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Tiger Woods' cheating scandal in 2009 was one of the most shocking infidelity-related scandals in pop culture history. Several women came forward to claim that they had extramarital affairs with Woods, who was at the time married to model Elin Nordegren. The scandal caused a media firestorm, and Woods' reputation took a significant hit as a result.
Given his previously wholesome image as a golfing icon and devoted family man, the scandal was widely reported by the media and generated intense public interest and scrutiny. The public reaction to Woods' cheating was initially one of shock and disbelief, as many people had seen him as a role model and a symbol of professionalism and family values. The sheer number of alleged extramarital affairs, and the dramatic impact it had on Woods' personal and professional life led to it becoming one of the biggest news stories of the year.
The scandal also led to the collapse of his marriage, impacting both his professional career and endorsement deals, which led to him losing millions of dollars. Here's how Tiger Woods's cheating scandal cost him an absolute fortune...
Tiger Woods's Net Worth Took A Significant Hit Following His Highly Publicized Divorce
Tiger Wood's divorce from his ex-wife Elin Nordegren became one of the most expensive celebrity divorces of all time. It's estimated that Tiger Woods lost around $100 million dollars in his divorce settlement after news of his cheating scandal broke in 2009. It was named as one of the largest divorce settlements in sports history and was finalized the following year in 2010.
Tiger Woods was ordered to pay monthly child support that was estimated to be around $20,000 per month, the settlement included not only child support but also a division of assets, such as properties and cars, as well as alimony.
Woods and his ex-wife, Elin Nordegren, owned several properties, including a $2.6 million vacation home in Sweden and a $39 million estate in Jupiter Island, Florida. In the divorce settlement, Nordegren received the 21,000-square-foot Florida estate, which was one of the largest assets that Woods had to give up.
In addition to the properties, Woods also had a large collection of cars, which included several high-end luxury vehicles. After the scandal, some reports suggested that Nordegren received several of these cars as part of the divorce settlement. Woods and Nordegren reportedly owned a large yacht together, which was also part of the divorce settlement.
The couple decided to share joint custody of their two children, daughter Sam and son Charlie, who were 3 years and 19 months old respectively at the time. Both Woods and Nordegren have prioritized not allowing their divorce affect their children.
How Much Did Tiger Woods Lose In Endorsement Deals After His Cheating Scandal?
Tiger Woods lost several endorsement deals and sponsorships after news of his cheating scandal broke in 2009. At the time, Woods was one of the highest-paid athletes in the world, and partnered with major companies such as AT&T. However, after the scandal, several of these companies decided to terminate their endorsement deals with him.
The long list of companies that cut ties with Woods includes Nike, Gatorade, Gillette, and luxury watchmaker Tag Heuer. It's estimated that Woods lost between $30 million and $40 million in endorsement income alone as a result of the scandal. According to a new study by researchers at the University of California, it was reported that shareholders of Nike, Gatorade, and other sponsors lost a collective $5 to $12 billion in the wake of the scandal involving his extramarital affairs.
Additionally, Tiger Woods took a self-imposed break from professional golf. He did not compete in any tournaments for several months. Woods made his comeback at the Masters Tournament in Augusta, Georgia, in April 2010, which was five months after the scandal broke. During that time, Woods also underwent treatment for hypersexuality.
Despite the losses, Woods was able to regain some of his endorsement deals in the years following the scandal and make a successful comeback on the golf course. As of 2023, Woods is still one of the highest-paid athletes in the world, with endorsement deals with companies such as Nike, Bridgestone, and Rolex.
Did Tiger Woods's Net Worth Recover After The Cheating Scandal In 2009?
Tiger Woods' net worth was estimated to be around $800 million before his cheating scandal in 2009. After the scandal, Woods faced several consequences, including one of the most expensive celebrity divorce settlements ever and the loss of endorsement deals, which caused his net worth to plummet.
However, In the following years, he was able to gradually recover his image and rebuild his status as one of the most successful and well-respected people in sports. He began by sincerely apologizing and taking full responsibility for his actions. He released a statement shortly after the allegations came to light, saying: "I am deeply aware of the disappointment and hurt that my infidelity has caused to so many people, most of all my wife and children. I want to say again to everyone that I am profoundly sorry and that I ask for forgiveness. It may not be possible to repair the damage I've done, but I want to do my best to try."
He continued, saying: "I am not without faults, and I am far short of perfect. I am dealing with my behavior and personal failings behind closed doors with my family. Those feelings should be shared by us alone. I will strive to be a better person and the husband and father that my family deserves. For all of those who have supported me over the years, I offer my profound apology."
After releasing his statement to the public, he began seeking treatment for his addiction to hypersexuality and took a break from golf to focus on repairing his personal life. When he returned to golf, he worked hard and didn't show any sign of stopping, and has since been very private about his personal life.
With time, Tiger Woods was able to regain some of his endorsement deals including his very lucrative deal with Nike and make a successful comeback on the golf course, which all helped to increase his net worth. As of 2023, his estimated net worth is around $1.1 billion, which is even higher than it was prior to the scandal.
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