Woods worth $1 billion, 7th on rich list: Forbes

Tiger Woods of the United States hits his tee shot on the 11th hole during the final round of the Hero World Challenge at Albany, The Bahamas on Dec 4, 2016.
Tiger Woods of the United States hits his tee shot on the 11th hole during the final round of the Hero World Challenge at Albany, The Bahamas on Dec 4, 2016. PHOTO: AFP

NEW YORK • Golfers Tiger Woods and Phil Mickelson and former National Basketball Association superstar Michael Jordan are among the 20 wealthiest American celebrities, Forbes reported on Wednesday.

Woods, 40, is the youngest on the Forbes top-20 list, with a net worth estimated at US$740 million (S$1.07 billion).

The 14-time Major champion, who trails only Jack Nicklaus (18) on the all-time list, recently launched a competitive comeback after being sidelined for more than 15 months while recovering from back surgery.

Woods, who went through a costly divorce in 2010 and lost several sponsors after revelations of multiple infidelity, is seventh on the list.

Mickelson is 18th, with an estimated worth of US$375 million.

Jordan, 53, who retired in 2003 with the mantle of arguably the greatest basketball player, is worth US$1.2 billion.

He is fourth on the list, which is topped by filmmaker George Lucas (US$4.6 billion).

Forbes says eligibility for the list was limited to United States citizens who are rich because of their fame, rather than famous because they are rich.

According to the business magazine, President-elect Donald Trump belongs in the latter category.

It noted that Woods has earned US$1.4 billion from prize money, endorsements and fees from appearances and golf-course designs since turning professional in 1996.

It is more than any athlete in the history of sport but less than 10 per cent of Woods' tally is from prize money, with sponsorships his main source of revenue.

The golfer also banked more than US$100 million annually off the course at his peak in the late 2000s, when he was the most sought-after endorser in sport.

He was the highest-paid athlete in the world for 11 straight years.

Since his infamous 2009 Thanksgiving evening car crash and the resulting sex scandal, Woods' income has dropped.

But he still managed to bank US$45 million from endorsements and course-design fees in the 12 months ending in June this year.

He ranked No. 12 among the world's highest-paid athletes in 2016 despite being sidelined from golf as he recovered from back surgery.

REUTERS

A version of this article appeared in the print edition of The Straits Times on December 30, 2016, with the headline 'Woods worth $1 billion, 7th on rich list: Forbes'. Print Edition | Subscribe