Tiger Woods Net Worth: Will Athlete's $740 Million Net Worth Go Down After DUI Incident?
Champion golfer Tiger Woods was arrested on Monday near his home in Florida and was charged with driving under the influence (DUI). This marks the first time that he has ever been arrested.
However, according to a statement released by Woods, as reported by ESPN, there was no alcohol involved in the incident. He explained, "I understand the severity of what I did and I take full responsibility for my actions. I want the public to know that alcohol was not involved. What happened was an unexpected reaction to prescribed medications. I didn't realize the mix of medications had affected me so strongly."
He also stated he will ensure that such incident will never happen again and that he has been fully cooperating with law enforcement.
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This incident could possibly cost the athlete, who has won 14 major championships, millions in earnings from his current and future endorsements, which include Nike Golf, Bridgestone Golf, TaylorMade Golf, Rolex, Upper Deck, Kowa, and Hero Motor Group. Due to the amount of money that will be involved in the case and the possibility of his sponsors leaving him, it has prompted speculations as to what his current net worth is.
Since he became a professional golfer in 1996, Woods has gained a great deal of wealth, fame, and success. He took home millions of dollars in prize money with every win. However, his tournament victories only made up 10 percent of his total net worth, according to COED. Most of his income is generated from his several endorsement deals.
According to a report by Forbes in December last year, Woods' net worth as of 2016 was at $740 Million. In fact, he ranked 12th on the publication's list of the world's highest-paid athletes last year. This year's numbers have yet to be published.
Although Nike stayed by his side when Gatorade, Gillette, and AT&T cut ties with him due to his infidelity scandal, time will tell if his current endorsements and sponsorships will continue to sign him after the recent DUI arrest.
