Daniil Medvedev, a prominent Russian tennis professional, has attained the coveted world No. 1 ranking in men’s singles by the Association of Tennis Professionals.
In addition to currently holding the world No. 3 position. Boasting an impressive record, Medvedev has clinched 20 ATP Tour singles titles, securing victories at prestigious events such as the 2021 US Open and the 2020 ATP Finals.
His triumph at the 2021 US Open was particularly noteworthy, as Medvedev emerged victorious in the final against then-world No. 1 Novak Djokovic, preventing Djokovic from achieving the Grand Slam.
In a historic feat, Medvedev became the sole player to conquer the top three ranked players in the world en route to claiming the year-end championship title at the ATP Finals.
Medvedev’s achievements also include winning six Masters titles, each at different venues, a distinction shared by only five other players in tennis history. Furthermore, he has contested five major finals, showcasing his prowess on the grand stage of tennis.
The beginning of Medvedev’s professional journey saw him make his ATP Tour main draw debut at the 2015 Kremlin Cup, initially in the doubles event. Subsequent years marked significant milestones, with his singles major debut at Wimbledon in 2017, where he notably defeated world No. 3 Stan Wawrinka.
The year 2018 witnessed Medvedev securing his maiden ATP Tour singles titles at Sydney and Winston-Salem, along with his first ATP 500 title in Tokyo.
A breakthrough year for Medvedev unfolded in 2019, marked by his top 10 debut post-Wimbledon and an impressive run of six consecutive tournament finals, including a notable appearance at the US Open.
In February 2022, he made history by becoming the first player outside the Big Four to hold the world No. 1 ranking since Andy Roddick in 2004. Medvedev joined the ranks of esteemed Russian players Yevgeny Kafelnikov in 1999 and Marat Safin in 2000, solidifying his place as the 27th man overall to achieve this prestigious ranking.
Where Does Daniil Medvedev Live?
Daniil Medvedev currently lives in Monte Carlo, which is officially designated as an administrative area within Monaco. More precisely, he resides in the ward of Monte Carlo/Spélugues, where the renowned Monte Carlo Casino is situated.
Why Do Tennis Players Live In Monte Carlo?
Monaco stands out as a preferred tax haven for tennis players seeking to evade income taxes. Additionally, players opt for locations like Dubai, Switzerland, and The Bahamas due to similar economic advantages. Below is a compilation of ATP players residing in these tax havens.
Tennis players, including the likes of Novak Djokovic, often choose to reside in Monte Carlo due to its status as a tax haven. The Principality of Monaco distinguishes itself by not imposing personal income taxes and abstaining from levying net wealth taxes.
This financial environment proves particularly attractive for top-ranked players who earn substantial incomes through prize money and lucrative sponsorship deals, often amounting to millions of dollars annually.
The decision to live in a tax haven like Monaco is driven by the financial benefits derived from the absence of income and wealth taxes, allowing players to retain a more significant portion of their earnings.
This strategic choice aligns with the unique nature of taxation in professional tennis, where athletes earn their livelihood in various countries throughout the year, and tax laws vary significantly from one nation to another.
The intricacies of taxation in professional tennis reflect the dynamic and global nature of the sport, where players compete internationally and face diverse tax regulations in each location.
Despite the complexity of tax considerations, the allure of residing in a tax haven remains a lucrative and practical decision for high-earning tennis professionals.
Why Does Medvedev Not Have A Country By His Name?
Medvedev is without a country designation as he is Russian. Following the invasion of Ukraine by Russia, the International Tennis Federation (ITF) implemented a ban preventing athletes from Russia and Belarus from competing under their country’s name or flag.