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Let's be clear: Tiger Woods is NOT worth a billion dollars. The media continuously seem to imply that Tiger paying Elin $80 million dollars is like him giving away chump change in a fast food restaurant. Not so fast. First of all, Tiger Woods has only earned a billion dollars over his entire career, which is far different from saying that he is worth a billion. Imagine if you were a secretary earning $35,000 per year for 20 years and someone said that you were clearly worth $700,000 dollars. That's how silly it would be to say that Tiger Woods is worth a billion bucks.
Beyond that, the IRS takes half of his money, and his management team likely takes another 10 - 20 percent. I would be surprised if Tiger's net worth exceeds $400 million dollars. Granted, that's no small amount of money, but it's hardly enough to just spit out $80 million dollars because you chose to have sex with the wrong person. Given that most of Tiger's net worth is probably not in cash, getting $80 million dollars together to pay for someone's affection would be that much more difficult.
Another important point to be made about the Tiger Woods scandal is that Tiger may not necessarily be offering so much money because he can't stand to lose his wife. Instead, he may be offering her money as an investment in his own financial future. A happily married Tiger Woods with an equally happy wife is worth a great deal more in endorsement money than a free swinging Tiger Woods running out with a new woman every week. It may be the case that she is being paid to act like she's happy (I'm sure there's a lot of fine print on the prenup), which makes marriage an unfortunate choice for both Tiger and his wife, Elin. But then again, who wouldn't consider taking $80 million dollars to remain married to someone you don't like very much? Maybe the deal is good for everyone. Elin seems to have gotten some power by getting the ring on her finger.
There are other interesting questions in the Tiger Woods scandal, such as whether or not Tiger should have gotten married in the first place, or whether it should cost tens of millions of dollars to get out of a bad relationship. Single men don't have to pay to end their relationships, so watching Tiger cough up millions for doing his personal thing is likely to make some people hesitant to get married at all. I am not advocating for or against marriage, but the truth is that it's hard to argue that being a good spouse means that you've done just as much as your superstar partner to earn hundreds of millions of dollars. Tiger Woods would have earned his money with or without Elin Nordegren in his life. Maybe he needs to talk to Oprah Winfrey, who has done a pretty good job of keeping her love life from messing up her "cheddar."
S. Tia Brown and I discuss Tiger Woods and his possible divorce in the latest episode of Financial Lovemaking below. Enjoy!
Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of "Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good." To have Dr. Boyce commentary delivered to your email, please click here.
Comments: (10)
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By: Martina on 12/04/2009 11:29AM
Well, I agree to some point.Tiger would have been making all this money with or without Elin-No I do not agree.Majority of his income is from Nike, Att,Gatorade..........etc. That because he is a great golf player and because of his image-clean cut,private FAMILY guy-married to a beatiful,clean cut-not some socialite type wife.Someone who has it"all",someone to look up to,someone who you tell your children about as a example!Did he have to get married? Of course not, but him getting married ,having two great kids made him so much more marketable!It's very clear now he was definitely not ready as a person to get married to anybody-but too late.Many say he was too young-come on..he is 33 years old now and has a two year old and a 10 months old-seems good age to me.
It would be nice if the two of them can work this out,but as a woman I can tell you it would be very hard to get past something like this.To stay with him because he will give you more money?-That is something I can't even describe.Yes Tiger is only a human-but I think his wife does not want to hear that "explanation".Maybe he does not love her as many said-well, then why continue to be married to her and have children with her(one ten months ago)!
Tiger simply got caught-that's all.He thought he can have it all-wife and kids at home,continue his clean image and make big bucks from it and have his other girls on the side-it does not work that way!Do you honestly think if he was openly living his lifestyle with all these girls (even not being married) he would be making such a big money from Nike and others? Heck no!
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By: sugarbowl2009 on 12/04/2009 9:43PM
YOU GO SISTAAAAAAAAAAAAAAAAAAAA! GET ALL YOU AN GET FROM THAT MONKEY! DUMB A$$
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By: D'anne on 12/04/2009 10:12PM
Obviously there was a problem in Tiger's brain. It would make more sense to divorce his wife rather than do what he's doing now. Pay someone to stay with you? How does that salvage his image or marriage?
