The evolution of prize money at The Masters Tournament highlights how dramatically professional golf economics have changed over the past few decades, with modern champions earning significantly more than their predecessors.
In 2001, Tiger Woods became the first Masters winner to surpass the $1 million prize mark, earning just over $1.008 million during his iconic “Tiger Slam†era. At the time, it marked a major milestone in the growth of tournament payouts.
Fast forward to recent years, and payouts have surged. Rory McIlroy earned $4.2 million for his Masters victory last year, reflecting a more than 300% increase in the winner’s prize over roughly 25 years. This upward trend underscores the broader rise in golf’s commercial value, driven by media rights, sponsorships, and global audience growth.
Despite Woods remaining the all-time career money leader on the PGA Tour, he is not the top earner in Masters history. That distinction currently belongs to Phil Mickelson, who has accumulated approximately $9.87 million in Masters prize money across 32 appearances. Woods follows closely with about $9.64 million from 26 appearances.
Among active contenders, McIlroy and world No. 1 Scottie Scheffler are positioned to climb further up the all-time Masters earnings list, especially as tournament purses continue to increase year over year. Scheffler has already amassed nearly $8.05 million in just six appearances, including multiple first-place finishes.
The steady rise in payouts reflects the increasing financial scale of elite golf, where modern champions can earn multiple millions for a single tournament, a stark contrast to the six-figure winnings seen in previous decades.