Tiger Woods’ net worth after his breakup with Nike

Masters Underway at Augusta National Cheddar Considered one of the world’s all-time greatest athletes, Tiger Woods has won 82 PGA tours and 15 golf championships to date, signing lucrative sponsorships along the way.Mike Ehrmann/Getty Images Mike

Ehrmann/Getty Images Few things in life have been as reliable as watching Tiger Woods playing golf on Sundays, clad in a red shirt with Nike’s familiar swoosh logo. For 27 years, the iconic brand’s partnership with one of the greatest golfers in history minted hundreds of millions of dollars, and eventually, it even catapulted Woods into the ranks of the billion-dollar club.

WHAT IS TIGER WOODS’ NET WORTH? As of 2023, Forbes estimates Woods’ fortune to be $1.1 billion, nearly half of which ($500 million) came from Nike alone. We all knew their relationship wouldn’t last forever, but Nike (NKE) – Get Free Report was one of the few brands that remained by Woods’ side through his years of ups and downs, punctuated by groundbreaking wins, staggering losses, multiple injuries, and personal controversies. Still, it came as somewhat of a surprise on January 8, 2024, when Woods announced on his social media accounts that he was ending his contract with the sportswear brand.

The relationship had lasted more than 28 years. THE NIKE/WOODS DEAL: TIGER EARNS $500 MILLION, YET NIKE GAINS MORE Woods’ endorsement deals, along with his professional career, began in 1996, when he was just 20. He had won the NCAA golf championship as well as three U.S. Amateur titles before being named Rookie of the Year by the PGA. Sports Illustrated designated Woods their “Sportsman of the Year” (a distinction he would earn again in 2000), stating “in just two months as a pro, he has completely transformed the sport,” and that wasn’t an understatement. By 1997, Woods would be the #1 ranked golf player in the world — and golf suddenly became cool to play.

Interestingly, while Woods’ cover portrait on Sports Illustrated depicted him wearing a logoless baseball cap, soon, all of his apparel would proudly bear Nike’s insignia, when, on August 27, 1996, Woods signed a five-year sponsorship deal with the company for $40 million, the most lucrative athletic endorsement in history at the time. Back then, Earl Woods, Tiger’s father, called the figure “chump change.” The father would turn out to be right, as Nike would go on to extend his contract four more times, the last time in 2013 for $200 million. A TIMELINE OF TIGER WOODS\’ CONTRACTS WITH NIKE Golf Digest Year signed Length Amount 1996 5 years $40 million 2001 5 years $100 million 2006 7 years $160 million 2013 10 years $200 million Total $500 million As Tiger Woods’ wealth skyrocketed, so did Nike’s bottom line.

Nike amassed priceless amounts of PR from its partnership with the multiracial golfer, saying \”we watched him set records, challenge conventional thinking and inspire generations of people around the globe,” yet they also made a ton of money from him. Woods wore Nike shoes and apparel exclusively and later competed using their golf clubs and balls. Nike’s revenues more than doubled between 1995 and 1997, from $4.76 billion to $9.19 billion, and the company even launched a separate Nike Golf vertical in 2002. While sales of golf equipment would never match their clothing, Nike Golf generated revenues between $500 and $800 million between 2006 and 2017, according to company annual reports.

Nike\’s share price rose more than 1,470% during the 27 years-plus of the company\’s relationship with Woods. Adjusted for four 2-for-1 stock splits and dividends, the total return is closer to 2,000%. Tiger Woods’ red Nike shirts became a symbol of strength, power, and triumph over adversity; ESPN even conducted a color analysis of the red hues he wore — and for the record, Woods actually won the most tournaments wearing lighter, cerise colors, but he earned the most money donning deeper shades of crimson. But it wasn’t just Tiger’s image that sold millions; his performances did, too. Woods was known for his incredibly powerful — dare we say charismatic — golf swing that brought a new level of athleticism to the game, and when Woods won the Masters in 2019, his first major victory in 11 years, analysts estimated that Nike had earned $22.5 million in brand exposure in his final round alone, according to Reuters.

Perhaps we all should have seen the writing on the wall when Woods stopped wearing Nike shoes in preference for the Footjoy brand after sustaining major injuries in a 2021 car crash that required adding rods and screws to his leg. In his farewell announcement, Woods proved that he had learned a few things from his time with Nike’