Newsflash


Tiger's Next Trophy: Billionaire

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.

tiger071008.jpg

© AP

 

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%. We also credited Woods with annualized investment returns of 8%.

From 1996 (the year Woods turned pro) to the present, we based his earnings on estimates from Forbes' Celebrity 100 list. In 2007, we estimate Woods earned $115 million, $65 million more than runner-up David Beckham.

Based on those criteria, we project Tiger Woods should join our list of the world's billionaires in 2011.

It will be an unprecedented occurrence. There are plenty of billionaires who have excelled at sports, like Switzerland's richest man and champion sailor Ernesto Bertarelli. But there are no billionaires who accumulated their fortune by playing sports. A representative for Woods did not respond to a request for comment.

A billionaire Tiger would also be unique for earning his money through paychecks. If a billionaire didn't inherit his or her money, he or she typically made it by holding a stake in a company with a soaring valuation: Think Bill Gates. He didn't make his billions from his Microsoft (nasdaq: MSFT) salary, but from all the stock he owned.

Woods is poised to become a very unique billionaire because of his tremendous earning power. This is based, first and foremost, on Woods' remarkable golfing ability. His recent U.S. Open victory was his 14th major championship. He's only 32, and is quickly approaching Jack Nicklaus' record of 18 major career wins.

His list of accomplishments keeps going. Woods, a golf prodigy as a child, is the youngest golfer to achieve a career Grand Slam. He won 50 tournaments on the PGA Tour faster than any player. He's been the PGA Player of the Year nine times, another record.

Prize money only accounts for about one-tenth of Woods' earnings. The remainder comes from lucrative endorsement deals. This is another crucial cog in the money-making machine that is Tiger Woods--he's not just an excellent player; he's an exceptionally popular and marketable one.

Television ratings for golf tournaments increase by nearly a third when Woods is playing. "He has brought a new level of interest and fans to the sport that weren't there before he arrived," says Scott Sanford, a senior director at the marketing company Davie Brown Talent.

Nike Golf is the most prominent example of Woods' selling power. When Nike (nyse: NKE) signed Woods to an endorsement deal in 1996, it didn't have a separate golf unit. It launched one in 1998, with Woods at the center of its marketing push. Last year, Nike Golf posted over $600 million in sales. It is now the biggest golf apparel company in the world.

"He built Nike Golf," says Sanford. "When you show the best golfer in the world using certain balls, irons, apparel--viewers want to use the same equipment. No other athlete could have built up the brand at the rate he did."

That selling power is why Woods also has big deals with Accenture (nyse: ACN), Buick and Gillette. Gatorade recently launched a new line of drinks called Gatorade Tiger. Woods 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.

Just how far might Woods climb up the ranks of the world's billionaires? It's difficult to tell. Common risks for athletes include divorce and injuries, which slow wealth accumulation, says an investment manager who works with about two dozen professional athletes.

Retirement would also have an effect. Even though Woods is the best in the world, and golfers have exceptional longevity as pro athletes, there's no guarantee how long he will play.

"After all the records are broken, what else is there?" asks Alan Lancz, president of Alan B. Lancz & Associates. "I've seen that with athletes I work with. They make their mark and then move to other priorities, like family."

 

 

 

 

Content Calendar

<< November ’08 >>
Mo Tu We Th Fr Sa Su
     
13
15
18
22
26

YouTubes OnBlass

Advertisement Images

onblasslogo.jpg

Login Form






Lost Password?
No account yet? Register

Syndicate

Featured Articles

Joomla Featured Articles Module by DART Creations
powered_by.png, 1 kB

Home
Many never expected black presidentPDF Print E-mail
Written by Admin
Wednesday, 05 November 2008

By Debbie Ingram

Published: November 5, 2008

The Rev. Curtis Harvey watched as tears came to the eyes of his father and grandfather.

Never in their lifetime, they told the young Houston County commissioner, never, did they expect to see a black man elected president of these United States.

“My dad — he’s 62 — he said he never imagined this would happen,” Harvey said. “My grandfather who is almost 90, and many of the elderly people, felt the same way. Tears streamed down their faces (over the Obama victory).”

Barack Obama garnered 52 percent of the popular vote in the Tuesday election. A black man in the White House has been just a dream for generations of black and other minorities who have always heard they could do anything, be anything, go anywhere, but didn’t believe it.

