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The prize money at the Masters has obviously changed drastically over the years. That’s what nine decades will do. And just how much of a change has there been, you may ask?

At the conclusion of the inaugural tournament in 1934, winner Horton Smith collected a check for $1,500. At the conclusion of the 2022 Masters, winner Scottie Scheffler collected a check for $2.7 million. That’s how much things have changed. But that’s not even my favorite.

How about this one? Jack Nicklaus played the Masters 45 times and won six green jackets. And do you know how much he made in his entire career at Augusta National? $912,359. That’s right — less than a million bucks for the greatest Masters champion of all time. The biggest winner’s check he collected was $144,000 in 1986. That’s what the prize was for 24th place in 2022. Pretty wild, right?

Believe me. I could sit here and go through examples like that all day long. But you’ve obviously come here to find out the top money winners in Masters history. So let’s get to it.

Eight of the top 20 leading money winners at the Masters now play for LIV Golf

LIV Golf players Dustin Johnson and Phil Mickelson during a practice round ahead of the 2023 Masters
LIV Golf players Dustin Johnson and Phil Mickelson chat during a practice round ahead of the 2023 Masters Tournament at Augusta National Golf Club on April 04, 2023 | David Cannon/Getty Images

Not shockingly, heading into the 2023 edition, five-time champion Tiger Woods currently sits atop the all-time Masters money list, just as he sits atop the all-time PGA Tour money list. And the guy in second place is also the same on both lists, that being Phil Mickelson.

Here’s a look at the top 20.

PlayerMasters AppearancesWinsEarnings
Tiger Woods245$9,588,236
Phil Mickelson293$8,189,317
Jordan Spieth91$5,271,828
Dustin Johnson121$4,576,475
Rory McIlroy140$4,157,521
Justin Rose170$4,142,765
Bubba Watson142$4,111,230
Adam Scott211$3,779,107
Hideki Matsuyama111$3,687,867
Lee Westwood210$3,687,748
Angel Cabrera201$3,528,357
Sergio Garcia231$3,426,530
Scottie Scheffler31$3,005,325
Charl Schwartzel131$2,951,201
Patrick Reed91$2,883,851
Fred Couples371$2,804,521
Vijay Singh291$2,627,805
Jose Maria Olazabal332$2,620,518
Cameron Smith60$2,619,468
Ernie Els230$2,533,343

So here are my takeaways from this list.

Again, it’s no surprise to see Tiger and Phil in the top two spots. But I probably wouldn’t have guessed Jordan Spieth at No. 3, not with just nine starts at the Masters under his belt. But that’s what a win and four additional top-3 finishes will do for you.

As I’m sure you noticed, Rory McIlroy, who needs only a win at Augusta National to complete the career Grand Slam, is the leading money winner of those without a Masters victory, just ahead of Justin Rose.

And one certainly has to take notice of Scottie Scheffler, who’s already in 13th place on the list after just three appearances. As mentioned, however, he collected $2.7 million for his victory in 2022, so that obviously bumped him up quite a bit.

Lastly, the presence of those who now tee it up for LIV Golf can’t be ignored. And it’s quite a prominent presence as two of the top four, four of the top 10, seven of the top 15, and eight of the overall 20 names on this list now play in the Saudi-backed series.

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