As per some Forbes, Steinberg earned $20.2 million from commissions in 2020. In comparison, the average earnings of a PGA Tour player in 2021 were $1,485,055. Steinberg really does have healthy annual earnings!
Additionally, the $20 million mark is only for commissions. Steinberg’s actual income would be difficult to calculate, considering he could have other modes of income. He also has around 35 clients, who have contracts worth $101.2 million.
Any agent takes home 20%, which solely depends on how the player does. This means that even if a player does not win, the agent can earn more on the basis of their endorsement deals away from the course.
Along with being Woods’ manager, Steinberg and Woods both joined Excel Sports in 2011. Today, it is apparently the world’s third most valuable agency. Steinberg is a partner with the management company, making it another prominent source of his income.
Steinberg and Woods started working together in 1998. Woods was looking for a new agent and met Steinberg when he needed him. They hit it off immediately, and have stuck together since then