Chess, Money, and Prizes

 

Chess, Money, and Prizes

by Bill Wall

In May 1826, Johann Maelzel (1772-1838), the owner of the Turk Automaton Chess-Player, held a New York charity exhibition with The Turk and raised $128.50. The money was given to the Association for the Relief of Respectable Indigent Females.

In 1827, William Lewis (1787-1870) was a strong English chess player and author that declared bankruptcy due to bad investments.  His chess club in London was forced to close.

In 1845, the first place prize for the U.S. Championship match was $1,000 ($40,000 in today’s currency). The winner was Charles Stanley (1819-1901), defeating Eugene Rousseau (1810-1870) in a match.

In 1851, the prize fund at the Lonon 1851 International Tournament was 500 British pounds.  That would have been $2,500 at the time and $95,000 in today’s money.

In 1857, the $300 first place money for the first American Chess Congress played in New York was refused by Paul Morphy (1837-1884), the winner. Instead, he accepted a silver pitcher, four goblets, and a silver tray. Morphy gave the $100 prize money to Charles Stanley's (1819-1901) wife and children. As a mark of gratitude, she named her next daughter Pauline.

In 1858, Howard Staunton refused a purse of $6,000 ($200,000 in 2023) to play against Paul Morphy because he considered it too little money for a "formidable enterprise."

In May 1859, Paul Morphy was offered $3,000 ($64,000 in today’s money) to write a weekly chess column for one year in the New York Ledger.

In 1862, the prize fund in the International Tournament at London was 210 British pounds, of which 100 British pounds was given to Adolf Anderssen (1818-1879) for first prize.

In 1866, the stakes were 100 British pounds in the Anderssen vs. Steinitz match. The money was raised by the Westminster Chess Club.  The match was won by Wilhelm Steinitz (1836-1900).

In 1867, 1st prize at a Paris International Tournament was 5,000 francs ($104,000 in today’s currency), won by Ignatz von Kolisch. The top four finishers also received a Sevres vase, worth about 5,000 francs, and presented by the Emperor Napoleon III. Kolisch invested his vase in real estate right after the tournament.

In December 1871, first prize in the second American Chess Congress, held in Cleveland, was $100 (equivalent to $1,500 in today's currency). It was won by George Mackenzie. The total prize fund was $290.

In 1873, the emperor of Austria offered a prize of 200 ducats ($30,000 in today’s currency) to the winner of the Vienna International chess tournament. It was won by Steinitz.

In 1874, the total prize fund in the third American Chess Congress, held in Chicago, was $450. First place prize was $225. The players had to pay a $20 entry fee.

In 1886, the prize fund for the Steinitz-Zukertort world championship match (first official world championship match) was 400 British pounds (over $2,000) each. The prize fund was split evenly. Steinitz won the match, scoring 12.5 to 7.5.

In 1889, the second official world championship match had a prize fund of only $1,150, the lowest ever for a world championship match. Steinitz defeated Chigorin in the match.

In 1889, after the 6th American Chess Congress in New York was over, there was no money left for the non-prize winners. JeanTaubenhaus (1850-1919) of Paris was left destitute, having spent all his money he had to live on during the two months of the tourney. He received a cable dispatch from Paris to return and help manipulate the automaton Mephisto for 100 francs a week. But Taubenhaus had no money to buy a ticket for a ship leaving for Europe. He asked the tournament committee for $25 to enable him to secure at least a steerage passage, but the request was refused.

In 1890-1891, the total prize fund in the Steinitz vs. Gunsberg world championship match was $3,000.  Steinitz won and earned $2,000.  Gunsberg earned $1,000.

In 1894, the prize fund for the Steinitz-Lasker world championship match was 400 British pounds ($64,000 in today’s currency) a side.

In 1898, Prince Balaschoff hired Samuel Rosenthal (1837-1902) to be his chess teacher for 500 francs a month and 1,000 francs with Rosenthal accompanied Prince Balaschoff when he travelled. After about 6 months, Prince Balaschoff got rid of Rosenthal. Rosenthal complained that he was owed money and took it to court in Paris. Rosenthal brought an action to recover 15,000 francs of pay according to agreements, 1,000 francs for their last journey, and 25,000 francs indemnity for sudden dismissal, and for loss of profits by non-publication of the chess work on which they had been engaged. The court awarded Rosenthal 15,000 francs for salary according to agreements but rejected all his other demands.

In the 1901 New York chess championship, 1st place was $40. ($1,020 in today's money). It was won by Julius Finn.

In 1909, Czar Nicholas of Russia donated 1,000 rubles for the chess congress prize fund held in St. Petersburg. The total prize fund for the event for the chess congress was 10,500 rubles.

In November 1909, Frank Marshall (1877-1944) defeated Jackson Showalter in a match, held in Lexington, Kentucky. The prize was $500 a side.

