Tiger Woods is still the highest-paid golfer on earth—here's how much he makes

Tiger Woods has been a household name since 1997 when he became the youngest player ever to win the Masters.

Today, the 42-year-old athlete is ranked 51st in the world golf rankings but remains the highest-paid golfer in the world. Forbes estimates that Woods made $43.3 million in 2017, and Golfworld calculates that he earns an average of $1,282 per shot.

And the star appears to put his money to use. Business Insider reports that Woods owns a $55 million 10-acre property, a $54 million private jet, and a $25 million yacht.

But Woods didn't make his fortune by winning titles alone. He also earned it through lucrative endorsement deals with companies like Nike, Monster Energy, and Bridgestone Golf. According to Forbes, $1.3 million of Woods' earnings last year came from his salary and winnings, and the remaining $42 million came from sponsorships. Woods has made $1.5 billion since turning pro-1996, but less than 10 percent of these earnings came from prize money.

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Despite facing career-threatening injuries and public scandals, his name can still drive consumers to stores and viewers to their televisions — a phenomena known as the "Tiger Effect."

"His endorsement alone increases our sales 30 percent, even if he's not playing," then-CEO of Bridgestone Angel Ilagan told CNBC in April. "If he wins, we're in a whole lot of trouble, because we're not going to be able to make enough product."

Nielsen calculates that Woods drives an average of almost 2.9 million extra viewers for every tournament he plays in.

Tiger Woods

Streeter Lecka/PGA of America/Getty Images

Experts predict the PGA Championship, which kicked off Thursday, will benefit from the "Tiger Effect" as well. On Tuesday Woods told The New York Times that he felt "very blessed" to be back on the course, and his competitors noticed that the legend was more relaxed and happy than he usually is.

"He's more talkative," said Justin Thomas, the defending champion of the PGA Championship. "He's enjoying himself more. He's obviously still competitive and wants to kill us when he's out there, but it definitely is a different Tiger than I watched on TV growing up."

By Abigail Hess | @abigailjhess, www.cnbc.com - August 10th, 2018