Despite years and years of rhetoric about America being equal, many minorities have felt discrimination. Today, Harvey said, not only black, but blue-collar America, feels represented.

“I feel thankful and grateful, not only because he is our first African-American president, but because what he represents transcends all races, all cultures, all people,” Harvey said. “We truly have a president of the United States that everybody can claim a piece of.”

Local attorney Joel Ramsey said he is optimistic Obama will be a good president for all of America.

“I am excited about the prospect of having a very intelligent, transformational figure, someone who is very inspiring. I hope everybody else appreciated his comments in his acknowledgment Tuesday night,” Ramsey said.

Ramsey said Americans should rally behind the winner, regardless of party affiliation or how they voted.

“It is our job to support the winner. Hopefully we can do that. It is natural for people to get worked up after an election. We all believe in our candidates,” he said.

But many never believed Americans would actually turn out in such record numbers to elect the black senator from Illinois.

“It’s something I imagined might happen in my lifetime, but I am surprised that it happened this soon,” said Dr. Larry Kirkland Jr., executive director of Herring Houses of Dothan.

“Nine months ago, I told friends the Democrats would hand themselves another defeat by nominating Obama because I did not think America was ready to elect a black president. He ran a flawless campaign.”

And for the masses, Obama’s victory represents hope.

“I have no idea the challenges my father and grandfather faced,” Harvey said.

The commissioner said he received a text message on his cell phone Wednesday morning that acknowledged the ground-breaking accomplishments of both
Rosa Parks and Martin Luther King Jr., who helped usher in this unique time in America’s history.

The text read, “Rosa sat so Martin could walk. Martin walked so Obama could run. Obama ran so our children could fly.”

“I am just excited,” Harvey said.

 
Obama becomes first black president in landslidePDF Print E-mail
Written by Admin
Wednesday, 05 November 2008

By DAVID ESPO, AP Special Correspondent David Espo, Ap Special Correspondent

 

 
Reuters – Obama supporters (L to R) Michelle Ester, Joyce Townes, Edward Townes, Earline Wallace and Jackie Woods …......

 

WASHINGTON – Barack Obama swept to victory as the nation's first black president Tuesday night in an electoral college landslide that overcame racial barriers as old as America itself.

The son of a black father from Kenya and a white mother from Kansas, the Democratic senator from Illinois sealed his historic triumph by defeating Republican Sen. John McCain in a string of wins in hard-fought battleground statesOhio, Florida, Virginia and Iowa.

A huge crowd in Grant Park in Obama's home town of Chicago erupted in jubilation at the news of his victory. Some wept.

McCain called his former rival to concede defeat — and the end of his own 10-year quest for the White House. "The American people have spoken, and spoken clearly," McCain told disappointed supporters in Arizona.

Obama and his running mate, Sen. Joseph Biden of Delaware, will take their oaths of office as president and vice president on Jan. 20, 2009.

As the 44th president, Obama will move into the Oval Office as leader of a country that is almost certainly in recession, and fighting two long wars, one in Iraq, the other in Afghanistan.

The popular vote was close, but not the count in the Electoral College, where it mattered most.

There, Obama's audacious decision to contest McCain in states that hadn't gone Democratic in years paid rich dividends.

Obama has said his first order of presidential business will be to tackle the economy. He has also pledged to withdraw most U.S. combat troops from Iraq within 16 months.

Fellow Democrats rode his coattails to larger majorities in both houses of Congress. They defeated incumbent Republicans and won open seats by turn.

The 47-year-old Illinois senator was little known just four years ago. A widely praised speech at the Democratic National Convention, delivered when he was merely a candidate for the Senate, changed that.

Overnight he became a sought-after surrogate campaigner, and he had scarcely settled into his Senate seat when he began preparing for his run for the White House.

A survey of voters leaving polling places on Tuesday showed the economy was by far the top Election Day issue. Six in 10 voters said so, and none of the other top issues — energy, Iraq, terrorism and health care — was picked by more than one in 10.

"May God bless whoever wins tonight," President Bush told dinner guests at the White House, where his tenure runs out on Jan. 20.

The Democratic leaders of Congress celebrated in Washington.

"It is not a mandate for a party or ideology but a mandate for change," said Senate Majority leader Harry Reid of Nevada.

Said Speaker Nancy Pelosi of California: "Tonight the American people have called for a new direction. They have called for change in America."