In 1914, a chess congress was held in Mannheim, Germany. During the event, World War I broke out. Only 11 rounds out of a scheduled 17 were played. All the Russian masters were arrested and the prize fund was cut in half.

In 1916, the chess player Charles Jaffe (1879-1941) was involved in a court battle involving non-inclusion for publication of some of his chess analysis. Jaffe brought suit to recover $750 for work alleged to have been done in analyzing the Rice Gambit that was never published for a book called "Twenty Years of the Rice Gambit." Jaffe lost the case, since the publisher never asked Jaffe to do any analytical work for him.

In 1920-21, the world championship prize fund was $25,000 ($400,000 in 2023 money). The purse was to be divided as follows: Dr. Emanuel Lasker would get $13,000 and Capablanca would get $12,000, win, lose or draw. After five games, the "Commission for the encouragement of touring throughout Cuba" gave an extra $5,000, of which $3,000 would go to the winner and $2,000 would go to the loser.

In 1927, the prize fund for the Alekhine-Capablanca world chess championship was $10,000 ($176,000 in today’s currency). Capablanca also received a $20,000 appearance fee. Alekhine won the match with 6 wins, 3 losses, and 25 draws.

The 1929 world chess championship (Lasker vs Capablanca) prize fund was worth over $400,000 in today’s money.

In 1935, Max Euwe won the world championship match against Alexander Alekhine and won the $10,000 stake. Euwe won the match with 9 wins, 8 losses, and 13 draws.

Alexander Alekhine (1892-1946) made $500,000 during his career.  Botvinnik and Petrosian earned about $200,000 during their careers.  Mikhail Tal never earned over $100,000 during his career.  [source:  chess.com, Aug 29,2022]

In 1946, Mikhail Botvinnik won the first international chess tournament after World War II, Groningen 1946. His prize was 1,500 Dutch guilders (about $800) and a silver cigarette box from the Queen of England.

In 1948, first place in the first chess Interzonal, held in Saltsjoboden, Sweden, was $550. It was won by David Bronstein (1924-2006).

In 1950, David Bronstein and Isaac Boleslavsky won the first Candidates tournament in Budapest, Hungary. They split the first prize of $5,000.

In 1957, Bobby Fischer won $750 after winning the US Open in Cleveland.

In 1959-1960, the first-place prize in the U.S. championship was $1,000, won by Bobby Fischer.

In 1962, Bobby Fischer earned $750 for his 1st place money at the 1962 Interzonal.

In 1964, first place in the 1964 Interzonal in Amsterdam was $250 after a month's work.

In 1966, the total prize fund for the Petrosian vs. Spassky world chess championship match was $2,000.

In 1967, GM Jan Hein Donner (1927-1988) played in Venice and donated his 1^st place prize trophy (a golden gondola with 12 jewels) to the Medical Committee of North Vietnam.  After that, he lost his chess column in the Netherlands.

In 1969, Boris Spassky received $1,400 for winning the world championship match from Tigran Petrosian.  The Soviet government took most of his winnings.

In 1971, the prize fund for the USSR championship, the strongest country championship in the world, was 250 rubles.

In 1972, Bobby Fischer earned $250,000 ($1.8 million in today’s currency) for his world championship match with Spassky in Reykjavik.

In 1973, Bobby Fischer handed over $61,200 of his 1972 world championship prize money to the Worldwide Church of God.  He may have never been a member.

In 1973, the first World Open, held in Manhattan, chess tournament had a prize fund of $15,000. First place was $2,000, won by Walter Browne.

In 1977, Bobby Fischer was offered $250,000 to play one chess game at Caesar's Palace in Las Vegas. Afterwards, President Marcos of the Philippines offered to sponsor a $3 million championship match in the Philippines, featuring Fischer.

In 1978, the world championship match prize fund was $560,000. The winner (Anatoly Karpov) received 5/8, and the loser (Viktor Korchnoi) received 3/8 of the prize fund. Karpov won the match, scoring 6 wins, 5 losses, and 21 draws.

It was not until 1979 that a chess tournament had a prize fund of over $200,000 after inflation.

In 1980, MIT computer science professor Edward Fredkin (1934-2023) offered $10,000 to the first program with an established rating of 2450, and $100,000 prize fund to go to the first program to defeat the world chess champion. The computer BELLE was awarded the prize of $5,000 for becoming the first program to achieve a master's rating.

In 1983, some of the prize fund for a tournament held in Ohio went to the Ohio Nuclear Weapons Freeze campaign.

The 1985 world chess championship prize fund was 72,000 rubles, with 5/8 for the winner and 3/8 for the loser.

In 1986, the London portion of the prize fund for the world chess championship between Karpov and Kasparov, held in London and Leningrad, was donated to the victims of the Chernobyl nuclear plant disaster.

