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THE FIRST ATHLETE BILLIONAIRE July 13, 2008

Posted by yosayword in Uncategorized.
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According to Forbes.com  YAYYYYYY TIGER! 

After Tiger Woods won the U.S. Open last month, one golfer said “he beat everybody on one leg.” It’s an exaggeration, but only a slight one. Woods won the championship over five grueling rounds, despite playing with a torn ligament in his left knee.

Surgery and recovery will sideline Woods for the rest of this year’s golf season. Although it might be difficult for the legendary competitor to stay off the green for that long, he can certainly afford the hiatus. Even with the knee injury (and barring a catastrophe), Woods will become the world’s first billionaire athlete in the next few years.

Woods is on track to pass $1 billion in career earnings by 2010. Becoming a billionaire – that is, having a net worth above $1 billion – will take slightly longer, since a sizable chunk of Woods’ prize and endorsement money is eaten up by taxes and management fees – we estimated 45 percent. We also credited Woods with annualized investment returns of 8 percent.

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