Tiger Wood’s net worth: $800 million
Tiger Woods has a current net worth of $800 million. He’s made $120 million in PGA Tour prize money, and is the only golfer to ever pass $100 million in earnings. If you combine his endorsements, sponsorship earnings, and brand contracts, his career earnings is over $1.5 billion.
Tiger Woods is arguably the most famous golf player in our current times, and perhaps even of all time. Though many golf buffs could rattle off countless players, Woods is often the only one who has become a recognizable household name for those who don’t follow the sport.
With this fame and success has certainly come a huge quantity of revenue for him, making him the highest-earning golfer in history, followed closely behind by Arnold Palmer. In fact, according to a Forbes profile done in 2016, Tiger Woods ranked as the second-highest-paid athlete of any sport, beat only by Michael Jordan.
Of course, all this wealth doesn’t just come from tournament earnings, although it certainly contributes; he has garnered over $120 million from on-course work to date. Woods also rakes in millions every year from sponsorships, brand contracts, and endorsement deals, among others. Tiger’s current net worth is estimated to be at about $800 million, but it is reported that he has earned over $1.65 billion throughout his entire career.
Early Life and Career
Tiger Woods first became known as a child golf prodigy. Even at as young as 2, he began appearing on talk shows, demonstrating his incredible prowess and was featured in Golf Digest at the age of 5. In his young adulthood, he won a large number of amateur titles including the NCAA collegiate title and 6 USGA national championships and attended Stanford for 2 years as a college golfer until turning pro in 1996 at the age of 20.
After going professional starting with a debut at the Greater Milwaukee Open, he began collecting wins (and prize money) at an alarming rate. He promptly received a 40 million dollar contract from Nike, along with plenty of new gear to show off at every match.
In 1997, only one year after going pro, Woods shot to major stardom when he won his first Masters Tournament 12 strokes ahead of his opponent, Tom Kite, and received $486,000 in prize money. This victory made him the youngest player to ever win a Masters, as well as the first African American to ever do so. According to Sportsnet, he even broke the previous tournament score record which had been held since 1965.
20 years later in 2017, to commemorate the anniversary of his win, Woods co-authored a book with Lorne Rubenstein called The 1997 Masters: My Story. Woods is assumed to have made a bit of extra revenue from the book, but how much exactly is not known; it made the #15 spot on the New York Times bestseller list for hardcover nonfiction.
Further Paid Endorsements
Around this time, Tiger Woods began signing more paying contracts and endorsement deals, including one for 5 years with Titleist (a golf equipment brand) reportedly for $20 million, and a 5 year deal with American Express as a spokesperson for ads and commercials supposedly for $13 million with $5 million upfront.
Other brands to eventually offer him high-paying contracts were Buick, AT&T, Gillette, Tag Heuer, and General Motors. Woods also signed up to be a partner of All-Star Cafe, a sports-themed restaurant that was being developed at the time by Planet Hollywood International, joining with other athletes the likes of Shaquille O’Neal, Andre Agassi, and Wayne Gretsky to pull in a bit of extra income.
With Tag Heuer, Tiger Woods worked to develop the first professional golf watch in the world. Designed to withstand up to 5,000 Gs of force and equipped with several features beneficial to any golfer, the watch went on to win an iF product design award. Woods also began to endorse the Tiger Woods PGA Tour video games created by Electronic Arts in 1999.
The Love of the Game
Even with the cash pouring in from all sides, Woods spoke out at the time about how the money he earned from the actual game was the most cherished for him. According to Money.com, he said, “All the other stuff, […] it doesn’t really make me as happy as what I earn through blood, sweat, and tears on the golf course. That money, I have the sole responsibility for earning that.”
As Woods’ successes continued to grow along with his popularity, Nike extended his contract for 5 more years, worth a staggering $105 million, the largest endorsement seen by any athlete at that time. His continued partnership with Nike is supposed to have had a significant hand in spurring the growth of Nike Golf, propelling it to one of the leading golf apparel and equipment brands in the world.
Woods continued to showcase the Nike brand to the world during matches, with the famous Nike “swoosh” emblazoned on his hats, clothes, shoes, and even clubs.
A Thirsty Tiger
In 2007, Gatorade offered Woods a licensing agreement for $100 million, part of which included a launch of his own drink, called “Gatorade Tiger.” In 2013, Woods once again renewed his long-standing contract with Nike for a cool $200 million- his biggest contract amount up till that point.
Around that time, Golf Digest was claiming figures that showed Tiger Woods made about 88% of his overall wealth intake from sponsorships.
At his peak, Tiger Woods was making over 100 million in endorsement deals every year, though it has since fallen. Currently, his sponsors include Monster Energy, Bridgestone Golf, Kowa, GOLFTV, and Upper Deck, as well as the ever-lasting Nike.
Further Career Highlights
As his brand deals rocketed him even further into fame and recognition, his constantly-improving golf game solidified his standing as one of the best golfers in the world, and accumulated him even more prize winnings.
In the year 2000 at the 100th U.S. Open, Tiger made huge waves by finishing under par with a double digit score on one of the world’s most difficult courses at Pebble Beach- something no golfer had ever done before. Then in the same year at the Open Championship, he broke the record for being the youngest player to win all 4 majors (stealing the previous honor from Jack Nicklaus).