In 1987, the prize fund for the world chess championship between Karpov and Kasparov in Seville, Spain was 2,280,000 Swiss francs. Both Karpov and Kasparov got a mere 137,000 Swiss francs each. The rest of the prize fund went to the Soviet Sports Committee.

In 1988, Guillermo Garcia (1954-1990), three-time chess champion of Cuba, took 2nd place in the New York Open. His $10,000 prize was confiscated by the Department of Treasury, invoking the Trading with the Enemy Act of 1917, because he was Cuban. The money is still in escrow.

In 1988, the World Active Chess Championship was held in Mazatlan.  At the end of the event, only a limited amount of cash was available.  After the event, many winners did not receive any prize money.  Some who received checks found out that the checks bounced.  The tournament director’s check also bounced.

In 1988, the $10,000 Fredkin Prize was awarded to the inventors of DEEP THOUGHT for being the first program to achieve Grandmaster status.

In 1989, the Belgrade Grandmaster's Association (GMA) had a prize fund of $100,000, funded by Yugoslav Airlines. 98 grandmasters participated in this event, won by GM Krunoslav Hulak of Yugoslavia.

In 1990, the prize fund for the Kasparov-Karpov match was $3 million. Kasparov won the match with 4 wins, 3 losses, and 17 draws. He received $1.875 million in prize money.

In 1992, the prize fund for the Fischer-Spassky rematch was $5 million. The winner, Fischer, got $3,650,000.

In 1994, the 1st place prize in the U.S. Chess Championship, held in Key West, Florida, was $8,000. It was won by GM Boris Gulko. 

In 1995, the prize fund for the Kasparov-Anand world championship match was $1.5 million. Kasparov beat Anand with 4 wind, 1 loss, and 13 draws and received $1 million in prize money.

In 1997, the $100,000 Fredkin prize was awarded to the inventors of DEEP BLUE computer, which beat Garry Kasparov in the final game of their 6-game match in May 1997.

In 2000, the prize fund for the Braingames World Chess Championship, held in London, was $2 million between Kasparov and Kramnik. Kramnik beat Kasparov with 2 wins, no losses, and 13 draws and won 1.33 million.

In 2000, Grandmaster Valery Solov was supposed to be paid a $1,000 by check for chess commentary on Games Parlor.   The check bounced.

In 2002, Vladimir Kramnik got $800,000 for playing Deep Fritz in a match. 

In 2003, Sandy Jones, a Washington DC school administrator, stole $30,000 from a special needs school chess club that was to be used for local and national chess tournaments. She stole the money from the chess club's bank account between May 2003 and November 2003. The 4th, 5th, and 6th grade students were all diagnosed with bipolar disorder or attention-deficit order. Chess was part of their therapy.   [source: Washington Examiner, Nov 5, 2007]

In 2004, the US Chess Federation (USCF) almost went bankrupt.  It had lost money 7 years in a row, with total losses amounting to $1.7 million.

In 2005, the HR Global Chess Challenge tournament was held in Minneapolis, Minnesota. It was the richest open chess tournament in history, with a $500,000 prize fund. First place was $50,000, won by GM Zviod Izonia of Soviet Georgia. The event drew 1,358 players and 43 grandmasters.

In 2005, Erik Allebest and Jay Severson bought the domain name Chess.com for $55,000 from a failed chess tutoring startup that had gone bankrupt.  They are now worth over $1 million.

In 2006, the 34th World Open had a prize fund of $358,000, with 1st place being $18,000.

In 2006, the Kramnik-Topalov world championship match had a prize fund of $1 million. The prize fund was arranged to be split at $500,000 for each player. Kramnik won the match on tiebreaks.

In 2007, $73,000 was donated on behalf of a chess program and team at an elementary school in Washington, D.C. It turned out that the school business manager who handled the funds was a thief. The business manager ripped off most of the $73,000 that was supposed to go to the chess program. The person used the school's ATM card more than 100 times to steal from the chess fund. When the pillage was discovered, the school security and the police were immediately notified, but the authorities did little or nothing until an anonymous tipster told the D.C. government's inspector general about the missing money. Before the plundering, the money was used to fund 12 Washington D.C. kids to Nashville to take part in the national scholastic chess tournament. The children of the chess team never competed in another tournament after the theft of their funds.  [source: Washington Examiner, Nov 1, 2007] 

In 2008, the world chess championship prize fund was 2 million Euros ($2.7 million). The winner (Viswanathan Anand) got 60% and the loser (Veselin Topalov) got 40%. In addition, 400,000 Euros went to FIDE and 600,000 went to the Bulgarian organizers.

