Tiger Woods is an American professional golfer. His numerous golf records and major championships have ranked him as one of the greatest golfers of all time. On 9 March 2022, Tiger Woods will be honored as a member of the World Golf Hall of Fame.
Being the winner of 109 professional games, “Is Tiger Woods a billionaire?” has become a widely asked question on the internet.
Well, the answer to the question is “No” Tiger Woods is not a billionaire. Although Tiger Woods became the first-ever athlete to earn $1 billion, his net value is estimated at around $800 million. Currently, he has $121 million as career earnings so far.
Why is Tiger Woods not a billionaire?
At the age of 34, Tiger Woods became the first-ever athlete to earn $1 billion. But, he is still beneath $1 billion net worth. The main reason probably is the federal tax bracket.
In 2016, Tiger Woods paid $263k as additional tax on single income filings. As Tiger Woods lives in Florida, he does not pay state income tax. But, he is still in the federal tax bracket of 39%.
Due to 39% of the Federal Tax Bracket, Tigers Woods pays more than $510k a year. This tax amount adds up to $108k of his taxable income.
Besides, Tiger Woods pays 37% of his winnings on a PGA tour in federal taxes. Thankfully, state taxes don’t apply to Tiger Woods winning prize money as he lives in Florida. He would have ranked himself as a billionaire athlete if these federal taxes didn’t apply to his winning prize money.
Will Tiger Woods become a billionaire?
By the summer of 2024, Tiger Woods is expected to be the first billionaire among today’s active sports stars.
According to the research by Casumo, Tiger Woods is expected to earn billionaire status in the summer of 2024. Much of that will depend on how quickly he recovers from his multiple leg injuries.
On the PGA Tour, Tiger Woods is the 82 times record holder. He has won the PGA Championship in 1999, 2000, 2006, and 2007. Besides, Woods has won the US Open Championship in 2000, 2005, and 2006.
In endorsements, Nike has remained loyal to Tiger Woods. He is making a huge amount of fortune through his endorsement deals.
Therefore, Tiger Woods is expecting to earn billionaire status within the summer of 2024.
What is Tiger Woods’s net value?
American golfer, Tiger Woods’ estimated net worth is around $800 million.
Being the winner of numerous PGA tours and championships, Tiger Woods makes a huge amount of fortune. Besides, he earns a lot of money from his endorsement deals, especially with Nike.
Tiger Woods currently makes:
- $50-60 million per year
- $4 million per month
- $11400 a day
In the 2021 PNC Championship, Tiger Woods earned $80k prize money. We all know that the US Open Championship offers $2.07 million. Tiger Woods has won three US Open Championships so far.
In 2021, Tiger Woods won $1.35 million from the US Open Championship. On average, Tiger Woods gets paid $588k per tournament.
Besides, Tiger Woods makes a healthy amount from the PGA tour. He has grossed career earnings of $120,851,706 from his PGA Tours so far.
Talking about endorsements, Tiger Woods is associated with —
- Nike
- Bridgestone
- Hero Motors
- Discovery Communications, Inc.
- Rolex
- Monster Energy
- TaylorMade
- Upper Deck
From the circumstance sources, Tiger Woods has grossed his multi-million fortune.
How much does Nike pay Tiger Woods per year?
In 2013, Tiger Woods signed a $200 million worth contract with Nike. In the past, he signed a $100 million worth contract with Nike for three years.
In 2020, Tiger Woods was reported to earn more than $63 million from his endorsement activities. In this regard, a contract with Nike is always recognized as the premium one!
Who is richer, Tiger Woods or Michael Jordan?
Michael Jordan is undoubtedly richer than Tiger Woods. Tiger Woods’s net value is far behind the assets of Michael Jordan. Michael Jordan is the NBA legend of all time.
Who is worth more, Tiger Woods or Lebron James?
Lebron James is richer than Tiger Woods. In comparison with Lebron James, Tiger Woods is just $50 million short. However, Tiger Woods is not richer than Lebron James and Michael Jordan.
Sources
- https://www.thestreet.com/personal-finance/taxes/tax-brackets-14721572 — Tax Brackets: Rates, Definition and how to calculate.
- https://allisonsoares.com/does-prize-money-get-taxed/ — Pro golfers tax issue in states.
- https://www.pgatour.com/stats/stat.014.html — Tiger Woods’ PGA tour stats.
