Tiger Woods Will Be World's First Billionaire Athlete

by Jared Paul Stern (RSS feed)
Aug 19th 2008 at 10:02AM

Golf legend Tiger Woods is on track to become the world's first billionaire athlete, a goal he should reach in a few short years at his current rate of income. Woods' career earnings will hit the $1 billion mark by 2010, Forbes reports, but given the taxes and management fees he has to pay, it will take another year for his net worth to catch up.

In 2007 alone, the mag estimates Woods earned $115 million, $65 million more than the second highest paid athlete, David Beckham. While several billionaires over the years have been world-class athletes, none has ever earned their fortune solely from a career playing sports before Woods. Of course, most of his wealth comes from endorsement deals as prize money accounts for only one-tenth of his earnings.

Tags: Billionaires, David Beckham, DavidBeckham, Forbes, Golf, Tiger Woods, TigerWoods

Filed under: Wealth

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Reader Comments (Page 1 of 1)

MC Aug 19th 2008 11:04AM

What about Micheal Schumacher?

JPS Aug 19th 2008 11:17AM

As far as I can see, Schumacher earning a billion was never officially certified - not by Forbes anyway - but he certainly came pretty close. He hasn't earned as much in retirement obviously. I'll check with the magazine to see if they have anything to add.

Bill Aug 19th 2008 12:53PM

Go, Tiger! Go, Tiger!

LC Aug 19th 2008 1:08PM

Micheal Schumacher? Yes I am sure he hit a billion in earnings over life of career as well. But remember guys FORBES is as FEDERAL as FEDERAL express. It's like MTV they pick and choose who they celebrate. And right now, Tiger Woods is good for thee pockets. FORBES is not the end all *blank stare*
Go Tiger (2) & Micheal Schumacher (1)

Bill Aug 20th 2008 9:27AM

Why did you have to include me in your dispute? *middle finger*

Spectacular Bid Aug 20th 2008 4:29PM

I would fully concur that Michael Schumacher is by all accounts worth well in excess of $1B USD. I recall reading that because of his residency in Switzerland his taxes were under $100k USD/year yet was making $80M + with Ferrari plus product endorcements, etc. He continues to rake in huge sums working for Fiat/Ferrari and doesn't spend money on a big entourage like some.

In fact one time Ferrari driver Ulsterman, Eddie Irvine, was listed on The Times "Rich List" just last year being worth over 400 million British pounds . He owns property, clubs, auto franchise, et al.

A few years ago Forbes was touting Michael Jordan as likely going to be the 1st athlete billionaire. That never happened. Divorce, some bad investments, high taxes on that cash rich salary, lavish lifestyle, and an NBA career that didn't go on forever.