Tiger Woods is a dollar billionaire. But he pays an incredible amount in taxes

Forty-six-year-old golf phenomenon Tiger Woods is only the third person in sports history to become a dollar billionaire. During his career, he has made a lot of money both on and off the course. However, there is another side to the big earnings coin. He pays so much in taxes alone that the vast majority of people don’t even earn.

According to Forbes magazine, the famous golfer has earned approximately $1.7 billion in his career. Currently, his net worth has exceeded one billion dollars. Interestingly, only a tenth of that money was earned directly from tournaments.

Most of his earnings have come from partnerships with more than a dozen brands. He also invested heavily in real estate. His biggest advertising deals have been with Nike and Rolex. It was with the Rolex brand that he signed his first partnership in 2017, it earned him seven million dollars during the five-year contract.

This company did not even abandon him 5 years later, when Tiger was already accompanied by health problems and a series of scandals that forced him to interrupt his rich career several times. Even before that, when he was still at the height of his fame, he was collecting a hundred million dollars a year from contracts.

Until 2012, he was at the top of Forbes magazine’s list of the highest paid athletes, where he stayed continuously for ten years. Even though he played only two tournaments this year where he did not even place in the top ten, he earned a handsome $68 million.

Even before him, basketball players Michael Jordan and LeBron James became dollar billionaires.

A TOUGH TAX ON EARNINGS

When Tiger Woods appeared at the Masters in April, he was playing the tournament after a long year and a half since a fatal car accident in which the little one lost his leg. Yet even with sponsorship deals, he was still, and is, one of the highest-earning athletes in the world.

But big earnings also come with big taxes. With earnings of $60 million for 2021, that’s approximately $23.6 million that the world-famous golfer has to pay in taxes. On a single day, this works out to approximately 65,000 dollars, which is roughly roughly 1.5 million crowns.

According to Bookies, this is the ninth highest tax of any sportsman in the world for 2021. However, the story can be told by such a basketball player LeBron James. He paid as much as $51 million in taxes.

Forbes, GolfExtra