Phil Mickelson has been under constant attack since his comments about LIV Golf’s Saudi backers being “scary mother f—kers” were revealed by writer Alan Shipnuck and the six-time major champion joined the upstart tour. But Mickelson has not backed down from his critics.
A recent Golfweek column that was critical of “Lefty” triggered a series of Twitter replies from Mickelson, including one to a tweet that asked about his gambling addiction. “Haven’t gambled in years. Almost a billionaire now. Thanks for asking,” Mickelson wrote. He later clarified that he still gambles on the golf course, but the stakes are capped at $1,000, which he defines as “creating competition.”
Some raw, back-of-the-envelope calculations put his net worth at an estimated $875 million. A representative for his agency, Sportfive, did not respond to a request for comment.
Mickelson’s career earnings from prize money, sponsorships, course design and appearance fees topped $1 billion after LIV gave him a reported $200 million bonus spread over multiple years to join the tour last year. He was the second golfer to reach 10 figures in earnings after Tiger Woods—Jack Nicklaus and Arnold Palmer both did on an inflation-adjusted basis. Mickelson is one of eight athletes to hit $1 billion and ranks 13th for all-time career earnings when adjusted for inflation.
Sponsors such as KPMG, Workday and Callaway helped build most of his bankroll butdropped him after his PGA Tour defection—only $100 million of his career earnings is from prize money, including $1.8 million last year at LIV events.
These estimates are based on gross earnings and are distinct from net worth. Mickelson has been vocal about the dent in his bank account fromCalifornia taxes and his “reckless” gambling habits. Golfers also rack up significant expenses as independent contractors who must pay for their own travel, coaching, caddies, training and agent fees on top of everyday expenses.
Assuming that taxes and expenses eat up 75% of his annual income, Mickelson is left with 25% at the end of each year to buy tangible assets or invest. He turned pro in 1992 and has had a longer time horizon to build his net worth than younger athletes. Since then, the S&P 500 has risen 9.8% annually, including dividends reinvested. Applying that annual investment return to his disposable income results in a net worth of $875 million.
That would make him not quite a billionaire, but close.