In 2008, Ethiopia, Uganda, and Nigeria Chess Federations were barred from the 2008 Chess Olympiad in Dresden, Germany because of their failures to pay their annual FIDE dues. The countries later work out their issues and were able to play. Before the Chess Olympiad started, 25 nations owed dues money to FIDE. Eventually, 23 countries paid their dues except the Ethiopia, Uganda, and Nigeria Chess Federations.

Bobby Fischer (1943-2008) earned $3.52 million during has chess career.

In 2009, the prize fund in the U.S. championship was $100,000, with $30,000 going to the winner.

In 2009, the Anand-Kramnik world championship match has a prize fund of $1.9 million. The prize fund was arranged to be split at $950,000 for each player. Anand won the match with 3 wins, 1 loss, and 7 draws.

In 2009, Excalibur Electronics, makers of chess computers, went bankrupt and their National Chess Museum closed down.

In 2009, the 2nd Gedeon Barcza Memorial was supposed to take place in Budapest. Although the first round was actually played with 5 International Masters and 7 Grandmasters, it soon became clear that the main organizer did not have the money to play for the hotel or the players. The Ramada Resort Hotel, where the players were staying and where the tournament was held, never received any money from the organizer. On the second day, the hotel decided to close the playing hall. The hotel manager said, "no money, no business." All 12 chess players were financially harmed and the top GMs were still waiting for their appearance fees. The organizer blamed the situation on lost potential sponsors.

The 2010 U.S. Women's Championship had a prize fund of $65,000, the largest prize fund in the history of women's chess. 1st place was $16,000, won by Irina Krush.

The 2010 U.S. Men's Championship had a prize fund of $170,000. 1st prize was $30,000, won by Gata Kamsky.

In 2010, the Anand-Topalov world championship match had a prize fund of $2.8 million. Anand won the match with 3 wins, 2 losses, and 7 draws and received $1.68 million.

In the 2011 US chess championship, 1st place was $40,000. Total prize fund was $166,000.

In 2012, the Anand-Gelfand world championship match had a prize fund of $2.55 million. Anand won the match on tiebreaks and received $1.53 million. He was also given a $400,000 bonus from the Indian government.

In 2012, two brothers, Martius and Retief van Zyl, stole the equivalent of $6,000 that was to be used for the South African Junior National Chess Championships. The money came from the Boardwalk Casino and the Sports and Recreation Department to fund chess. The brothers were members of the Nelson Mandela Bay Chess Union.

In 2012, the U.S. championship prize fund was $160,000.

In 2013, the Carlsen-Anand world championship match had a prize fund of $2.5 million. Carlsen won the match with 3 wins, no losses, and 7 draws. He won $1.5 million for winning the match.

In 2014, the Chess Olympiad was played in Norway.  After the event, the organization behind the event, Sjakk-OL, faced bankruptcy.  The organization failed to pay a bill of $94,000 for cleaning services performed during the Olympics.  [source: NewsInEnglish.no, Oct 16, 2014]

The 2014 US championship had a prize fund of $171,000, plus an extra $64,000 for any perfect score (the Fischer bonus).

The 2014 Sinquefield Cup had a total prize fund of $315,000. Fabiano Caruana, who won the event, won $100,000.

In 2014, the prize fund for the world championship was 1 million Euros ($1.25 million), with 60% going to the winner (Carlsen) and 40% to the loser (Anand).

In 2014, GM Wesley So won $100,000 in the Millionaire Tournament in Las Vegas.

In 2015, the chess World Cup for 2015 has a prize fund of $1.6 million.

In 2016, the world’s biggest chess championship faced bankruptcy over a large tax bill.  This was the Delancey UK Schools Chess Challenge that involved over 1,200 schools in the UK and 45,000 kids.  The 300,000 tax bill was due to not having charged Value-Add Tax (VAT) on entry fees over a 10-year period.  The organizer, Michael Basman (1946-2022), did not have the money and declared bankruptcy in 2017 and lost control of the UK Chess Challenge.

In 2016, the prize fund for the 2016 Candidates Tournament was 420,000 euros. 1st place was 95,000 euros.

In 2017, the prize fund in the 2017 US championship was $194,000. 1st place was $50,000.

In 2018, the prize fund for the Candidates Tournament was 420,000 euros ($516,000). 1st place was 95,000 euros.

In November-December 1843, the stakes were 100 British pounds a side in the Staunton vs. Saint-Amant match, held in Paris. Staunton won the stake.

In 1845, the first-place prize for the U.S. Championship match was $1,000. The winner was Charles Stanley (1819-1901), defeating Eugene Rousseau (1810-1870) in a match.

In 1851, the first international chess tournament was held in London. Adolf Anderssen won the event. His prize was 183 British pounds and a silver cup. He owed 1/3 of his winnings to Szen after a private agreement that if either one were to take first place, he would share 1/3 to the other. The total prize fund was 551 British pounds (over $500,000 in 2021 dollars), raised by Howard Staunton.

