Golf tournaments are a popular sports event that attracts many golf enthusiasts and professionals alike. The prize money for these tournaments can range from a few million dollars to tens of millions of dollars.
According to the PGA Tour, there are 47 official tournaments on its 2021-2022 schedule with prize money totaling $481,050,000.
The purse for each tournament varies, with the smallest purse belonging to the Puerto Rico Open, played opposite the WGC-Dell Technologies Match Play in March, as well as the Bermuda Championship and Corales Puntacana Resort and Club Championship, with a purse of $3.7 million.
The largest purse belongs to The Players Championship, which now boasts a $20 million purse. The U.S. Open has the largest purse of the four major championships, with a purse of $12 million.
1. The Masters ($18 Million)
- Location: Augusta National Golf Club, Augusta, Georgia, USA
- Prize Money: The total purse was $18 million in 2023.
The Masters Tournament is one of the most prestigious golf tournaments in the world. The tournament is held annually at the Augusta National Golf Club in Augusta, Georgia, USA.
The prize money for the 2023 Masters Tournament was a record-breaking $18 million, which is a $3 million increase from the previous year.
The winner of the tournament receives a whopping $3,240,000. The prize money is distributed among the top 50 players, with the runner-up receiving $1,944,000 and the third-place finisher receiving $1,224,000.
The rest of the prize money is distributed among the remaining players based on their final standings.
2. The Open Championship ($16.5 Million)
- Location: Various courses in the United Kingdom
- Prize Money: The total purse was $16.5 million in 2023.
The Open Championship is one of the four major golf tournaments held annually. The 2023 Open Championship was held at the Royal Liverpool Golf Club in Hoylake, England.
The total prize money for the tournament was $16.5 million, which is an 18% increase from the previous year. The winner of the tournament received a prize money of $3 million.
The prize money is distributed among the top 70 players, with the runner-up receiving $1,708,000 and the third-place finisher receiving $1,095,000.
The rest of the prize money is distributed among the remaining players based on their final standings.
3. The U.S. Open ($20 Million)
- Location: Various courses in the United States
- Prize Money: The purse was $20 million in 2023.
The U.S. Open is one of the four major golf tournaments held annually. The 2023 U.S. Open was held at The Los Angeles Country Club in Los Angeles, California.
The total prize money for the tournament was a record-breaking $20 million, which is the highest among all the major championships and on the same level as the PGA Tour’s elevated events.
The winner of the tournament received a prize money of $3.6 million. The prize money is distributed among the top 70 players, with the runner-up receiving $2,160,000 and the third-place finisher receiving $1,413,430.
4. The PGA Championship ($17.5 Million)
- Location: Various courses in the United States
- Prize Money: The purse was $17.5 million in 2023.
The PGA Championship is one of the four major golf tournaments held annually. The 2023 PGA Championship was held at Oak Hill Country Club outside Rochester.
The total purse for the tournament was $17.5 million, which is a 16.7% increase from the previous year.
The winner of the tournament, Brooks Koepka, received a prize money of $3.15 million. The prize money is distributed among the top 70 players, with the runner-up receiving $1,890,000 and the third-place finisher receiving $1,190,000.
Furthermore, the PGA Tour has announced that the 2024 FedExCup season will feature an increased number of no-cut events with the winner receiving a record $25 million prize.
The four majors are included in the schedule which will also feature eight ‘signature events’ that will have a limited field.
The 36-event season will begin in January with the ‘Opening Drive’ double-header at The Sentry and the Sony Open In Hawaii and conclude in August with the Wyndham Championship.
5. The Players Championship ($25 Million)
- Location: TPC Sawgrass, Ponte Vedra Beach, Florida, USA
- Prize Money: The purse was $25 million in 2023.
The Players Championship is an annual golf tournament held on the PGA Tour. The 2023 Players Championship was held at TPC Sawgrass in Ponte Vedra Beach, Florida.
The total prize money for the tournament was a whopping $25 million, which is the highest among all the PGA Tour events.
Moreover, the winner of the tournament, Scottie Scheffler, received a prize money of $4.5 million.
