Tiger Woods’ labored limp around Southern Hills during last month’s PGA Championship was a stark reminder of how much time has passed since he stalked the fairways en route to his first green jacket at the 1997 Masters.
The intervening years have been filled with triumph, injury, scandal, failure, and triumph again. Throughout it all, Woods, 46, has maintained his position as one of the world’s highest-paid athletes, earning more than $1.7 billion in salary, endorsements, and other income over the course of his 27-year career—more than anyone else Forbes has tracked.
Tiger Woods became only the third billionaire athlete in the history of contemporary sports — and the first non-basketball player — this week.
TIger Woods turns down offer to join Saudi-backed Golf League LIV
Greg Norman, a golf great, is one of numerous former PGA Tour professionals who have joined the LIV Golf Tour. While Sergio Garcia and Phil Mickelson are among those in the group, Tiger Woods, probably golf’s biggest celebrity, is not among them. And, according to a recent discussion between Norman and the Washington Post, it’s not because LIV Golf went to great lengths to persuade Woods to go.
LIV Golf is backed by Saudi Arabia’s Public Investment Fund. As a result, it comes with a lot of political baggage that has already sparked a lot of debate. Norman has been accused of downplaying the Saudi government’s alleged complicity in the assassination of journalist Jamal Khashoggi, claiming that he would rather concentrate on golf.
LIV has been obliged to write some rather hefty checks to recruit great talent, possibly as a result of this incident. Dustin Johnson was offered $125 million to retire from the PGA Tour this week, according to reports. What about Phil Mickelson? He was valued at $200 million.
We don’t know if Woods’ refusal to play for LIV is due to political considerations, but if Norman’s statements are correct, it is not because to a lack of funds. According to “the Shark,” Woods turned down LIV’s offer because it was “mind-blowingly enormous:
Tiger Woods, on the other hand, has made multiple public remarks reiterating his commitment to the PGA Tour, so no amount of money, even a mind-bogglingly large nine-figure agreement, could persuade him to leave and contribute his talents and star power to the LIV Tour.
Norman is a public spokesperson for LIV Golf, and he believes that significant paydays will continue to attract elite players to the circuit. He even accuses the game’s executives, agents, and other power brokers of “conspiring against LIV to safeguard an outmoded system that hinders golfers from discovering their own power and worth in the midst of a global wave of athlete empowerment.”
Tiger Woods Net Worth 2022
Based on his lifetime earnings, Forbes estimates his net worth to be at least $1 billion, making him one of only three known athlete billionaires. The other two are NBA superstar LeBron James, who has used his celebrity and money to invest in a variety of enterprises, and Michael Jordan, who made a ten-figure fortune after retiring owing to a well-timed investment in the NBA’s Charlotte Hornets.
Despite this, golf winnings account for less than 10% of Woods’ career earnings and net worth. The majority of his wealth comes from multibillion-dollar endorsement deals with more than a dozen companies, including Gatorade, Monster Energy, TaylorMade, Rolex, and Nike, with whom he joined in 1996 and remains his most ardent supporter.
Joe Favorito, an experienced sports business consultant and Columbia lecturer, says, “He hit the perfect time in the right sport, being an athlete with a broad background who was approachable.” “Brands love knowing they’re getting someone who will be embraced by both conventional and casual followers.”
Woods has utilized his celebrity and wealth to launch a golf design company (TGR Design), a live events production company (TGR Live), and a restaurant (The Woods). Woods has invested in Full Swing, a golf technology training tool; Heard, a hospitality software firm; and PopStroke, a luxury mini-golf experience with four sites in Florida and plans to launch a half-dozen more throughout the country in 2022, all through TGR Ventures. Woods is also a partner in a SPAC announced in January, and he is an investor in NEXUS Luxury Collection, a series of clubs and resorts, alongside British billionaire Joe Lewis’ Tavistock Group, golfing adversary Ernie Els, and Justin Timberlake.