In August 1857, the first British Chess Association (BCA) Congress was held in Manchester, England. The winner was Johann Jacob Loewenthal (1810-1876) in the 8-person major section. Loewenthal was supposed to play Boden in the final round, but after the first game was drawn, Boden was unable to remain in Manchester, and conceded the prize to Loewenthal. First prize was a set of Chinese carved ivory chessmen. John Owens (1827-1901) won the 16-player minor section. The first place prize was a set of Staunton chessmen made of wood.

In 1857, first prize in the first American Chess Congress was $300 (equivalent to almost $7,000 in today's currency). Paul Morphy won first prize, but refused to take any money. He did accept a silver service consisting of a pitcher, four goblets, and a tray. Morphy's prize was given to him by Oliver Wendell Holmes.

In 1857, Paul Morphy defeated Charles Stanley in a chess match and was awarded $100 in prize money. Morphy gave the money to Stanley's wife and children. As a mark of gratitude, she named her daughter Pauline, who was born in December, 1857.

In 1858, Staunton refused a purse of $6,000 ($190,000 in 2021) to play against Paul Morphy because he considered it too little money for a "formidable enterprise."

In 1861, Wilhelm Steinitz (1836-1900) won the Vienna chess championship. His first place prize was a suitcase.

In 1862, the prize fund in the International Tournament at London was 210 British pounds, of which 100 pounds was given to the first prize to Adolf Anderssen.

In 1866, the stakes were 100 British pounds in the Anderssen vs. Steinitz match. The money was raised by the Westminster Chess Club, won by Steinitz.

In 1867, 1st prize at a Paris International Tournament was 5000 francs, won by Ignatz von Kolisch. The top four finishers also received a Sevres vase, worth about 5,000 francs, and presented by the Emperor Napoleon III. Kolisch invested his vase in real estate right after the tournament.

In December 1871, first prize in the second American Chess Congress was $100 (equivalent to $1,500 in today's currency). It was won by George Mackenzie. The total prize fund was $290.

In 1873, the emperor of Austria offered a prize of 200 ducats to the winner of the Vienna International chess tournament. It was won by Steinitz.

In 1874, the total prize fund in the third American Chess Congress was $450. First place prize was $225. The players had to pay a $20 entry fee.

In September 1876, the first "brilliancy prize" was awarded to Henry Bird for his game against James Mason, played in New York. The prize was a silver cup.

In 1878, a subscription was raised by American chess players to send James Mason (1849-1905) to a Paris tournament. Mason failed to win any prize money and was so embarrassed, that he did not return to the United States. He then settled in London. The first place prize at the Paris tournament was a Sevres vase, worth over 5,000 francs. It was won by Johannes Zukertort, given to him by the President of France. Zukertort sold it three days later at a pawn shop for about half the value.

In 1886, the prize fund for the Steinitz-Zukertort world championship match (first official world championship match) was 400 British pounds ($2,000) each. The prize fund was split evenly. Steinitz won the match, scoring 12.5 to 7.5.

In 1889, the first "best game" prize in a major tournament was awarded to Gunsberg for his game against Mason, played in New York.

In 1889, the second official world championship match had a prize fund of $1,150, the lowest ever for a world championship match. Steinitz defeated Chigorin in the match.

In 1890-91, the world championship match was between Steinitz and Gunsberg. This was one of the the first times that the loser took a share of the prize money. All previous world championship matches, the loser did not get any prize money. Steinitz won the match with 6 wins, 4 losses, and 9 draws. He took home a $2,000 winner's share.

In 1894, the prize fund for the Steinitz-Lasker world championship match was 400 British pounds a side.

In the 1901 NY chess championship, 1st place was $40. ($1,020 in today's money). It was won by Julius Finn.

In 1904, Baron Albert Rothschild (1844-1911) donated 500 francs ($100) for the brilliancy prize at the chess tournament in Cambridge Springs.

In 1909, Czar Nicholas of Russia donated 1,000 rubles for the chess congress prize fund held in St. Petersburg. The czar also donated a vase of the Imperial porcelain manufacturer as a first place for the all-Russian Minor Tournament. The prize fund for the event for the chess congress was 10,500 rubles.

In November 1909, Frank Marshall (1877-1944) defeated Jackson Showalter in a match, held in Lexington, Kentucky. The prize was $500 a side.

In 1914, a chess congress was held in Mannheim, Germany. During the event, World War I broke out. Only 11 rounds out of a scheduled 17 were played. All the Russian masters were arrested and the prize fund was cut in half.

In 1916, first place prize for the winner of the Tarrasch-Mieses match, held in Berlin, was a kilogram of butter. Tarrasch won the match with a 9-4 score.

In 1916, the first place prize at a chess tournament in New York was a barrel of schmaltz herring.

