“What is important for Magnus is making the game more accessible for more fans around the world,” he said. They really want to have Magnus on board on every important decision. “We have very good communications with management in the company,” Henrik Carlsen said. His father sits on the board of directors, and Magnus Carlsen is consulted on major decisions. Though Carlsen has no role in the day-to-day operations of the company that bears his name, he has an outsized influence on its strategy.
Magnus Chess, in turn, is 85% owned by Carlsen that makes his personal stake in Play Magnus worth nearly $9 million. Magnus Chess, the private entity created when Carlsen was 16 to handle his winnings, owns 9% of Play Magnus, making it the second-largest shareholder. It is the only publicly traded chess company in the world. One year after it went public on the Euronext Growth Oslo stock exchange, Play Magnus now has a market capitalization of about $115 million. It now includes an online playing site, multiple teaching and training platforms, and digital and book publishing arms.Īccording to Andreas Thome, Play Magnus’ chief executive, the company has about 250 employees and about 4 million registered users of its products and proprietary learning programs. Initially designed as an app that allowed users to mimic Carlsen’s playing style and strength at different ages, Play Magnus has expanded, mostly through acquisitions, to become a company with a dozen subsidiaries. But the main vehicle for his business ventures is Play Magnus, a company that he co-founded in 2013, the year he became world champion. In the process, he has amassed a small fortune.Ĭarlsen has several private sponsorship agreements, including with Unibet, a sports betting site Isklar, a Norwegian water company and Simonsen Vogt Wiig, a Norwegian law firm. He has also done something that none of his contemporaries or predecessors, not even Garry Kasparov, who held the world title from 1985 to 2000, managed to do: He has leveraged his fame to become one of the chess world’s leading impresarios. Yet win or lose, the payday will only add incrementally to the millions of dollars Carlsen has earned in his career.
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