Tiger Woods: has earned $1.4 billion since 1996
Tiger Woods has earned a total of $1.4 billion since turning pro in 1996. No other golfer has earned as much. And with his shocking return to form last April to win Augusta Masters, there is all likelihood he will set even more earning records.
Woods is now sitting on an estimated $800 million net worth, Business Insider reported on Tuesday.
Here is an analysis of how the richest golfer in history makes and spends his millions, according to the newspaper:
Tiger Woods leads his sport in career prize winnings with an estimated total of $122.5 million. The 2019 Tour Championship earned Woods one of his biggest paydays, with $4.6 million.
But Woods makes most of his money outside of competition. The bulk of his income is from endorsement deals.
During the peak of Woods’ golfing career, he made $100 million annually off the course. A multiyear deal with Bridgestone Golf to play exclusively with its golf balls is estimated to be worth $1 million to $2 million a year. For his clubs, Woods has signed with TaylorMade for an undisclosed amount, and his signature irons are now available for $2,000. His previous club deal with Nike was worth about $11 million per year.
Woods also has endorsement deals for undisclosed amounts with Rolex and sports-card maker Upper Deck. The star also reportedly brings in $2 million a year from his deal with Monster Beverage.
But it’s not all sponsorships and competition. Another major moneymaker is Woods’ golf-course design work. He opened his first US course in Houston in 2015 and has designed 10 courses so far, including a golf course for the Trump World Golf Club in Dubai, which is still in development.
His apparel, however, flaunts the logo of his most loyal sponsor, Nike. Woods has been sponsored by Nike for the entirety of his professional career. They stuck with him through all the scandals when many others dropped him. In addition to lost endorsements, Woods’ 2010 divorce settlement was reported to have cost him $100 million, about one-sixth of his fortune at the time. It’s estimated that his Nike deal has been worth up to $20 million per year, likely varying based on performance. With so many eyes on Woods and his comeback, more lucrative deals may be heading his way.
But it’s not all sponsorships and competition. Another major moneymaker is Woods’ golf-course design work. He opened his first US course in Houston in 2015 and has designed 10 courses so far, including a golf course for the Trump World Golf Club in Dubai, which is still in development.
The partnership isn’t surprising, considering that Trump and Woods have occasionally played golf together and that in 2019 Woods was awarded the Presidential Medal of Freedom by Trump.
Woods also has his own restaurant. He reportedly invested about $8 million of his own money into building The Woods Jupiter.
How Woods spends his money:
For one, Woods likes to travel in style. He bought a 155-foot yacht named Privacy for $20 million in 2004. Woods also owns a Gulfstream G550 private jet, which is worth about $54 million. He reportedly flew commercial for the first time in 10 years in 2017. When he isn’t traveling, Woods is at his $55 million home in Jupiter, Florida. The 10-acre estate was built from scratch for Woods and features a pitch-and-putt golf course, as well as a private dock.
And golf isn’t the only sport Woods enjoys. He’s a diehard Raiders fan. He’s shown off his Raiders pool table online and often attends games. Spearfishing is another passion of his. In 2002, Woods even called in sick to his only tune-up tournament before the British Open so that he could go spearfishing.
And he’s also a gamer. During an interview with Stephen Colbert in 2016, Woods shared that he played “Call of Duty” eight hours a day while recovering from back surgery.
Woods also works with kids through his charity for at-risk youth, the Tiger Woods Foundation. Over the years, Woods has reportedly donated $12 million to the foundation. He also works with the TGR Learning Lab to provide opportunities for students to explore different passions through science.
Culled from Business Insider
