Answer
In 1894, Wilhelm Steinitz lost his title to Emanuel Lasker. Lasker had been a student of Steinitz, and had been considered the favorite to win the match. The match was held in New York City, and Lasker won by a score of 10-5. Lasker went on to hold the title for 27 years, until he was defeated by José Raúl Capablanca in 1921.