"It took John D. Rockefeller a lifetime, and a virtual monopoly on the oil business, to become a billionaire.
Buick endorser and golfer Tiger Woods, right, helps introduce the 2008 Buick Enclave at the Los Angeles Auto Show in 2006. (Associated Press/Chris Carlson.)
Tiger Woods will do the same after just three decades of playing golf.
Of course, John D.’s billion would be worth a lot more today. But according to an article by Andrew Farrell and Tom Van Riper in Forbes, Tiger Woods is on track to become a billionaire by 2011. Even with his bum leg.
Here are the numbers:
Total earnings–$1 billion by 2010.
Minus taxes and Management fees–about $450 million.
Investment returns–about 8%.
Annual earnings (2007)–$115 million. (He will rake in about $90 million in endorsement contracts this year alone. Over the course of his career, he’s earned more than $750 million from such deals–against career winnings on the golf course of $94,038,162 world-wide through 2007.)
Lots of unknowns could derail this quest for billionairedom. Injuries, weaker performance on the golf course or even divorce could reduce his winnings. But if he succeeds, Tiger would take athlete earnings to an entirely new level. As you can see from the Sports Illustrated list below of highest-paid U.S. athletes, Tiger already is in a financial league of his own. (Note: the SI figure for Tiger differs somewhat from the Forbes estimate.)" WSJ wealth Report
