Entertainment
Tiger Woods Is Now Officially A Billionaire
Tiger Woods Is Now Officially A Billionaire, One Of Three Athletes Billionaire
Tiger Woods turned down a “high nine digits” deal to play on the new Saudi-backed golf tour, but no matter. Thanks to endorsements and real estate, he is a billionaire anyway.
Tiger Woods’ labored limp around Southern Hills during last month’s PGA Championship was a harsh reminder of how much time has passed since he stalked the fairways at the 1997 Masters en route to his first green jacket.
Triumph, injury, scandal, failure and triumph again have filled the intervening years. But through it all, the 46-year-old Woods has maintained his supremacy as one of the top-earning athletes in the world, raking in over $1.7 billion in salary, endorsements and other income over the course of his 27-year career—more than anyone else Forbes has tracked.
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Forbes now estimates his net worth to be at least $1 billion, based on his lifetime earnings, making him one of just three known athlete billionaires. The others are NBA superstar LeBron James, who has leveraged his fame and fortune by taking equity stakes in a number of businesses, and Michael Jordan, who hit ten digits after he retired, thanks to a well-timed investment in the NBA’s Charlotte Hornets.
Woods has reached that rarified air despite reportedly turning down a “mind-blowingly enormous” offer from the new Saudi-backed LIV Golf tour, a deal that LIV CEO Greg Norman told the Washington Post would’ve been in the “high nine digits.”
Yet to this point, less than 10% of Woods’ career earnings, and net worth, comes from golf winnings. The bulk of his fortune comes from enormous endorsement deals with more than a dozen brands, including Gatorade, Monster Energy, TaylorMade, Rolex and Nike, with whom he signed in 1996 and which remains his biggest backer.
“He hit the right time in the right sport, being an athlete with a diverse background who was approachable,” veteran sports business consultant and Columbia lecturer Joe Favorito says. “Brands love knowing they’re getting someone who is embraced not just by the traditional but also by the casual fans.”
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