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Michael Jordan and LeBron James have a company in the Billionaire Athletes’ Club.
Matt Craig from ForbesTiger Woods has an estimated net worth of $1 billion, thanks in large part to his sponsorship deals with Gatorade, Monster Energy, TaylorMade, Rolex and Nike.
Craig noted that less than 10 percent of Woods’ career earnings and net worth came from prize money on the golf course.
ForbesThe estimation of Woods’ net worth comes at a controversial moment for the sport of golf.
The PGA Tour announced Thursday that it has suspended 17 members playing in the inaugural LIV Golf Invitational Series event in London this weekend.
LIV Golf is funded by the Saudi government. The league is the latest attempt by the Saudi government to sports washing – the practice of using positive coverage from its participation in the sport to improve its public reputation amid accusations of numerous human rights violations.
Twice main winner Greg Norman, CEO of LIV Golf Investments, told Kent Babb of Washington Post That Woods turned down a “amazingly colossal” deal in the “high nine figures” to play with the organization.
Forbes James got into the billionaire club last week. Jordan hit the target six years ago, and his net worth increased to an estimated $1.7 billion in 2022.
James Woods are the only two active athletes with a net worth of at least $1 billion.
Joe Favoretto, a veteran sports business consultant and lecturer at Columbia, told Craig that Woods “has made the right time in the right sport, being an athlete with a diverse and friendly background.”
According to Emmanuel Okpazgi and Tony Manfred of Business Insider, Woods signed a $200 million contract with Nike in 2013. He has been a partner with the popular sports brand since 1996.
According to Sam Dunn of Boardroom.TV, Woods’ business portfolio includes mid-market company investments through his company, TGR Ventures. He also owns and operates a golf course design company and an upscale sports restaurant in Jupiter, Florida.
Woods’ 82 career wins have been tied to Sam Snead’s most in PGA Tour history. The 46-year-old also has 15 major tournament wins, second only to Jack Nicklaus (18).