Greg Norman sold the idea of “generational wealth” to not only Cameron Smith but every player he’s tried to lure to his LIV Golf League.
It was a promise the Australian great delivered on according to business magazine Forbes’ annual athlete rich list, with Smith raking in an eye-watering $110m in the past 12 months, rocketing him into the top 20.
The 29-year-old Queenslander was one of 12 golfers, including seven of Norman’s LIV players, who made the top 50, a massive rise from just three 12 months ago thanks predominantly to massive upfront sign-on fees and the huge cash purses they have been playing for.
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It’s been reported that Smith was paid $140m for joining LIV, which he did after winning the 2022 British Open.
Two LIV players, Dustin Johnson and Phil Mickelson, made the top 10 on the list, collecting more than $300m between them, underlining LIV’s great lure despite consistent criticism of taking money from the Saudi Arabian government, which financially backs the league through its Public Investment Fund.
Smith collected just $225,000 for winning last year’s Australian PGA, his most recent victory, but almost unbelievably that makes up less than 0.05 per cent of his earnings across the past year.
Forbes calculated its list with earnings from May 1, 2022 to May 1, 2023, with off-field earnings figures an estimate of sponsorship deals, appearance fees and memorabilia and licensing income, plus cash returns from any businesses operated by the athlete, based on conversations with industry insiders.
Soccer star Cristiano Ronaldo topped the list with a tick over $200m in earnings, having also signed a deal to play in Saudi Arabia, with World Cup winner Lionel Messi just behind him.
Smith was the third highest earning golfer behind Johnson and Mickelson and came in at 17 on Forbes’ list, just behind Tiger Woods, who still made more than $112m despite rarely playing.
The Australian also earned more than world No.1 and Masters champion Jon Rahm.
Norman has never shied away from the money available to LIV players who compete for more than $30m at every event.
“Generational wealth is there to be had,” Norman said.
“We are giving them the opportunity to look into the future instead of month by month, year by year.
“Now these captains like Cam are working out how to maximise their value through generational wealth. We see it there.
“These guys are so lucky to have that future laying out in front of them.”
GOLFERS IN FORBES’ TOP 50 EARNERS (in $A)
6: Dustin Johnson, $160m
7: Phil Mickelson, $156m
15: Rory McIlroy, $121m
16: Tiger Woods, $112m
17: Cameron Smith, $110m
28: Jon Rahm, $80 million
