Tiger Woods, probably the greatest athlete to ever live and one of the best golfers in history, has entered a select group of sports millionaires.
What You Should Know: According to Forbes, Woods' net worth has reportedly surpassed $1 billion, making him one of only three athletes to ever achieve billionaire status.Although Woods has won 82 times on the PGA Tour, including 15 major championships, the estimate is based on his lifetime earnings. However, the vast majority of Woods' fortune comes from endorsement deals, most notably with Nike Inc. (NYSE: NKE).
Rolex and Gatorade, both owned by PepsiCo Inc., are two further well-known sponsors (NASDAQ: PEP). Following a nearly two-year absence from the tour due to two back operations, Woods also secured equipment sponsorship deals with TaylorMade and Bridgestone Golf.
TGR Design and "The Woods," a restaurant in Jupiter, Florida, are two of Woods' other businesses. The well-known golfer has increased his net worth by funding a number of businesses in the golf industry.
But for Woods, winning has never been about the money. Throughout his career, he has improved golf tremendously by making seemingly impossible shots and showing his emotions through his (Sunday red) sleeve. Woods' wizard-like touch on the greens was frequently accompanied by roars that could be heard all over the course.
Woods rejected a tremendously expensive offer from the LIV Golf tour just a few months ago. According to reports, CEO Greg Norman described the offer as being for a "mind-blowing sum" in the "high nine digits."Woods probably declined a deal that would have nearly doubled his wealth. In an interview with the media prior to the 150th Open Championship in July, he discussed the new golf tour.
What these guys are doing, according to Woods, is for guaranteed pay. "What motivates people to practice? What motivates someone to go out and work in the mud? Simply put, you're taking part in a few activities and receiving a sizable payment up front."
The 10-Digit Club: Woods has become the first billionaire athlete in a sport other than basketball, as well as the first billionaire athlete overall. LeBron James, a contemporary NBA star, and NBA great Michael Jordan are the only other two sportsmen on the list.
According to estimations from Forbes, Jordan, who is frequently regarded as the greatest NBA player of all time, has a current net worth of $1.7 billion.
As a special advisor to the board of the sports betting startup DraftKings Inc (NASDAQ: DKNG), Jordan joined in 2020.
His ownership of the Charlotte Hornets is responsible for the majority of his net worth. According to ESPN, Jordan paid $275 million for the then-Charlotte Bobcats in 2010. The current projected market worth of the NBA team is $1.58 billion.
One of the most well-liked NBA players is the superstar James of the Lakers. James became the first active NBA player to become a billionaire, according to Forbes, with a current net worth somewhere around $1 billion.
James reportedly received a pre-tax salary of more than $385 million while playing for the Los Angeles Lakers, Miami Heat, and Cleveland Cavaliers. But most of his fortune has come from endorsement deals with well-known businesses like Nike, Coca-Cola Co (NYSE: KO), and Walmart Inc. (NYSE: WMT).
The rarefied air they enjoy now is a result of the athletes' off-court or off-course accomplishments, but the opportunities were made possible by their dedication and skill on the court or in the ropes. None of the three sports legends appear to be stopping at the billionaire threshold.
No matter how good you get, you can always improve, as "Tiger" says.
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