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By: milly on 12/19/2009 10:06AM
I have so many things to say about tiger woods, one a black man will not know them-self until his back is against the wall,when will we learn that the white man is angry when he as to look up at us,know yourself look in the mirror everyday and you will see how you are overcoming the struggle of being a black man and a successful one at that,if you look back you will see that tiger woods is an addition to the many-many successful black man that this united state of america as done to them and they to themselves the law works only when its in their favor, [ destroy ] so much of the black man that become- in success, they go out and choice a white woman with no success for their wife's to be accepted but before that happens it [destroy them never will you be accepted ,because they see you as a Negro and you must be beneath them not above them ,they are out to get you and your money get your back up close to the wall,and look in the mirror just think if you wore a sample ordinary black man would those white women even give you the time of day
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By: milly on 12/05/2009 11:56PM
I have so many things to say about tiger woods, one a black man will not know them-self until his back is against the wall,when will we learn that the white man is angry when he as to look up at us,know yourself look in the mirror everyday and you will see how you are overcoming the struggle of being a black man and a successful one at that,if you look back you will see that tiger woods is an addition to the many-many successful black man that this united state of america as done to them and they to themselves the law works only when its in their favor, [ destroy ] so much of the black man that become- in success, they go out and choice a white woman with no success for their wife's to be accepted but before that happens it [destroy them never will you be accepted ,because they see you as a Negro and you must be beneath them not above them ,they are out to get you and your money get your back up close to the wall,and look in the mirror just think if you wore a sample ordinary black man would those white women even give you the time of day
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By: Maudie Coley on 12/06/2009 8:25PM
Milly . I am a black woman . I couldn't agree with you more.Why don't our rich black men wake up .If something ever happen to her he will be down the tube . And to have 2 -3 mistress , It Dont take thet much sex for a horse .I hope they can mend thing . There in no trusting him any more .
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By: Betty J Holloway on 12/06/2009 6:38AM
I think everyone should mind there own business. With all the press can and may push his wife to leave to save face. What is it a man may have mess around on his wife and we fill it's our busness.what goes on it this man and woman home. This is there family and there business and he does not have to answer to us but only to his wife and his higher power. The press put it out there should she leave her husband likes we have a vote. What the hell is wrong with everyone and anyone who thinks this is there concern. I am looking for a full time job with benefits and health care will in anyone get on this because Tiger Woods home life is truly not my business. What everyone is going to be so happy to push this woman into something she does not want for her or her kids. Yea everyone forgot about the kids and one day how there will Goggle there Dad and find all this gar barge. Oh yea it not meant to hurt the kids right but what do you think will happen this is there Dad and Mother. Why not let this die and let the Woods family deal with there live out of the press. The good old press how many lives will you destroy for a story? How many people will keep this going so the press will keep this going? What kind of joy do you people get being all in this family business who would you like all of your business out there for the world to see? And do not say he in the lime light this is what you get why?
ALL I CAN SAY IS GET A LIFE AND LET THE WOODS FAMILY DEAL WITH THERE'S!!
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By: The Carolina Bee on 12/08/2009 11:32AM
"Very Little Sympathy For Tiger Woods In Black Communities"
Wealthy and powerful black athletes, rookies just coming in, famous and some not so famous celebrities and black professional men appears to feel that they have not completely arisen to success and prestige in society and feel good about themselves, unless they choose a female of another race to help spend their money and appear in public. They have a black mother, father as well as a black grandmother and grandfather. These people raised and nurtured them. Some of these mothers and grandmothers scrubbed floors, supported many of these guys on food stamps and government cheese and even wore wigs when they could not afford to go to a hairdresser and today have high blood pressure and diabetes, for not eating properly, while they were helping them. These women were scorned and mistreated as they cleaned houses and were many times terribly underpaid. This troubled and hurted these guys as they saw their mothers and grandmothers being exploited. These guys once use to love these women so much that helped them get to where they are today. I ask the question, "What happened to these guys"? Why do they no longer care anything about the girls they once knew in high school and college? Do they still see beauty in the women of their own race? Do they find their mother, grandmother and sisters beautiful, when they look at them? What does beauty mean to them today?
