Nadal, Serena Williams Taxed Heavily On $3.6M Earnings From U.S. Open
Rafael Nadal and Serena Williams each took home a record $3.6M in prize money for winning U.S. Open titles, "but both champions lamented the fact that much of their prize was going to be taken in taxes." Nadal and Williams captured the $2.6M for winning the year's final grand slam title plus a $1M bonus "for having the most successful run" in pre-U.S. Open tournaments. Nadal said, "At the end, it's a lot of money anyway, but that's not the real prize money. You have to pay the tax, and in Spain today it is 56 [percent], I think." Williams, who surpassed a women's-record $9M for the season, has now earned $50M in her career. Williams faces "a hefty bite from 'Uncle Sam.'" Williams: "Someone told me today I passed 50 [million], but half of that goes to Uncle Sam. I love him. I'm always giving him half my money" (AFP, 9/11).