Tiger Woods is still much richer than you or I, but now less so.
Over the course of his illustrious and dominating golf career, Woods has been rumored to have made over $1 billion. Regardless if that number is accurate, the notion that Woods has amassed a pretty penny over the years isn’t one that should really catch anybody off guard.
What is a bit surprising, however, is his recent decision to endorse a Japanese heat rub.
Kawa Co’s Antiphlogistic Analgetic Vantelin Kowa series of products is no doubt great and all, but it’s a far cry from the Nike, Gillette and Gatorade commercials the American public got used to seeing Woods in, once upon a time. Of course, after Woods’ apocalyptic revelation regarding his multiple, multiple affairs, Gatorade -- along with Accenture and Tag Heuer -- all made it abundantly clear that they wanted absolutely nothing to do with their previously biggest star.
Still, even if Woods had lost some big advertisers from his yearly paycheck, his existing endorsement deals with Nike and Electronic Arts, coupled with his golf winnings and savings should suffice, right? Apparently, not so much.
According to a recent Forbes report, estimates that Woods generated approximately $75 million over the last year are inaccurate. They insist, instead, that he made something in the $20 million ballpark last year. Fortune corroborated the story, noting that one of their sources informed them that Woods’ intake fell by as much 50% in 2010 – from $20 million down to $10 million.
And worse yet, Daniel Roberts (author of the Forbes story) insists that Woods is also down $160 million – a cumulative end result of his alleged $100 million divorce settlement and $54.5 million mortgage on Woods’ Jupiter Island mansion. Reportedly, Woods is required to pay the mortgage off in full by January of 2016, meaning he has five and a half years to get his finances in order and fulfill the debt.
With Woods’ image having taken a serious beating over the last few years, now would be the opportune time to utilize those golf winnings paydays that at one point earned him $11 million in a single season. Only, ever since his public, sex-crazed meltdown, Woods has been a shell of his former self – plummeting down the golf rankings and devolving into a completely unintimidating character on the course.
When it rains it pours. The world has essentially come crumbling down on the man once considered the best golfer in the world over, and the firestorm doesn’t look like it’ll end anytime soon. Financially, personally and professionally the hits keep on coming, and as sad as it is to say, it doesn’t look like Karma is ready to leave Woods alone just yet.