Shortly after 11 p.m. in the East, The Associated Press count showed Obama with 338 electoral votes, well over the 270 needed for victory. McCain had 127 after winning states that comprised the normal Republican base.

The nationwide popular vote was remarkably close. Totals from 58 percent of the nation's precincts showed Obama with 51 percent and McCain with 47.9.

Interviews with voters suggested that almost six in 10 women were backing Obama nationwide, while men leaned his way by a narrow margin. Just over half of whites supported McCain, giving him a slim advantage in a group that Bush carried overwhelmingly in 2004.

The results of the AP survey were based on a preliminary partial sample of nearly 10,000 voters in Election Day polls and in telephone interviews over the past week for early voters.

Democrats also acclaimed Senate successes by former Gov. Mark Warner in Virginia, Rep. Tom Udall in New Mexico and Rep. Mark Udall in Colorado. All won seats left open by Republican retirements.

In New Hampshire, former Gov. Jeanne Shaheen defeated Republican Sen. John Sununu in a rematch of their 2002 race, and Sen. Elizabeth Dole fell to Democrat Kay Hagan in North Carolina.

Democrats also looked for gains in the House. They defeated Republican incumbents Rep. Tom Feeney and Ric Keller in Florida, 22-year veteran Chris Shays in Connecticut and Rep. Robin Hayes in North Carolina.

At least two Democrats lost their seats. Rep. Kevin Mahoney fell after admitting to two extramarital affairs while serving his first term in Florida. In Louisiana, Democratic Rep. Don Cazayoux lost the seat he had won in a special election six months ago.

The resurgent Democrats also elected a governor in one of the nation's traditional bellwether states when Missouri Attorney General Jay Nixon won his race.

The White House was the main prize of the night on which 35 Senate seats and all 435 House seats were at stake. A dozen states elected governors, and ballots across the country were dotted with issues ranging from taxes to gay rights.

An estimated 187 million voters were registered, and in an indication of interest in the battle for the White House, 40 million or so had already voted as Election Day dawned.

Obama sought election as one of the youngest presidents, and one of the least experienced in national political affairs.

That wasn't what set the Illinois senator apart, though — neither from his rivals nor from the other men who had served as president since the nation's founding more than two centuries ago. A black man, he confronted a previously unbreakable barrier as he campaigned on twin themes of change and hope in uncertain times.

McCain, a prisoner of war during Vietnam, a generation older than his rival at 72, was making his second try for the White House, following his defeat in the battle for the GOP nomination in 2000.

A conservative, he stressed his maverick's streak. And although a Republican, he did what he could to separate himself from an unpopular president.

For the most part, the two presidential candidates and their running mates, Biden and Republican Gov. Sarah Palin of Alaska, spent weeks campaigning in states that went for Bush four years ago.

McCain and Obama each won contested nominations — the Democrat outdistancing former first lady Hillary Rodham Clinton — and promptly set out to claim the mantle of change.

Obama won Colorado, Nevada, California, Hawaii, Oregon, Washington, Florida, Virginia, New Mexico, Iowa, Ohio, Wisconsin, Michigan, New York, Rhode Island, Minnesota, Pennsylvania, New Hampshire, Vermont, Connecticut, Delaware, Illinois, Maine, Massachusetts, Maryland and New Jersey, as well as the District of Columbia.

McCain had Nebraska, Idaho, Mississippi, Texas, West Virginia, Utah, Arkansas, Kansas, Kentucky, Tennessee, Oklahoma, Wyoming, Alabama, South Carolina, Louisiana, South Dakota and North Dakota.

 

 

Polls

What do you think is the biggest Economic problem?
 
What's more important to you
 

OnBlass Weather

Dallas, Tx
Short Term Forecast - Dallas (Texas)
Slight Chance Rain, Probability Of Precipitation: 30% Today: Slight Chance Rain
57°F | 36°F
Mostly Sunny Tomorrow: Mostly Sunny
64°F | 37°F
Current Conditions:
The most current observation is more than 4012 hours old, please try again later.
Los Angeles, CA
Mostly Sunny Today: Mostly Sunny
64°F | 51°F
Mostly Sunny Tomorrow: Mostly Sunny
69°F | 51°F
Current Conditions:
The most current observation is more than 4805 hours old, please try again later.
OnBlass Weather
© 2009 Onblass.com News1 - Your Consolidated News Source
Global Technology Solutions Inc! Proving Solutions to your technical challenges.