The prize money is distributed among the top 70 players, with the runner-up receiving $2,725,000 and the third-place finisher receiving $1,475,000.
6. The Memorial Tournament ($20 Million)
- Location: Muirfield Village Golf Club in Dublin, Ohio
- Prize Money: The purse was $20 million in 2023.
The Memorial Tournament was founded in 1976 by Jack Nicklaus and is played at the Muirfield Village Golf Club. The tournament is part of the PGA Tour and is recognized as one of the most prestigious events on the tour.
The prize money for the 2023 Memorial Tournament was a whopping $20 million. The winner of the tournament, Viktor Hovland, took home a first-place prize money payout of $3.6 million.
The prize money payouts for every golfer who made the cut are listed below:
| Position | Prize Money Payout |
| Winner | $3,600,000 |
| Runner-up | $2,180,000 |
| Third | $1,380,000 |
| Fourth | $980,000 |
| Fifth | $772,500 |
| Sixth | $650,000 |
| Seventh | $545,000 |
| Eighth | $410,000 |
| Ninth | $410,000 |
| Tenth | $310,000 |
It is worth noting that the prize money payout breakdown shows a payout of 18 percent of the purse to the winner. The prize money payouts for each PGA Tour player are guaranteed down to the last-place player, who gets $24,600.
7. The Tour Championship ($75 Million)
- Location: East Lake Golf Club, Atlanta, Georgia, USA
- Prize Money: The purse was $18 million in 2023.
The Tour Championship is a professional golf tournament that takes place annually in Atlanta, Georgia, United States. The tournament is part of the PGA Tour and is the final event of the FedEx Cup Playoffs.
The prize money for the 2023 Tour Championship was a whopping $75 million. The winner of the tournament, Viktor Hovland, took home a first-place prize money payout of $18 million.
Not only that but the prize money payout breakdown shows a payout of 24 percent of the purse to the winner. The payouts for each PGA Tour player are guaranteed down to the last-place player, who gets $500,000.
8. The Arnold Palmer Invitational ($20 Million)
- Location: Bay Hill Club & Lodge, Orlando, Florida, USA
- Prize Money: The purse was $20 million in 2023.
The Arnold Palmer Invitational is a professional golf tournament held annually in Florida, United States. The tournament is named after Arnold Palmer, one of the greatest golfers of all time. The event is part of the PGA Tour and is usually held in March.
In 2023, the Arnold Palmer Invitational had a total purse of $20 million. The winner of the tournament, Kurt Kitayama, received a prize money payout of $3.6 million.
It was founded in 1979 as a successor to the Florida Citrus Open Invitational which debuted in 1966 and was played at Rio Pinar Country Club, east of Orlando, through 1978.
Since 1979, the tournament title has had several different names, most of them including 'Bay Hill,' but has played under the Palmer name since 2007.
9. The FedEx St. Jude Championship ($20 Million)
- Location: TPC Southwind, Memphis, Tennesse
- Prize Money: The purse was $20 million in 2023.
The FedEx St. Jude Championship is a professional golf tournament that is part of the PGA Tour. It is usually held in August at the TPC Southwind course in Memphis, Tennessee.
The tournament was founded as the Westchester Classic in 1967 and has been played as the first tournament of the playoff system for the FedEx Cup since 2007.
In 2023, the FedEx St. Jude Championship had a total purse of $20 million. The winner of the tournament, Lucas Glover, received a prize money payout of $3.6 million.
10. Dell Technologies Match Play ($20 Million)
- Location: Austin Country Club, Austin, Texas, USA
- Prize Money: The purse was $20 million in 2023.
The Dell Technologies Match Play is usually held in March at the Austin Country Club in Austin, Texas. The tournament was founded in 1999 and has been played in a match-play format since then.
In 2023, the Dell Technologies Match Play had a total purse of $20 million. The winner of the tournament, Sam Burns, received a prize money payout of $3.5 million.
Austin Country Club is a par-71 track that stretches just north of 7,100 yards with Bermudagrass greens.
Both bombers and short-game specialists alike have found success here in the past which makes this course a perfect fit for the chaotic Match Play event.
