Today, Tiger Woods joined Michael Jordan and LeBron James on the list of billionaire athletes.
These three are, arguably, the three greatest to ever play their respective sports and are the only three known athletes to reach billionaire status.
And they’re Black.
Tiger’s journey to billionaire was marred by injury and personal strife, moments that robbed him of success and fortune.
But Woods persevered and has now joined his Nike brethren on this elite list that all other athletes are looking up to.
According to Forbes, Tiger has earned over $1.7 billion in salary, endorsements and other income over the course of his 27-career.
That’s “more than anyone else Forbes has tracked.”
But if you understand how Tiger’s dominance on the golf course translated to media success, this shouldn’t be surprising.
In the early 2000s, if Woods was not in contention at a tournament, ratings would drop by double digits according to former CBS president Neal Pilson.
Full disclosure: I worked in the television planning department for ESPN during this time and can attest to Woods’ impact on our pricing strategy.
Many advertisers wanted to cherry-pick the tournaments he was playing in and only buy commercials in only those events. We refused and made them buy other events along with the events Tiger was competing in.
And we charged a large premium for the events Tiger played in.
In 1996, Tiger Woods won his first two PGA events.
A year later, he won his first green jacket at the 1997 Masters and his dominance continued through 2013.
Tiger’s 82 PGA Tour wins ties him with Sam Snead for most all-time PGA victories.
He also has five Masters victories as well.
Those wins increased his paydays, primarily through sponsorships.
According to Forbes, less than 10% of Tiger’s career earnings, and net worth, are derived from his golf winnings.
His real fortune is amassed from sponsorship deals with brands such as Gatorade, Monster Energy, TaylorMade, Rolex and of course, Nike.
Yet to this point, less than 10% of Woods’ career earnings, and net worth, comes from golf winnings. The bulk of his fortune comes from enormous endorsement deals with more than a dozen brands, including Gatorade, Monster Energy, TaylorMade, Rolex and Nike.
In 1996, Tiger signed a five-year deal with Nike for $40 million. Since then that deal has increased significantly, with his current deal rumored to be over $200 million.
That’s the power of Tiger Woods both on and off the links.
Now he’s joined two of the greatest basketball players in the history of the sport on a list that only those three reside upon.
