In 2010, Tiger Woods' career earnings will reach the $1 billion mark, making him the first billionaire athlete. However, since Tiger Woods has such hefty taxes and management fees, he won't actually be a billionaire for another year or so.
According to Forbes, prize money from golfing only accounts for about one-tenth of his earnings. The rest comes from his prior and current endorsement deals from Nike, Tag Heuer, Gilette, Gatorade, Buick and Titleist.
Woods wouldn't be the first world-class athlete to become a billionaire. He would, however, be the first whose career has only involved playing a sport.
Billionaire Athletes
Tiger Woods on Track for 2011
Trend Themes
1. Billionaire Athletes - The rise of athletes reaching billionaire status through endorsement deals and career earnings.
2. Celebrity Endorsements - The increasing importance of endorsement deals for athletes in generating significant income beyond prize money.
3. Sports Business - Exploring the lucrative opportunities and financial potential within the sports industry.
Industry Implications
1. Sports Marketing - Leveraging the popularity and influence of athletes to create successful marketing campaigns.
2. Athletic Apparel - Capitalizing on the demand for sports-related merchandise and clothing, fueled by endorsements from billionaire athletes.
3. Investment Management - Providing specialized financial services to high-earning athletes to maximize and preserve their wealth.