As Emma Raducanu Becomes An Instant Millionaire, We Ask Is Sport The Best Route To Riches?

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Emma Raducanu Becomes An Instant Millionaire But Is Sport The Best Way To Make A Million?

British tennis sensation Emma Raducanu became a millionaire at 18 when she was presented with a cheque for $2.5 million after winning the US Open in straight sets on Saturday.

As I watched her collecting the cheque form the sponsors commentators were already predicting that she will become the richest woman in British sport and the most famous Brit alongside the Queen! No pressure then!

She certainly has the whole package of charisma, talent and brains to appeal to sponsors and advertisers which will propel her to the ranks of other sporting superstars such as David Beckham and Ronlado.

Emma was born in Toronto, Canada to a Romanian father and Chinese mother who then migrated to the UK for better opportunities.

She is the first qualifier, which means she has to play pre-match games in order to qualify to enter the tournament, to reach and win a Grand Slam final where she played another teenager Leylah Fernandez of migrant heritage. Leylah’s father is Ecuadorian and her mother is Filipino Canadian.

Last week, in an interview with Jeremy Vine on BBC Radio 2, the former British Tennis player Andrew Castle commented that there was something about both of the finalist’s ordinary migrant heritage that seemed to give them that extra drive and ambition to succeed against all the odds.

Emma will inspire young people to take up tennis and other sports which is wonderful. She will need to keep her feet on the ground and concentrate on her game rather than celebrity appearances, as well as very good financial advice. Too many young stars who become so-called ‘instant millionaires’ end up broke a few years later.

In fact, according to research for the book Secrets of the Millionaire Next Door, only a tiny percentage of millionaires are sports stars or celebrities. Most self-made millionaires are people in business.

The first step to building wealth and turning your finances around is financial education.

Millionaires and millionaire habits have been studied and documented at academic levels for the last hundred years. Bestselling books, like The Science of Getting Rich and Thinks and Grow Rich, were written almost a century ago. I have also published my own book on how people get wealthy and how some lose it all - Yes Money Can Buy You Happiness.

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