The Tiger Slam
He also achieved something that has never before and never since been accomplished: he won all 4 major golf tournaments consecutively, thereby being the only player to ever hold all 4 of the most recent titles at once, and coining the term, Tiger Slam.
He continued to chase in the footsteps of Nicklaus, catching up with him easily in many ways. With his win of the Open Championship in 2005, Woods became the second golfer after Nicklaus to win all 4 majors twice, and in 2008 with his win in the U.S. Open, he brought that record up to three times.
In 2009 he won the FedEx Cup Playoffs for the second time, even though it had only existed for a total of 3 years, bringing home $10 million in bonus money. To date, he has won 82 PGA Tour events, 41 European Tour events, and 15 majors.
Scandal in his Personal Life
In the late 2000s, Tiger Woods was at the top of his game when news broke out of extramarital affairs. What started with a piece published by the National Inquirer about an affair with a woman named Rachel Uchitel, transformed into something even more strange.
On November 27, 2009, two days after the news article, Woods crashed his SUV into a fire hydrant and a tree just a few meters away from his house. He was unconscious with minor injuries, and his wife, Elin Nordegren, smashed one of the windows with a golf club in what she claims was an attempt to get him out of the car.
The Truth Comes Out
A rapid chain of events began to unfold. Woods was briefly hospitalized for his injuries, dropped out of the Chevron World Challenge event on November 30, and gave excuses to avoid talking to police after the accident. On December 2, another exposé came out, this time by U.S. Weekly, in which a woman named Jaimee Grubbs declared that she had had an affair with Woods for 31 months, and insisting she had text messages as proof to back it up.
Only 3 hours later, Woods published a message on his website, apologizing for “transgressions” that he regretted “with all my heart.” It soon unfurled that Woods had had several affairs with many women. His fans and the public were scandalized as the media story blew up and threw a gigantic wrench in his high-sailing career.
One by one, all of the corporations that were sponsoring Tiger dropped or discontinued their contracts. Gatorade first announced that they would no longer be selling the Gatorade Tiger drink, followed by Gillette who then phased the athlete out of their partnership.
Accenture and AT&T then cut ties with the golfer, stating that he was no longer the right representative for their brands. Tag Heuer initially stated that it would continue its deal with him, but dropped him from advertising, and did not renew his contract in 2011. Electronic Arts as well affirmed they would still back Woods, but eventually ended things after 15 years of working together.
The only brand who continually stuck by Tiger Woods and still continues to do so is Nike, who has partnered with him throughout his entire career.
While Woods had announced through his website that he was going to be taking a break from golf to work on saving his marriage, it seems the effort was not successful as things eventually ended between him and his wife. According to Forbes, they divorced in August of 2010, and he paid a $100 million divorce settlement to Elin.
Tiger Woods’ Assets
Despite losing a large quantity of revenue from his divorce and loss of endorsements, Tiger Woods still had plenty of wealth settled in other types of assets. At the time of his divorce, he owned a $40 million estate in Florida as well as a piece of land on a golf course in Wyoming worth about $4 million. After his divorce, he spent $54 million building his dream home on the estate including 4 pools, a tennis court, and a practice golf course.
Woods also owns a private jet (a Gulfstream G550 worth $54 million) and a yacht named Privacy that he bought for $20 million back in 2004. He still uses the yacht and has most recently docked it off of Long Island during the U.S. Open in 2019.
Among the cars that Tiger Woods reportedly owns are a Porsche Carrera GT (valued at $450,000) and a Lamborghini Murcielago (also valued at about $450,000).
Extra Forms of Income
Although his career took a bit of a nosedive after the news surrounding his affairs and car crash, as well as another hit in 2017 when he was arrested for reckless driving under the influence, Tiger Woods has recently made an incredible comeback after his unexpected win at the Masters in 2019, which was his first majors win since 2008, earning him $2.07 million as a prize.
He was also awarded the Presidential Medal of Freedom by President Trump in May 2019. Many speculate that his career will return in full from here on out, and continue to rise.
In the meantime, Woods has been working on several other projects which are still bringing in a salary for him.
Tiger Woods pulls in a big paycheck from designing golf courses with his company, TGR Design, where he leads the firm as head architect. The company began with designs for Bluejack National near Houston and has since completed other courses spanning the U.S. and the world such as in Mexico, The Bahamas, and Dubai. His latest project will be designing the North Course at Makaka Valley Resort in Oahu, Hawaii.
However, TGR Design is actually part of a bigger enterprise simply called TGR (Tiger Wood Ventures). Under this larger umbrella is also the TGR Foundation, the “philanthropic arm” of the company, as well as TGR Live which manages and produces live charity events for the TGR Foundation, and The Woods Jupiter, a restaurant started by Tiger in Jupiter, Florida, which claims to offer a “legendary sports bar experience.”
Woods is also reported to have a PGA Tour pension plan worth an estimated $20 million. MarketWatch informed that professional golf pension plans are quite high- more than 600 golfers have over $1 million in their retirement account, but of course Tiger Woods’ savings stands far and above the rest.
His Own Documentary
Finally, Golf Digest recently reported that HBO is planning to release a Tiger Woods documentary, thought to hopefully coincide with the Masters in November, and sure to bring in even more revenue for the ultra-famous player.
Whatever the future brings for Tiger Woods, it seems assured that he will continue raking in millions every year and expanding his brand, forever cementing his place in the history books.