In 1920, all the chess players stopped playing and went on strike at the 1st All-Russian Chess Olympiad, held in Moscow. They refused to play unless they were given more prize money and better rations. Their demands were finally met and the tournament continued.

In 1920-21, the world championship prize fund was $25,000 ($370,000 in 2021 money). The purse was to be divided as follows: Dr. Emanuel Lasker would get $13,000 and Capablanca would get $12,000, win, lose or draw. After five games, the "Commission for the encouragement of touring throughout Cuba" gave an extra $5,000, of which $3,000 would go to the winner and $2,000 would go to the loser.

In 1925, in a blitz tournament held in Breslau, the first-place prize was enough silk to make six shirts. Hans Kmoch was the winner of the tournament and the silk.

In 1927, the prize fund for the Alekhine-Capablanca world chess championship was $10,000. Capablanca also received a $20,000 appearance fee. Alekhine won the match with 6 wins, 3 losses, and 25 draws.

In 1935, Max Euwe won the world championship match against Alekhine and won the $10,000 stake. Euwe won the match with 9 wins, 8 losses, and 13 draws.

During his chess career, Alexander Alekhine (1892-1946) obtained 19 brilliancy prize awards, more than any other chess player.

In 1948, first place in the first chess Interzonal, held in Saltsjoboden, Sweden, was $550. It was won by David Bronstein.

In 1946, Botvinnik won the first international chess tournament after World War II, Gronignen 1946. His prize was 1,500 Dutch guilders and a silver cigarette box from the Queen of England. A tablecloth was given to the best non-prize winner. A picture of the Martini Tower in Groningen in a silver frame was given to the last place finisher.

In 1948, first place in the 1948 Interzonal was $550.

In 1948, Mikhail Botvinnik received $5,000 for winning the 1948 world championship.

In 1950, Bronstein and Boleslavsky won the first Candidates tournament in Budapest, Hungary. First prize was $5,000.

In 1951, the winner of the world chess championship match received $6,000. The loser received $4,000.

In 1955, the first place prize at the U.S. Open in Long Beach was a new Buick automobile. It was won by Nicholas Rossolimo.

In 1957, Fischer won $750 after winning the US Open in Cleveland.

In 1959-1960, the first place prize in the U.S. championship was $1,000, won by Bobby Fischer.

In 1962, Fischer earned $750 for his 1st place money at the 1962 Interzonal.

In 1964, first place in the 1964 Interzonal in Amsterdam was $250 after a month's work.

In 1966, Petrosian received $2,000 for his win over Boris Spassky.

In 1966, the first place prize in the U.S. Championship was $2,500, won by Bobby Fischer for the 8th time.

In 1968, Grandmaster Jan Donner took 1st place at the International Tournament in Venice. Donner announced on television that he would donate the prize he won to the Viet Cong – on the condition that the proceeds were to be used for buying machine guns, not medicine. After the announcement, Donner's position as the weekly chess editor for Elseviers Weekblad was terminated.

In 1969, Boris Spassky received only $1,400 for winning the world championship match from Tigran Petrosian.

In 1971, the prize fund for the USSR championship, the strongest country championship in the world, was 250 rubles.

In 1971, the prize fund for the Buenos Aires candidates match was $7,500 for the winner (Fischer) and $4,500 for the loser (Petrosian).

In 1972, Iceland originally offered $62,500 and Yugoslavia offered $76,000 prize money for the world championship match between Fischer and Spassky. Belgrade, Yugoslavia later increased the prize money to $152,000. Buenos Aires proposed $100,000. Iceland increased their prize money to $125,000, tax-free. Jim Slater, a businessman in London, added $125,000 to the prize money. The total prize fund at Reykjavik was $250,000. That amount exceeded the sum total of all prize money from the previous 27 world championship matches since 1886. Fischer got $153,240 for winning the world championship in 1972, and another $40,000 in royalties. Fischer received 30% of the television rights and gate money.

Fischer asked the Icelandic Chess Federation (ICF) to deposit $46,875 (half the loser's share of the prize fund) in his bank account before the match started. The ICF refused.

Spassky's share of the 1972 world championship match prize money at the end of the match was $93,750, the most money he had ever seen or made. Prior to this match, the most money Spassky had ever won was $5,000, in a tournament outside the USSR.

In 1973, Fischer handed over $61,200 of his 1972 world championship prize money to the Worldwide Church of God.

In 1973, the first World Open chess tournament had a prize fund of $15,000. First place was $2,000, won by Walter Browne.

In 1976, there were no medals given for board prizes at the 22nd Chess Olympiad in Haifa, Israel as in past chess Olympiads. Instead, there was a miscellany of prizes, only one per board. For example, the best 6th board went to Kim Collins of the USA. He received a copy of Bobby Fischer's My 60 Memorable Games.

