Sofia Kenin of the U.S. and Garbine Muguruza of Spain will play for the 2020 Australian Open women's title on Saturday, Feb. 1 at Melbourne Park.
On the men's side of the draw, Serbian Novak Djokovic is through to the final round after cruising past Roger Federer in a decisive, three-set win on Thursday. He'll face either Dominic Thiem or Alexander Zverev, who play their semifinal match on Friday.
Both the men's and women's champions will collect a $4.12 million AUD check, or about $2.8 million USD. The runner-up will earn half that amount: $2.065 million AUD ($1.4 million USD).
If Zverev makes it past Thiem and then Djokovic in the final, he has pledged to donate all of his prize money to help victims of the Australia wildfires. He's already donated $10,000 for every match he's won so far at the Grand Slam.
The Australian Open is handing out a total of $71 million AUD ($48 million USD), a 14% increase from 2019 and a record high for the tournament.
It's not just the champions who will take home sizable paychecks. Players who made it into the main draw earned $90,000 AUD ($60,793 USD) just for competing in the first round.
Here's the full breakdown of how much money all of the singles competitors will earn at the first Grand Slam of 2020.
Champion: $4.12 million AUD ($2.78 million USD)
Runner-up: $2.065 million AUD ($1.39 million USD)
Semifinal: $1.04 million AUD ($702,497 USD)
Quarterfinal: $525,000 AUD ($354,626 USD)
Round 4: $300,000 AUD ($202,643 USD)
Round 3: $180,000 AUD ($121,586 USD)
Round 2: $128,000 AUD ($86,461 USD)
Round 1: $90,000 AUD ($60,793 USD)
CNBC Make It converted AUD to USD using the OANDA conversion rate of 1 AUD to 0.67548 USD on January 30, 2020.
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