Rory McIlroy’s Masters triumph saw him land a record-breaking prize money payout, but the Northern Irishman won’t be pocketing all of it due to a hefty tax bill
Rory McIlroy finally clinched the coveted green jacket(Image: Richard Heathcote/Getty Images)
Golfing history was made in breathtaking style on Sunday as Rory McIlroy ended over a decade of hurt by finally securing the Masters title. With it, he bagged himself a career Grand Slam, becoming just the seventh man in history to do so.
The hard-fought victory embodied his relentless spirit, with McIlroy riding a wave of highs and lows throughout the final round to pip Justin Rose to the post in a nerve-jangling play-off. Overcome with emotion, he wept openly as he hugged wife Erica Stoll and daughter Poppy following the championship-winning putt.
For the 35-year-old Northern Irishman, Sunday marked him reaching the pinnacle of a career built on both skill and grit. The win also came with a record-shattering purse: £3.4million ($4.2m) from a £15.9 ($21m) prize pool – the largest in Masters history.
However, due to US tax rules, Florida-resident McIlroy is left with around £1.8m ($2.4m) after coughing up nearly £1.5m ($1.8m) in combined federal and state taxes. As tax consultant Paul Barham explained: “Any prize money earned at Augusta is subject to US federal tax at 37 per cent, plus state levies. For McIlroy, that’s a significant chunk.”
Still, even after deductions, the payday adds to McIlroy’s already impressive wealth. As of 2023, he was estimated to be worth £225m, and that figure has likely risen since.
With this Masters victory, McIlroy’s total pro golf earnings topped £121m ($160m), making him only the second player in PGA Tour history to earn more than $100m – the first being Tiger Woods. Yet his financial success extends far beyond tournament winnings.
Massive brand partnerships with Nike, Omega, and TaylorMade have added huge value to his portfolio, along with shrewd business ventures in real estate – including a lavish £16.7m mansion in Jupiter, Florida – and a jaw-dropping fleet of cars.
Rory McIlroy has become just the seventh man in history to win all four majors
Speaking after his emotional win, McIlroy said: “This place has haunted me for so long, but today it feels like home.” He added: “To my family, to Poppy, I’d say: never give up on your dreams. Keep coming back, keep working hard… Erica and Poppy have been my rock. They know the burden I’ve carried coming here every year, trying again.”
His journey to the green jacket was anything but straightforward. On Saturday, he surged into the lead with six straight threes – a first-time feat at Augusta. But the final round brought pressure and missteps.
Two brutal double bogeys and a missed par putt from five feet on the 18th sent the contest into a play-off. “I thought it was slipping away again,” he admitted afterwards.
McIlroy pipped Justin Rose in a nail-biting play-off(Image: Getty)
But McIlroy delivered under pressure. A clutch birdie on the opening hole gave him the edge, while Rose settled for par. “I just kept telling myself to trust my game,” he said. “That birdie felt like fate.”
When the ball dropped, McIlroy collapsed to the ground, overwhelmed by emotion, releasing over a decade of Augusta heartbreak. “There was a lot of pent up emotion that just came out on the 18th green. But a moment like that makes all of the years and close calls worth it,” he said.
While he may have lost a large chunk to taxes, McIlroy made clear the win was never about the cash. “It’s never been about that,” he said, echoing his own words from 2019: “I play for the prestige, for moments like this.”
Still, a £1.8m payout is a nice bonus – especially for someone whose fortune is over 100 times larger. On Augusta’s fabled fairways, with the green jacket finally his, McIlroy reminded the world: even after the taxman shows up, chasing dreams can still pay off big.