu.
His father, Ramesh Babu, works for the Tamil Nadu State Corporation Bank, while his mother is a homemaker.
His mother has been a constant support, always by his side during various tournaments and matches.
In the family, he has an older sister, Vaishali Rameshbabu, who is a notable figure in Indian chess. She holds the title of a 2-time Youth Chess Champion and Grandmaster.
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It was watching his sister play chess that initially got Praggnanandhaa interested in the game at a young age.
For his education, Praggnanandhaa attended Velammal Matriculation High Secondary School in Chennai for his high school studies.
Although he does well academically, his main focus remains on chess, as his father has confirmed.
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| Aspects | Information |
|---|---|
| Name | Rameshbabu Praggnanandhaa |
| Real Name | Rameshbabu Praggnanandhaa |
| Profession | Chess Grandmaster |
| Date of Birth | August 10, 2003 |
| Place of Birth | Chennai, India |
| Age | 20 |
| Nationality | Indian |
| Net Worth in USD | Estimated $1 million (2024) |
| Net Worth in Rupees | Rs. 8.23 Crore |
| Monthly Income | Estimated $50,000 |
| Yearly Income | Estimated $600,000 |
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Rameshbabu Praggnanandhaa Career
Early Beginnings and Championships
Praggnanandhaa started his chess journey at the age of 5, showing remarkable talent early on. He won the World Youth Chess Championship Under-8 title in 2013 and followed it with victories in the Under-10 category and the European Youth Chess Championship Under-10 title in 2015.
Youngest International Master
He made history by becoming the youngest International Master at 10 years, 10 months, and 19 days old. At 12 years, 10 months, and 13 days, he achieved the Grandmaster title, ranking as the fifth youngest in the world and the second youngest in India.
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World Youth Champion and High Ratings
His journey continued with a win at the World Youth Championships in the Under-18 division on October 12, 2019. By December 2019, he became the second-youngest player to reach a 2600 rating, doing so at 14 years, 3 months, and 24 days.
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Chess World Cup 2021 and International Victories
Praggnanandhaa advanced to the fourth round of the Chess World Cup 2021 and played a key role in India’s bronze medal win at the 2022 FIDE Olympiad. He claimed victories in the Tata Steel Chess India Open in 2022 and the Isle of Man International Chess Tournament in 2023.
Victories Against Magnus Carlsen
On February 20, 2022, he defeated World Champion Magnus Carlsen in the Airthings Masters rapid tournament. He repeated this feat at the Chessable Masters in May 2022, reaching the finals. He beat Carlsen a third time at the FTX Crypto Cup 2022, finishing in second place.
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Chess World Cup 2023 Finalist
Praggnanandhaa made history as the youngest player to reach the Chess World Cup final in 2023. Despite his loss to Magnus Carlsen in the rapid tie-breaks, he secured a runner-up position and a spot in the 2024 Candidates Tournament. This made him only the second Indian, after Viswanathan Anand, to reach the final in Chess World Cup history.
Rameshbabu Praggnanandhaa’s Net Worth, Income and Salary
Rameshbabu Praggnanandhaa’s net worth stands at around $1 million (approximately Rs. 8.26 crores), a testament to his successful chess career.
His income comes from tournament winnings, appearance fees, endorsements, and sponsorships. His victories in the 2022 Julius Baer Challenger Championship and the FIDE World Cup 2023 brought him significant prize money.
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Praggnanandhaa receives financial backing from companies such as Play Magnus and Ramco. Although he currently doesn’t own property, he lives in his ancestral house in Chennai with his family. His wealth is expected to increase as his career progresses.
Praggnanandhaa’s Achievements
- Rating and Global Rank: Before the 2023 FIDE World Cup, Praggnanandhaa had a rating of 2707, placing him 29th globally. After his recent successes, he climbed to 20th place in the FIDE rankings with an ELO rating of 2727.2.
- Prestigious Achievement: Praggnanandhaa follows Viswanathan Anand’s legacy as the second Indian player to surpass the 2700 ELO rating mark. He is currently the highest-rated chess player from India.
- Arjuna Award: In December 2022, the Indian government honored him with the Arjuna Award, recognizing his outstanding achievements in chess. This makes him the third-youngest recipient of the award in the country’s history.
- Promising Future: Praggnanandhaa’s rise in the world of chess is impressive at his young age. His successes indicate a promising future with further growth in his net worth and prosperity.
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Conclusion
In conclusion, Rameshbabu Praggnanandhaa’s net worth of approximately $1 million (around Rs. 8.23 crores) in 2024 is a reflection of his exceptional skill and success in the world of chess. His income is derived from his outstanding performances in international chess tournaments, sponsorships, and endorsements. Praggnanandhaa’s rise as a chess prodigy is not only earning him recognition and accolades but also significant financial success. As he continues to excel in his career, his net worth and prosperity are poised for further growth. His trajectory suggests that he is set to become one of the greatest chess players in history while amassing a considerable fortune along the way.
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FAQ’s
Q: What rank is Praggnanandhaa in chess?
A:
| FIDE rating | 2747 (April 2024) |
| Peak rating | 2747 (February 2024) |
| Ranking | No. 14 (April 2024) |
| Peak ranking | No. 13 (December 2023) |
Q: Who is the 18-year-old Indian chess player?
A: Praggnanandhaa, an 18-year-old Indian chess player, achieved a major victory by defeating world champion Ding Liren in the Tata Steel Chess Tournament. This win made him the highest-rated Indian player, surpassing Viswanathan Anand.
Q: Who is the No 1 player in chess in India?
A: Rameshbabu Praggnanandhaa, a promising 18-year-old chess sensation, captured the spotlight by defeating World Chess Champion Ding Liren during the 2024 Tata Steel Chess tournament. This impressive victory not only showcased Praggnanandhaa’s exceptional skill but also positioned him as the leading chess player in India.