In 1977, Bobby Fischer was offered $250,000 to play one chess game at Caesar's Palace in Las Vegas. Afterwards, President Marcos of the Philippines offered to sponsor a $3 million championship match in the Philippines.

In 1978, the world championship match prize fund was $560,000. The winner (Karpov) received 5/8, and the loser (Korchnoi) received 3/8 of the prize fund. Karpov won the mach, scoring 6 wins, 5 losses, and 21 draws.

In 1980, MIT computer science professor Edward Fredkin offered $10,000 to the first program with an established rating of 2450, and $100,000 prize fund to go to the first program to defeat the world chess champion. The computer BELLE was awarded the prize of $5,000 for becoming the first program to achieve a master's rating.

In 1983, some of the prize fund for a tournament held in Ohio went to the Ohio Nuclear Weapons Freeze campaign.

The 1985 world chess championship prize fund was 72,000 rubles, with 5/8 for the winner and 3/8 for the loser.

In 1986, the London portion of the prize fund for the world chess championship between Karpov and Kasparov, held in London and Leningrad, was donated to the victims of the Chernobyl nuclear plant disaster.

In 1987, the prize fund for the world chess championship between Karpov and Kasparov in Seville, Spain was 2,280,000 Swiss francs. Both Karpov and Kasparov got a mere 137,000 Swiss francs each. The rest of the prize fund went to the Soviet Sports Committee.

In 1988, GM Guillermo Garcia Gonzales took 2nd place in the 1988 New York Open. His $10,000 prize money was confiscated by the Department of Treasury, invoking the Trading with the Enemy Act of 1917, because he was Cuban. In 1990, he died in a car accident in Havana and the Treasury Department kept the money.

In 1988, the $10,000 Fredkin prize was awarded to the inventors of DEEP THOUGHT for being the first program to achieve Grandmaster status.

In 1989, the Belgrade Grandmaster's Association (GMA) had a prize fund of $100,000, funded by Yugoslav Airlines. 98 grandmasters participated in this event, won by GM Krunoslav Hulak of Yugoslavia.

In 1990, the prize fund for the Kasparov-Karpov match was $3 million. Kasparov won the match with 4 wins, 3 losses, and 17 draws. He received $1.875 million in prize money.

In 1991, Artashes Minasian won the 58th and last USSR chess championship, held in Moscow. His prize was a gold medal and a new automobile fresh from the "Lada" factory.

In 1992, the prize fund for the Fischer-Spassky rematch was $5 million. The winner, Fischer, got $3,650,000.

In 1993, the FIDE world championship match was supposed to be between Garry Kasparov and Nigel Short. However, Kasparov wasn't happy with the prize fund, so he broke away from FIDE and helped founded the Professional Chess Association (PCA). Kasparov objected that 20% of the prize fund would go to FIDE.

In 1994, the 1st place prize in the U.S. Championship, held in Key West, Florida, was $8,000. It was won by Boris Gulko.

In 1995, the prize fund for the Kasparov-Anand world championship match was $1.5 million. Kasparov beat Anand with 4 wind, 1 loss, and 13 draws and received $1 million in prize money.

In 1997, the $100,000 Fredkin prize was awarded to the inventors of DEEP BLUE computer, which beat Garry Kasparov in the final game of their 6-game match in May, 1997.

In 2000, the prize fund for the Braingames World Chess Championship was $2 million between Kasparov and Kramnik. Kramnik beat Kasparov with 2 wins, no losses, and 13 draws and won 1.33 million.

In 2002, Kramnik got $800,000 for playing Deep Fritz in a match.

In 2005, the HR Global Chess Challenge tournament was held in Minneapolis, Minnesota. It was the richest open chess tournament in history, with a $500,000 prize fund. First place was $50,000, won by GM Zviod Izonia of Soviet Georgia. The event drew 1,358 players and 43 grandmasters.

In 2006, the 34th World Open had a prize fund of $358,000, with 1st place being $18,000.

In 2006, the Kramnik-Topalov world championship match had a prize fund of $1 million. The prize fund was arranged to be split at $500,000 for each player. Kramnik won the match on tiebreaks.

In 2008, the world chess championship prize fund was 2 million Euros ($2.7 million). The winner (Viswanathan Anand) got 60% and the loser (Veselin Topalov) got 40%. In addition, 400,000 Euros went to FIDE and 600,000 went to the Bulgarian organizers.

In 2009, the Anand-Kramnik world championship match has a prize fund of $1.9 million. The prize fund was arranged to be split at $950,000 for each player. Anand won the match with 3 wins, 1 loss, and 7 draws.

In 2009, the prize fund in the U.S. championship was $100,000, with $30,000 going to the winner.

The 2010 U.S. Women's Championship had a prize fund of $65,000, the largest prize fund in the history of women's chess. 1st place was $16,000, won by Irina Krush.