Even black men who are success and not so successful lawyers, doctors and other professionals feel that success and prestige means being with someone other than the race he was borned in. Also, some of these women of other races would never have even looked at them if they did not have money to help them spend. These females' family, who many were always prejudice, would not even allow a black person to visit their home or associate with blacks, but will allow a black athlete, celebrity or big time professional guy to marry their daughters for the money and the celebrityism. These women and their families, deep down inside laugh at these guys, because they know just how stupid they are. Sometimes these females don't even think enough of her black husband's family to visit, go to dinner and associate with the members of his family, because she has been raised to feel uncomfortable around blacks. He makes sure to spend a lot of time around her family and as long as he still has the money, they will treat him nice outwardly.
These women and their families spend and spend and spend. They many times, later jump at the first incident that merits a divorce and go straight to the bank. It is just so heartbreaking and shameful how much money Tiger Woods is putting out just to keep his wife for a few more years. That money could mean thousands of jobs for blacks and other people of color in the US and could feed several whole countries for years and years. What is so sad is that our black athletes don't even think about how it makes them look in the black communities and by the whole world. Tiger could be doing so much for his mother's poor people or the poor black communities.
I see very few men of other races knocking themselves out, running after black women and allowing them to help spend their money. White men and men of other races, in most cases, listen to their mothers and fathers and very seldom chooses a black female to marry. A few of them have married black females, but the number is nothing compared to black males. Of course it has been found out that throughout the US and Canada, there are several white men, at all different financial levels, among Jehovahs Witnesses that marries black females.
Is it that black athletes, professionals, and celebrities have low self-esteem and feel that it requires a women of another race to make them feel confident and worthy of what they have worked hard to acquire? Have they forgotten where they came from and who helped them to get to where they are? Even worse, is that some of these men allow these women and her families to spend so much of their money, until they can't even do very much or nothing financially for their own mothers, grandmothers and black families that help them to get to where they are now.
The white men looks on and says, "Go my white women, spend their money, because they don't know what to do with it. Hey black dudes keep on strengthening us, because we don't have any money to spend on your black women. They aren't good enough. Furthermore, even though deep down inside we know that they are really good enough and we find them gorgeous, we have been raised to restrain ourselves. In other words, we listen to our parents and you guys don't. Hey dudes, have you ever heard about how Jewish guys listen to their moms. They do this and have great marriages and succeeds financially.” They keep the wealth amongs themselves and this helps strenthen their communities”.
There are so many beautiful black women in this world of different skin coloring, beautiful bodies, educated, intelligent, clean, smell wonderful, bathe and shower all the time before putting on makeup and perfume, change underwear all the time before stepping out looking pretty, pretty white teeth, beautiful personalities, straightened hair, natural hair, great sense of humor, keep their house clean, cook good food and so much more. Black athletes, celebrities, professional, can you see? Stop making yoursleves look stupid and a big joke to the entire world. Why are you forgetting your own women?
I don't care how well these guys do their jobs on the court, the field, or wherever they do their thing, why are they not looking at themselves and where they came from and who helped them to get there. All of them and even the new young ones just coming into fame need group counseling and guidance so to stop doing this terrible and embarassing thing to the black race. The black communities need them and their money to help the black communities as a whole, because too much was taken from us from the time our race was put into slavery and even up until today. Some of the jobs lost that the American people are putting President Obama under fire today can be created by wealthy black athletes and celebrities in the black communities.
If they don't take heed to this, all of them will reap what they sow. Remember, that OJ and so many other black men had to learn the hard way. You always have to fall back on your black race to help lift you back up, when you get cut down to nothing and all your money is gone. Last but not least, it is time for a good example to be set for little African-American boys, so they can learn at an early age that black women are beautiful, should be given the utmost respect and to share the wealth with them and the black communities. Rest assured, people of other races make sure to share the wealth with and marry their own first.
Sincerely,
From The Desk of
The Carolina Bee
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By: P Lafay Tyler on 6/26/2010 11:39AM
Amen!
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By: CD Clarkson on 5/24/2010 2:30PM
Tiger Woods chose Finance as his major in college. His father Earl, by all reports, advised his son well. Tiger was making sooooo much money before he met Elin...Can anyone say "Prenuptial Agreement". You don't become a savvy businessman/investor overnite. My advise to Elin..Chill,hush-up, get paid..go home!!!!!!
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