Horton Smith won the first Masters in 1934 and in addition to going down in Augusta National lore as the inaugural champion, he also pocketed $1,500 for his historic win. Fast forward 90 years and Scottie Scheffler banked a record $3.6 million for winning his second green jacket in 2024.
The money has certainly changed over the years. Jack Nicklaus played in 45 Masters and made a record 37 cuts. His career earnings at the tournament are $772,359. Arnold Palmer, who played in 50 Masters and made 23 cuts, earned $204,013.
Leaderboard operators on the seventh hole during the final round of the 2024 Masters Tournament at Augusta National Golf Club.
Tiger Woods, who made the cut for a record-setting 24th consecutive time in 2024, held the top spot on the all-time money list for the Masters until 2023, when Phil Mickelson’s surprising tie for second made him the new No. 1 on this list. In 2024, Scheffler joined the top three.
Here are the top 20 money winners all-time at the Masters
Source: masters.com
20. Jose Maria Olazabal
José María Olazábal wears his green jacket after winning the 1994 Masters. Photo by Phil Sheldon/Getty Images
Jose Maria Olazabal won two Masters, in 1994 and 1999, was runner-up in 1991 and made the cut and tied for 45th in 2024 at age 58. He has won $2,677,718 in 35 starts.
19. Vijay Singh
Vijay Singh is presented with the green jacket by Jose Maria Olazabal after winning the 2000 Masters Tournament at the Augusta National Golf Club. Photo by Chris Smith/Getty Images
Vijay Singh won the 2000 Masters by three shots over Ernie Els. Singh has made $2,669,205 in 31 starts, including 2024 when he made the cut.
18. Fred Couples
Fred Couples hits out of a bunker on No. 12 during the first round of the 2024 Masters Tournament. (Photo: Katie Goodale-USA TODAY Network)
The 1992 Masters champ, Fred Couples, has made $2,850,601 in 39 appearances at Augusta National. He became the oldest golfer to make the cut in 2023.
17. Charl Schwartzel
Phil Mickelson slips the green jacket on Charl Schwartzel after he won the 2011 Masters Tournament at Augusta National Golf Club. Photo by ROBYN BECK/AFP/Getty Images
Charl Schwartzel won the Masters in 2011. He has made $2,951,201 in 15 starts.
16. Brooks Koepka
Brooks Koepka greets patrons after finishing his second round at the 2023 Masters. (Photo: Rob Schumacher-USA TODAY Network)
Brooks Koepka, the 54-hole leader in 2023, earned $1,584,000 for his tie for second. In nine Masters appearances, he’s earned $3,281,484.
15. Cameron Smith
Cameron Smith tees off on the 18th hole during the third round of the 2023 Masters. (Photo: Rob Schumacher-USA TODAY Network)
In eight appearances, Cameron Smith has made $3,411,668 at the Masters.
14. Sergio Garcia
Sergio Garcia, the 2017 Masters Champion, signs autographs during the finals of the 2018 Drive, Chip & Putt competition at Augusta National GC. Photo by Michael Madrid/USA TODAY Sports
Sergio Garcia has earned $3,426,530 in 25 Masters Tournaments. He won the tournament in 2017 in his 19th Masters appearance.
13. Angel Cabrera
Angel Cabrera celebrates after winning the 2009 Masters at Augusta National Golf Club April 12, 2009 in Augusta, Georgia. Photo by Tim Sloan/Getty Images
Angel Cabrera, the 2009 Masters champ, has made $3,527,257 in 20 appearances.
12. Lee Westwood
Lee Westwood hits a shot out of a bunker on the first hole during the final round of the 2011 Masters Tournament in Augusta, Georgia. Photo by Getty Images
Lee Westwood has made 21 Masters appearances and has won $3,687,748.
11. Patrick Reed
Patrick Reed holds up the trophy after winning the 2018 Masters Tournament at Augusta National Golf Club.
Patrick Reed won the Masters in 2018. In 11 appearances at Augusta National, he has won $4,032,850.
10. Adam Scott
Adam Scott dons the green jacket after his 2013 Masters win. (USA TODAY Sports)
Adam Scott has made 23 Masters appearances and has earned $4,033,807. He won the event in 2013.
9. Hideki Matsuyama
Dustin Johnson presents Hideki Matsuyama with the green jacket after winning the 2021 Masters. (Photo: Rob Schumacher-USA TODAY Sports)
Hideki Matsuyama has $4,034,867 in earnings in 13 appearances at Augusta National.
8. Bubba Watson
Bubba Watson won the 2012 Masters in a two-hole playoff. Photo by USA TODAY Sports
Bubba Watson has made 16 Masters appearances, won the tournament twice and has earned $4,111,230.
7. Rory McIlroy
Rory McIlroy and Collin Morikawa celebrate after they each holed out from the same bunker on consecutive shots during the final round of the 2022 Masters Tournament. (Photo: Michael Madrid-USA TODAY Sports)
Rory McIlroy has made 16 appearances in the Masters. His best finish at Augusta is fourth in 2015. He’s earned $4,333,021 all-time.
6. Justin Rose
Justin Rose walks to the 11th green during the final round of the 2017 Masters Tournament at Augusta National Golf Club. Photo by Rob Schumacher/USA TODAY Sports
Justin Rose has made 19 Masters appearances and has earned $4,403,768.
5. Dustin Johnson
Dustin Johnson walks to the no. 13 green during a practice round for The Masters golf tournament at Augusta National Golf Club. Mandatory Credit: Michael Madrid-USA TODAY Network
Dustin Johnson in 2020 won his first green jacket, a prize that was worth $2,070,00. He missed the cut in 2023 and 2024. He has earned $4,576,475 in 14 trips.
4. Jordan Spieth
Masters defending champion Bubba Watson places the Green Jacket on 2015 Champion Jordan Spieth at the 79th Masters Tournament at Augusta National Golf Club on April 12, 2015, in Augusta, Georgia. Photo by TIMOTHY A. CLARY/AFP/Getty Images
In 11 Masters appearances, Jordan Spieth has earned $6,015,828. He won the tournament in 2015. In 2023, he tied for fourth. In 2024, he missed the cut.
3. Scottie Scheffler
Scottie Scheffler walks with his caddie, Ted Scott, on No. 18 during the third round of the 2024 Masters Tournament. (Photo: Katie Goodale-USA TODAY Network)
He’s played in five tournaments at Augusta National and has two green jackets, winning in 2022 and 2024. He’s now third on the all-time Masters money list with $7,037,325.
2. Tiger Woods
Tiger Woods receives the green jacket from Patrick Reed in Butler Cabin as Augusta National chairman Fred Ridley and CBS announcer Jim Nantz look on at the Masters. (Rusty Jarrett/Augusta National/Handout Photo via USA TODAY Sports)
Tiger Woods has made $9,627,836 in 26 Masters appearances. Woods has five green jackets. He made the cut in 2024 for a record-setting 24th time. It’s also his 25th overall made cut at Augusta National.
1. Phil Mickelson
Phil Mickelson receives his Green Jacket from 2009 champion Angel Cabrera of Argentina after winning the 2010 Masters Golf Tournament at Augusta National Golf Club on April 11, 2010.
Phil Mickelson has earned $9,845,317 in 31 starts at the Masters, including $1,584,000 for a tie for second in 2023. He has won the event three times and has made 27 cuts.
This article originally appeared on Golfweek: Masters all-time money: Phil Mickelson, Tiger Woods top the list
