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TIGER WOODS: How the $740 million golfer makes and spends his money
TIGER WOODS: How the $740 million golfer makes and spends his money
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Tiger Woods was arrested early Monday morning in Florida and charged with driving under the influence.
This isn’t the first time Woods has been embroiled in a scandal. His career was derailed by his affairs and subsequent divorce from his wife, and his return to golf has been marred by injuries.
But despite this, Woods is still worth an estimated $740 million and is one of the highest-paid athletes of all time. He still has plenty of cash to spend on yachts, private jets, and custom megamansions.
Take a look at how he spends it all, below.
Tony Manfred contributed reporting to a previous version of this article.
Tiger Woods has made more than $1.4 billion since turning pro in 1996.
Source: Golf Digest and Forbes
More than $110 million of that came from on-course winnings. He’s No. 1 on the all-time money list, by far.
Source: PGA
But the real money comes from off the course. At his peak in the late 2000s, Woods made $100 million annually off the course. In 2016, he earned more than $45 million in endorsement deals and course-design fees.
Source: Forbes
Woods has been with Nike since he turned pro in 1996. In 2013 he signed a $200 million deal with the brand. This week, Nike confirmed that it will stick with Woods despite his DUI charges.
Source: ESPN, ABC, and Business Insider
He was ranked the 12th highest-paid athlete by Forbes in 2016 and has an estimated net worth of $740 million.
Source: Forbes
Woods has hit other bumps in the road. In 2009, news broke that Woods had been cheating on his wife, Elin Nordegren. Two days later, he crashed his car into a fire hydrant outside his house.
Source: Yahoo Sports
He was accused of having an affair with Rachel Uchitel, a New York nightclub manager. Months later, several other women came forward claiming they had affairs with Woods.
Many of Woods’ endorsement partners dropped him over the controversy. This included companies like AT&T, Gatorade, Gillette, Golf Digest, and Tag Heuer. His biggest partner, Nike, stuck with him.
The divorce settlement cost him a reported $100 million in 2010.
Source: Forbes
And his golfing career started to turn sour. Woods hasn’t won a major golf championship since 2008 and has not had a tour win since 2013.
Source: Time
He has also been battling various injuries. When Woods was arrested for DUI, he claimed it was due to an “unexpected reaction to prescribed medications.” Woods recently had a fourth surgery on his back.
Source: Business Insider
Despite these problems, Woods continues to live a lavish lifestyle. After the divorce settlement, he reportedly considered selling his 155-foot long megayacht, “Privacy,” for $25 million. However, the boat was not sold, and Woods now docks it in North Palm Beach, Florida.
Source: WSJ
Golf isn’t his only passion. Woods is really into spearfishing. He learned how to free dive so that he could spearfish without an air tank.
Source: Business Insider
He owns a 10-acre property in Jupiter, Florida, which he built from scratch for $55 million.
Source: Palm Beach Post
It has a pitch-and-putt golf course, as well as a private dock.
Source: Palm Beach Post
He even has his own restaurant in Jupiter. “After years of meals on the road, he decided to bring his vision of an elevated sports bar to life at home in Jupiter,” the website says.
Source: The Woods Jupiter
Even when he isn’t at home in Jupiter, he likes to bring a little bit of it with him. Woods reportedly replaces all of the furniture in the houses he rents during tournaments with his own, even if he’s only there for a few days.
Source: Business Insider
He likes to travel in style and owns a Gulfstream G550 private jet, worth about $54 million.
In January, for the first time in 10 years, Woods took a commercial flight from LA to Dubai.
Source: Architectural Digest and Golfweek
He devotes a ton of time and money to his at-risk youth charity, the Tiger Woods Foundation. In 2012, he gave $12 million to the foundation.
Source: PGA
Woods doesn’t just rely on his golf winnings and endorsements to fund his extravagant lifestyle. He also runs a golf design business. He opened his first US course in Houston in 2015 and is currently designing a Trump International Golf Club course in Dubai.
Source: USA Today
He’s even partnered up with President Donald Trump. At the end of 2016, the two played at Trump International Golf Club in West Palm Beach in Florida. Woods told CNN that he was impressed by Trump’s golfing. “What most impressed me was how far he hits the ball at 70 years old,” he said.
Woods has played with Barack Obama, George Bush, and Bill Clinton in the past.
Source: CNN
Read more stories on Business Insider, Malaysian edition of the world’s fastest-growing business and technology news website.
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