Tiger reaches $1B in net worth

Tiger Woods is officially in the billionaire's club.

The 15-time major champion's net worth is now estimated to be at least $1 billion, according to Forbes' Matt Craig. He joins Michael Jordan and LeBron James as the only known billionaire athletes.

Woods has taken home $1.7 billion in salary, endorsements, and other income before taxes and agents' fees over the course of his 27-year career, Forbes estimates. Despite accumulating more prize money than any other professional golfer in history, Woods' tournament winnings account for just 10% of his total earnings.

In addition to endorsement deals with the likes of Gatorade, Nike, and Rolex, Woods spearheads several business ventures, including the golf course design firm TGR Design, live events production company TGR Live, and The Woods Jupiter restaurant in Florida.

Woods announced Tuesday he won't compete at the upcoming U.S. Open, noting that his body "needs more time to get stronger."