How billionaire Woods boosted fortune through endorsements

Tiger Woods, 46, has been the face of golf for years, with millions of fans and a legacy within the sport that is unrivalled, reports Christian Abbot of dailystar.co.uk.

His success in the green is just as impressive, as the June 10 report by Forbes has confirmed his net worth has tipped over into the billions.

[FILES] Tiger Woods

To outsiders looking into the world of golf, Tiger is, perhaps, the only recognisable thing.

He has transcended the sport and become an international icon in his own right across the sporting world and entertainment.

According to Forbes June 10 report, Tiger earned a gross total of $1.7 (£1.44) billion before taxes and agent fees over the course of his storied 27-year-long career.

He is the third athlete to reach the billionaire’s club, following in the footsteps of NBA icons, Michael Jordan and LeBron James, respectively.

Shockingly, less than 10 per cent of his net worth actually comes from golf, with the vast bulk of his fortune thanks to brand deals.

Even though less than 10 per cent of his money comes from golf, Virtual Reality he still earned an impressive amount from it.

He was the highest-paid athlete until 2012, winning a total of $121 (£102) million in prize money from 82 PGA Tours.

He made more than $100 (£84.5) million a year between 2003 and 2011.

However, it is endorsements with brands such as Gatorade, Rolex, Nike and Monster Energy that have brought in the vast amount of his wealth.

According to the Forbes report, he actually turned down a Live Sports ‘high nine digits’ deal to play on the new Saudi-backed golf tour.

Sports business consultant and Columbia University lecturer Joe Favorito, told Forbes: Online Casino “He hit the right time in the right sport, being an athlete with a diverse background who was approachable.

“Brands love knowing they’re getting someone who is embraced not just by the traditional but also by the casual fans.”

Woods has also made a series of key investments such as clubs and resorts group, NEXUS Luxury Collection.