Tiger Woods is now a billionaire, according to Forbes magazine

Tiger Woods has officially reached billionaire status.

Forbes It is reported that Woods’ net worth has crossed $1 billion thanks to sponsorship deals with Nike, Gatorade, Monster Energy, TaylorMade and Rolex. He now joins Michael Jordan and LeBron James as the only well-known sports billionaires.

“[He’s] He was very skilled at taking on parts of the business, in creating their own businesses, in ways that athletes had not before,” said sports agent Lee Steinberg. Forbes.

Over the course of his 27-year career, Woods has earned $1.7 billion in salary, endorsements, and other income. However, less than 10% of Woods’ career earnings and net worth come from prize money on the golf course.

Veteran sports business consultant Joe Favoretto explained: Forbes. “Brands love to know that they’re getting someone who is embraced not only by traditional fans but also by casual fans.”

Aside from the major brands that have endorsed Woods, the 47-year-old company’s portfolio includes golf design businesses (TGR Design), events company (TGR Live), TGR Ventures, and restaurant (The Woods).

News arrives just days after Woods announced his plans to withdraw from the upcoming US Open. He plans to rest as he prepares to play in the British Open next month.

“I have previously notified the American Golf Association that I will not compete in usopengolf because my body needs more time to get stronger for major golf tournaments,” he wrote on Twitter. “I hope and plan to be ready to play in Ireland at @JPProAm and at @TheOpen next month. I am excited to be back there soon!”

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