The 2010 U.S. Men's Championship had a prize fund of $170,000. 1st prize was $30,000, won by Gata Kamsky.

In 2010, the Anand-Topalov world championship match had a prize fund of $2.8 million. Anand won the match with 3 wins, 2 losses, and 7 draws and received $1.68 million.

In the 2011 US chess championship, 1st place was $40,000. Total prize fund was $166,000.

In 2012, the Anand-Gelfand world championship match had a prize fund of $2.55 million. Anand won the match on tiebreaks and received $1.53 million. He was also given a $400,000 bonus from the Indian government.

In 2012, the U.S. championship prize fund was $160,000.

In 2013, the Carlsen-Anand world championship match had a prize fund of $2.5 million. Carlsen won the match with 3 wins, no losses, and 7 draws. He won $1.5 million for winning the match.

The 2014 US championship had a prize fund of $171,000, plus an extra $64,000 for any perfect score (the Fischer bonus).

The 2014 Sinquefield Cup had a total prize fund of $315,000. Fabiano Caruana, who won the event, won $100,000.

In 2014, the prize fund for the world championship was 1 million Euros ($1.25 million), with 60% going to the winner (Carlsen) and 40% to the loser (Anand).

In 2014, Wesley So won $100,000 in the Millionaire Tournament in Las Vegas.

In 2015, the chess World Cup for 2015 has a prize fund of $1.6 million.

In 2016, the prize fund for the 2016 Candidates Tournament was 420,000 euros. 1st place was 95,000 euros.

In 2017, the prize fund in the 2017 US championship was $194,000. 1st place was $50,000.

In 2018, the prize fund for the Candidates Tournament was 420,000 euros ($516,000). 1st place was 95,000 euros.

In 2018, the prize fund for the Carlsen-Caruana world championship match was 1 million euros. Carlsen got 55% and Caruana got 45%.

In October 2019, Park Jin-soo won the 2018 Auto Chess Invitational.  He is yet to receive more than half of his prize money.  Tournament organizers said that due to COVID-19, the money distribution was delayed.

In 2019, the total prize pool for all the chess tournaments that year was $8,622.047.

In May 2020, world champion Magnus Carlsen won $70,000 in the richest online chess tournament ever, called the Magnus Carlsen Invitational. The total prize fund was $250,000. [source: Morse, "Magnus Carlsen wins $70,000 as he triumphs in richest online chess tournament ever," CNN, May 5, 2020]

In November 2020, the Champions Chess Tour kicked off with a $1.5 million prize fund. [source: "Champions Chess Tour with $1.5 million in prizes to kick off next week," ChessBase News, Nov 14, 2020]

In 2020, Magnus Carlsen earned $519,997. Ju Wenjun, the world woman's chess champion, earned $347,368. [source: chessprizes.com]

In January 2021, GM Teimor Radjabov won $60,000 for winning the online Airthings Masters. GM Levon Aronian took 2nd place, earning $40,000.

In 2022, GM Magnus Carlsen earned $560,000 in 2022.  [source: chess.com, Jan 5, 2023] 

In 2023, the prize fund for the world chess championship between Ding Liren and Ian Nepomniachtchi  was $2.17 million.

In 2023, The German Chess Federation (DSB) has investigators probing why at least $550,000 appears to be missing from its treasury.  The DSB has 87,000 members (down from 93,000 last year) and 2,400 clubs in Germany.  But the DSB has been recently struggling to stay afloat amid a series of scandals.  The DSB president blamed the huge cash loss to miscalculations, additional expenses incurred, and inflation.  The 2023 German Masters tournament was cancelled from lack of funds

In 2023, British Grandmaster Simon Williams was ordered to pay 730,000 British pounds for a pension scheme of which he was the sole trustee.

In 2023, the Chess Federation of Guatemala was accused of stealing over $13,000 from money they received from FIDE to develop chess in their country.

In August 2023, the Prix Mohammed VI tournament was held in Casablanca, Morocco.   The winners, the arbiters, and the tournament director are still waiting to be paid and release of the winners' prizes, which has been withheld by the Moroccan Chess Federation.  Some checks were presented to the hotel of the event, but the checks bounced. 

In November 2023, the prize fund in the World Senior Championship was 42,500 Euros.

Magnus Carlsen has a net worth of 100 million krone (NOK), or 8.6 million British pounds, or 10,787,840 U.S. dollars.

Vishy Anand has a net worth of $10 million.

Garry Kasparov has a net worth of over $17 million.

Anatoly Karpov has a net worth over $14 million.

In New York City, the top chess hustlers make $400 a day.

The average salary for chess jobs is $35,000. Average chess salaries can vary greatly due to company, location, industry, experience and benefits.

FIDE usually takes a 20% cut from cash prizes in FIDE events.