Coco Gauff was asked if she’ll use her $3 million US Open winnings to pay off debt. Here’s what she said.
“‘I’m 19. … I live with my parents still, so I’m not in debt. I didn’t go to college, so I don’t have any student bills to pay.’”
That was newly minted US Open champion Coco Gauff on an Instagram Live stream this week talking about what she plans to do with her tournament winnings.
The 19-year-old Gauff was asked by a fan what she’ll do with her $3 million in winnings, and whether she’ll be using it to pay off any student loans or other debts.
In response, she laughed, replying: “I’m too young. My parents never put me in that position to be in debt, so I have nothing to pay right now.”
At the end of 2022, the Federal Reserve stated that about 43.5 million Americans have some student-loan debt, totaling some $1.7 trillion.
What’s more, an increasing number of millennials and Generation Z members have opted to live with their parents in recent years as the cost of rental housing and home purchases have skyrocketed — Gauff is likely saving lots of money by living at home.
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The Atlanta-born Gauff, with her tournament-final comeback win over Aryna Sabalenka of Belarus, made history as the first American teenager to win the US Open, in Queens, N.Y., since Serena Williams did so in 1999.
With her $3 million US Open prize, Gauff has now earned $11.1 million in prize money since turning pro in 2018, according to the Women’s Tennis Association.
Gauff is engaged in several off-court business endeavors including deals with New Balance, Barilla, Head, Baker Tilly, Bose, UPS
UPS,
and Rolex. Forbes estimated that Guaff received $8 million in endorsement money in 2022.
What does Gauff like to do with her money? She isn’t sure yet.
“I don’t like to spend money,” she said last year on the Tennis.com podcast. “When I had my first Grand Slam check, I wanted a car, but my dad had already bought it, and I don’t know what to buy now. My brother always said he wanted a Bugatti. I told him you better make it big if you want a Bugatti.”
Gauff is now ranked a career-best No. 3 in singles and No. 1 in doubles by the WTA.
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