Top five highest-earning golfers in 2024

In 2024, the world’s highest-paid golfers saw significant earnings, combining on-course prowess with lucrative off-course revenues.

According to Forbes, the PGA Tour awarded approximately $402.4 million in prize money this season, supplemented by $340 million from major events and bonus pools, totalling around $740 million available for top golfers.

The top golf earners in 2024 feature a mix of PGA Tour and LIV Golf players. Jon Rahm leads the pack with an impressive $218 million in annual earnings. Rahm’s income surge is attributed largely to his lucrative contract with LIV Golf, netting $198 million from on-course earnings and contracts, and an additional $20 million from endorsements like Mercedes-Benz and Rolex.

Rory McIlroy follows closely, earning over $80 million, with a balanced mix of on-course successes and off-course endorsements. Tiger Woods remains a dominant figure with $67 million, bolstered significantly by his enduring endorsement deals despite reduced tournament appearances.

In this week’s edition of BusinessDay Business of Sports, we highlight the top five highest-earning golfers in 2024.

Jon Rahm

Age: 29 Years

Earnings: $218 million

Jon Rahm has made a substantial financial leap in 2024, largely fueled by his lucrative contract with LIV Golf. His total earnings are estimated at $218 million, with $198 million stemming from on-course successes and contractual agreements, and an additional $20 million from endorsements and sponsorships. Rahm’s endorsement portfolio includes prestigious brands such as Mercedes-Benz, Rolex, Callaway, and Santander Group, which significantly bolster his overall income.

Rory McIlroy

Age: 35 Years

Earnings: $86 million

Rory McIlroy has enjoyed a highly lucrative 2024, notably increasing his earnings through strong tournament performances. As of May 2024, McIlroy’s career Tour earnings amount to $86.6 million. His recent victory at the Wells Fargo Championship earned him $3.6 million, bringing his total career earnings from that tournament to $9.46 million. McIlroy’s successful year positions him close to surpassing Phil Mickelson for second place on the all-time PGA Tour earnings list, with just $10 million separating them.

Tiger Woods

Age: 48 Years

Earnings: $67 million

Tiger Woods remains one of the highest-paid golfers, primarily due to his lucrative endorsements. His estimated net worth stands around $1.1 billion, supported by annual earnings of $67 million. Major sponsors like Nike, Rolex, Hero Motorcorp, TaylorMade, and 2K Sports contribute significantly to his income. While Woods’ on-course earnings have declined, his enduring brand value and marketability ensure he remains a top earner in the golfing world. His total career earnings on the PGA Tour amount to approximately $120.9 million, making him the highest-paid golfer on the tour by a substantial margin. Despite playing fewer tournaments, Woods remains a significant figure in the sport through his endorsement deals and other business ventures.

Scottie Scheffler

Age: 27 Years

Earnings: $61 million

Scottie Scheffler has accumulated over $61 million in career earnings from the PGA Tour. His earnings continue to rise as he competes in various tournaments and maintains consistent performance levels. Scheffler’s income is derived primarily from tournament winnings, sponsorships, and endorsements.

Cameron Smith

Age: 30 Years

Earnings: -$47 million

Cameron Smith reportedly received a $100 million guarantee to join LIV Golf, far more financially rewarding than his decade-long tenure competing in PGA Tour events and Majors. In just three seasons with LIV, the 2022 British Open Champion has earned nearly $40 million in prize money, according to Spotrac. This amount surpasses his total career earnings on the PGA Tour by approximately $5 million, highlighting the financial benefits of his move to the upstart tour.