Thursday, October 1, 2009
Woods named sport's first billionaire
Tiger Woods has broken through the billion-dollar earnings barrier, Forbes magazine says.
Tiger Woods has become the first sportsman to break through the billion-dollar earnings barrier, Forbes magazine reported on Thursday.
The 33-year-old American, who has won 14 majors, reached the latest landmark of his career when he won a $US10 million ($A11.32 million) bonus for his FedEx Cup victory last weekend.
According to the magazine's calculations, Woods went into the 2009 season on $US895 million ($A1.01 billion) which included prize money, endorsements, appearance fees as well as money earned through his golf course design business.
Even before picking up his end of season bonus, Woods had earned $US10.5 million ($A11.88 million) on the USPGA Tour this year, winning six titles.
Woods has been the top-earning sportsman since 2002 when he took over from former Formula One world champion Michael Schumacher.
His most lucrative commercial deal is with Nike and brings him over $US30 million ($A33.95 million) a year.
Forbes estimated that retired NBA star Michael Jordan will be the next sportsman to earn a billion dollars.
Jordan amassed around $US800 million ($A905.39 million) in his playing career and continues to make $US45 million ($A50.93 million) a year thanks mainly to a deal with Nike.
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