The top spot on this year’s list of the world’s highest-paid athletes belongs to Formula 1 driver Lewis Hamilton, who earned an estimated $81.1 million in the past year. Hamilton’s income comes from a combination of his on-field earnings, which include prize money and salaries, as well as his off-field earnings from sponsorship deals and other sources. Other athletes who made the list include NFL quarterback Patrick Mahomes, NBA star Kevin Durant, and soccer players Cristiano Ronaldo and Lionel Messi.
Forbes tracks the income earned by athletes between May 1, 2023, and May 1, 2024, consulting industry insiders as well as news reports and salary databases. The figures are converted to U.S. dollars using the current exchange rate. On-field earnings include a variety of sources, such as salaries, bonuses, and image rights agreements. Playoff bonuses are also included for certain sports leagues, and athletes are not credited for salary they forfeit during suspensions. Off-field earnings include sponsorship deals, appearance fees, and income from businesses in which the athlete has a significant interest.
The list also takes into account bonuses from the PGA Tour, as well as payments from new ventures like the LIV Golf league. Forbes estimates that top-tier LIV players received half of their guarantees upfront, with lower-tier players receiving smaller sums in bulk. Any remaining signing money is paid in equal annual installments across four-year contracts. Off-field earnings are rounded to the nearest half-million dollars, except when under $1 million. Forbes does not include investment income but does account for payouts from equity stakes athletes have sold.
Forbes does not deduct taxes or agents’ fees from the athletes’ earnings on the list. The rankings include athletes who were active at any point during the 12-month period being examined. The list provides insight into the earning power of top athletes across a variety of sports, highlighting the lucrative sponsorship deals and other income streams that contribute to their high earnings. The list also sheds light on the financial impact of new ventures like the LIV Golf league on players’ earnings, showing how athletes can diversify their income sources to maximize their overall earnings.
