Tiger Woods ranks No. 26 on our inaugural list of the top 40 richest entrepreneurs under the age of 40. He is the only athlete to make the cut. Here’s a quick look at the reasons why.
Name: Tiger Woods
Net worth: $700 million
Age: 39 (Woods turns 40 on Dec. 30)
Woods has earned $1.35 billion since turning pro in 1996 with barely 10% of the total derived from prize money on the golf course. The bulk of Woods’ fortune was generated from endorsements with the likes of Accenture , AT&T T +0.00%, Buick, Gatorade , Nike NKE +5.18%. All of those blue-chip brands have left Woods, but Nike who has stuck by the 14-time Majors winner and pays him more than $20 million a year. Nike built a $711 million-in-sales golf division on the back of Woods. Woods other current partners include Hero MotoCorp, Kowa, MusclePharm, Rolex and Upper Deck.
In addition to his sponsor haul, Woods has a wildly lucrative pension thanks to the PGA Tour’s generous retirement plan. Woods’ net worth did take a hit with his $100 million divorce in 2010 from Elin Nordegren.
Woods’ march to billionaire-status continues.
The first Woods-designed golf course opened last year in Cabo San Lucas, Mexico after proposed courses in Dubai and North Carolina blew up after the financial crisis. Injuries have hampered Woods the last two years and he is currently sidelined after back surgery in September. His annual earnings are down more than 50% since they peaked at $115 million in 2008.
(Forbes)
