Is Tiger Woods Running Out of Money?
Two years ago, Tiger Woods was worth over $600 million, but some say after his divorce settlement and losing streak on the golf course he’s running out of money, fast. INSIDE EDITION has the story.
Is Tiger Woods running out of money? Fortune magazine says yes!
The golf star's latest commercial is not for a top brand like Nike or Pepsi, but rather, a Japanese heat rub lotion called Vantelin.
Fortune is calling it a "moment of desperation" for the golfer who was once the highest paid athlete in America.
Just two years ago, he was worth $600 million. But in light of all of the scandal, his bank account has taken a major hit.
His golf winnings are also down significantly. In 2009, he won $10 million. In 2011, plagued by injuries, he has won a meager $570,000.
"That's pretty pathetic for Tiger Woods. He's the guy that leads the all-time money list for the PGA tour…$571,000 is a lot for people like you and me, but for Tiger Woods, it's a drop in the bucket," Bloomberg TV's Michele Steele said.
And Woods has a lot of expenses.
He paid ex-wife Elin Nordegren $110 million in their divorce settlement. The mortgage payment on his Florida mansion is said to be $10 million a year!
He also paid millions in hush money to several of his mistresses, including a reported $10 million to so-called mistress number one, Rachel Uchitel.
Uchitel has allegedly violated the confidentiality terms of the settlement and has reportedly been forced to give most of that money back after appearing on Celebrity Rehab and blabbing about being 'addicted to love.'
And here's a strange twist to the story: Nordegren's new boyfriend, billionaire businessman Jamie Dingman, who reportedly dated Uchitel.
Woods's agent issued a statement, saying, "Tiger Woods is financially sound and strong. Stating anything else is incorrect and factually baseless."
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