Tiger Woods just reached a historic financial mark. According to Forbes, the golf superstar has a net worth of at least $1 billion, which would make him one of only three athlete billionaires in the world. Woods, who has won 15 major championships in his career, joins Michael Jordan and LeBron James as the only athlete billionaires in the world. James reached that mark last week.
As great as Woods has been on the golf course, less than 10% of his earnings have come from playing the sport. Over the years, Woods has gained sponsorship and endorsement deals through Nike, TaylorMade, Gatorade and Monster Energy, those brands have been big contributors to his earnings. Additionally, Woods owns TRG Design, TGR Live and TRG Ventures, which makes him more than just an athlete.
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“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 told Forbes. “Brands love knowing they’re getting someone who is embraced not just by the traditional but also by the casual fans.”
Woods’ net worth would have grown more had he made one big move. It was recently reported that Woods rejected a $1 billion offer to play for LIV Golf. In May, Woods told reporters that he’s committed to the PGA Championship. “You know, [Phil Mickelson] has his opinion on where he sees the game of golf going. I have my viewpoint on how I see the game of golf, and I’ve supported the tour and my foundation has run events on the tour for a number of years,” Woods said at Southern Hills, per Golf Digest. “I just think that what Jack [Nicklaus] and Arnold [Palmer] have done in starting the tour and breaking away from the PGA of America and creating our tour in ’68 or ’69, somewhere in there, I just think there’s a legacy to that.
“I’ve been playing out here for a couple of years over decades, and I think there’s a legacy to it. I still think that the tour has so much to offer, so much opportunity. … I understand different viewpoints, but I believe in legacies; I believe in major championships; I believe in big events, comparisons to historical figures of the past. There’s plenty of money out here. The tour is growing. But it’s just like any other sport. It’s like tennis. You have to go out there and earn it.”
