Net Worth Ranker
What Was Arnold Palmer’s Net Worth?
At the time of his death on September 25, 2016, Arnold Palmer, the iconic American professional golfer and entrepreneur, had a net worth estimated at $700 million. This substantial net worth reflected not only his achievements on the golf course but also his remarkable success in endorsements and entrepreneurial ventures. Palmer’s ability to cultivate a lucrative brand and secure numerous endorsement deals cemented his legacy as one of the wealthiest athletes of all time.
Arnold Palmer’s Career Earnings and Endorsement Deals
During his illustrious 52-year career on the PGA Tour and Senior Tour, Arnold Palmer accumulated $3.6 million in prize money. While this sum is considerable, it represents only a small fraction of his total earnings. The lion’s share of Palmer’s wealth stemmed from endorsement deals, estimated at $1.3 billion after adjusting for inflation. His first endorsement deal was signed in 1959 with golf club maker Wilson, in which the terms of the deal required Palmer to give the clubs back if he ever quit playing.
Palmer’s appeal lay in his “every-man” persona and likability, which made him an attractive figure for brands seeking to connect with a broad audience. Through Arnold Palmer Enterprises, his company, Palmer marketed and promoted a variety of products and services. Some of the major brands he endorsed include United Airlines, Holiday Inn, Westin, Qantas, Rolex, Ford, Heinz ketchup, Allstate Insurance, Pennzoil, and Hertz. In 2015, even after having not played professionally in over a decade, Palmer still earned $40 million from endorsements.
Arnold Palmer’s Early Life and Golfing Beginnings
Arnold Daniel Palmer was born on September 10, 1929, in Latrobe, Pennsylvania. His father, Deacon Palmer, was the head professional and greenskeeper at Latrobe Country Club, and it was from his father that young Palmer learned the game of golf. He received a golf scholarship to Wake Forest College but left after the death of a close friend, Bud Worsham. From 1951 to 1954, Palmer served in the U.S. Coast Guard. After his service, he returned to college and resumed his competitive golfing career. In 1954, he won the U.S. Amateur in Detroit.
Arnold Palmer’s Professional Golf Career Milestones
Arnold Palmer turned professional after winning the 1954 U.S. Amateur. In 1955, his rookie season, he won the Canadian Open and earned $2,400. Palmer’s first major championship came at the 1958 Masters Tournament, where he took home $11,250. By 1960, he had partnered with sports agent Mark McCormack. His success and appeal made him a central figure in popularizing golf as a televised sport in the 1950s and 1960s.
Palmer’s appearance at the 1960 British Open, despite a runner-up finish, helped to galvanize fans in Britain and Europe, and encouraged American golfers to participate in the event. He later won the Open Championship in 1961 and 1962 and last played it in 1995. In total, he won seven major championships, including four Masters Tournaments (1958, 1960, 1962, 1964), one U.S. Open (1960), and two Open Championships (1961, 1962). From 1960 to 1963, he won 29 PGA Tour events and had a PGA Tour event win every year from 1955 to 1971. He made 50 consecutive appearances in the Masters Tournament, with his last appearance in 2004. In 1967, Palmer was the first golfer to surpass $1 million in career earnings on the PGA tour. He officially retired from tournament golf on October 13, 2006, but he continued to serve as an honorary starter for the Masters from 2007 until his death.
Arnold Palmer’s Entrepreneurial Ventures and Business Interests
Arnold Palmer’s entrepreneurial spirit was evident in the numerous businesses he owned, many of which were related to golf. Arnold Palmer Enterprises managed Palmer’s endorsements, licensing agreements, spokesman deals, and commercial partnerships. He owned the Bay Hill Club and Lodge in Orlando, Florida, the venue for the Arnold Palmer Invitational on the PGA Tour. In 1971, he purchased Latrobe Country Club. He helped establish The Golf Channel and formed Palmer Course Design in 1972 with Ed Seay, which was later renamed Arnold Palmer Design Company in 2006. As a golf course designer, Palmer worked on over 300 courses in 37 states, 25 countries, and five continents. This includes the first modern golf course in China, which was built in 1988. In 1974, Palmer entered the car business by purchasing a Cadillac dealership in Charlotte, North Carolina, with Mark McCormack and Don Massey. He later acquired several other dealerships, including Arnold Palmer Motors, a Buick-Cadillac dealership in his hometown of Latrobe, which closed in 2017 after 36 years.
The Arnold Palmer Drink and Licensing Agreements
One of Arnold Palmer’s most well-known products is the “Arnold Palmer” drink, a blend of iced tea and lemonade. He often ordered this combination himself, and it has been marketed under the Arnold Palmer trademark by the AriZona Beverage Co. since 2002. The drink features Palmer’s picture and signature on the bottle, generating around $200 million a year, with royalties paid annually to Arnold’s estate. Other brands like Nestea, Lipton Brisk, and Snapple also sell this drink, but without the Arnold Palmer trademark.
Arnold Palmer’s Personal Life and Philanthropic Activities
Arnold Palmer was married to Winnie Walzer (1934-1999) for 45 years, and they had two daughters together. Winnie passed away in 1999 from complications due to ovarian cancer. Palmer’s grandson, Sam Saunders, is a professional golfer. In 2005, Palmer married Kathleen Gawthrop. To conquer his fear of flying, Palmer earned his pilot certificate and logged nearly 20,000 hours of flight time over 55 years. Palmer founded Arnie’s Army Charitable Foundation, which supports children and youth. The foundation contributed to the creation of the Winnie Palmer Hospital for Women & Babies Center, The Howard Philips Center for Children & Families, the Arnold Palmer Hospital for Children, and the Winnie Palmer Nature Reserve.
Arnold Palmer’s Real Estate Holdings
At the time of his death, Arnold Palmer owned two adjacent homes within Arnold Palmer’s Bay Hill Lakeside Club and Lodge. He also owned a home in La Quinta, California. In January 2025, his estate listed the La Quinta home for sale for $5 million. Specific details about the exact addresses of the Bay Hill properties are not publicly available.
