‘Chaebol Caddy’ Emerges... Prize Bonus Alone Reaches 7 Billion Won

Schaeffler Caddie Scott Earns Huge Incentive
PGA Tour Prize Money Ranking Around 20th This Year
Woods' Assistant Williams, the 'Original Emperor Caddie'

The era of the ‘chaebol caddie’ has arrived.

World No. 1 Scottie Scheffler and caddie Ted Scott are celebrating after securing victory at the FedEx Cup Playoffs final third round Tour Championship. [Atlanta=AFP·Yonhap News]

This is the story of Ted Scott (USA), who carries the caddie bag for world No. 1 Scotty Scheffler. The American Golf Channel recently reported that Scheffler’s caddie Scott has hit the jackpot. Scheffler swept up an incredible seven wins this year, including victory at the final third FedEx Cup Playoffs (PO) Tour Championship on the PGA Tour. Scheffler’s prize money this year alone amounts to $54,228,357 (approximately 72.4 billion KRW). Adding the $8 million Comcast Business Tour bonus for finishing first in the PGA Tour regular season FedEx Cup rankings brings his official earnings to $62,228,357 (approximately 83.1 billion KRW).

The Golf Channel estimated Scott’s income. Although the exact contract terms between Scheffler and Scott are unknown, PGA Tour players and caddies typically agree on a ‘10-7-5’ split. This means the caddie receives 10% of the winner’s prize money as a bonus, 7% for a top 10 finish, and 5% for making the cut. Scheffler played in 19 tournaments this year, finishing in the top 10 sixteen times, including winning the Masters. He was never cut from any event. If Scott’s contract followed these terms, he would have earned $5,238,499 (approximately 700 million KRW).

This amount corresponds to 20th place on the official PGA Tour prize money rankings. Only 19 players earned more money on the course than Scott. The 19th place on the prize money list ($5,254,412) is Mathieu Pavon (France), and 20th place ($5,138,310) is Brian Harman (USA). Russell Henley, Billy Horschel, Justin Thomas, Cameron Young, Max Homa (all USA), Adam Scott (Australia), Viktor Hovland (Norway), Kim Si-woo, and Kim Joo-hyung also earned less prize money than Scott.

Scott earned about $2.6 million (approximately 350 million KRW) last year as well, more than players who did not rank within the top 70 in prize money. Scott’s income skyrocketed this year thanks to Scheffler’s Tour Championship victory. Scheffler received a $25 million bonus for winning the Tour Championship, and 10% of that, $2.5 million, was deposited into Scott’s account. Before this, the tournament where Scott earned the most money was The Players Championship, known as the ‘fifth major’ and the highest-paying event in the PGA Tour regular season with a total purse of $25 million. It is estimated that Scott took home 10% of Scheffler’s $4.5 million winner’s prize, about $450,000. If Scheffler gave Scott an additional bonus from the Comcast Business Tour prize money, Scott’s income would be even higher.

Scott previously caddied for long hitter Bubba Watson (USA), helping him win the Masters in 2012 and 2014. He also briefly ran a golf lesson business. Since November 2021, he has been accompanying Scheffler. Before meeting him, Scott had collaborated on 10 PGA Tour wins. He met Scheffler, known as a devout Christian, at a Bible study group. After receiving Scott’s help, Scheffler hit his stride. In February 2022, just six months after Scott joined, Scheffler won his first title at the ‘golf liberation zone’ Phoenix Open, then took the Arnold Palmer Invitational and the World Golf Championships (WGC) Dell Match Play in March, and the major Masters Tournament in April. All four tournaments are ‘premier matches.’ Scott is the ‘kingmaker’ who propelled Scheffler to world No. 1 in just six months.

Tiger Woods and Steve Williams worked together for an impressive 12 years, achieving a total of 72 wins, including 13 major victories.

Before Scott, there was the ‘original emperor caddie’: Steve Williams (New Zealand), who worked with ‘Golf Emperor’ Tiger Woods (USA). From 1999 to 2011, they achieved 72 PGA Tour wins, including 13 majors. During this period, Williams earned over $1 million annually, and Woods generously gifted him prizes such as cars, making his haul even more lucrative. Their relationship soured after Williams briefly caddied for Adam Scott (Australia) during Woods’ 2011 ‘sex scandal,’ leading to their split.

In October 2011, Woods found another ‘life caddie,’ teaming up with ‘elite caddie’ Joe LaCava (USA). LaCava said, “I wanted to work with Tiger,” and chose to join the ‘setting sun’ Woods over the ‘rising star’ Dustin Johnson (USA). The gamble paid off with three wins in 2012 and five in 2013. LaCava stayed by Woods’ side during his 2014?2017 hiatus and was with him when he triumphed at the 2018 Tour Championship and the 2019 Masters Tournament. He was also present when Woods returned to the Masters Tournament in February 2021, 14 months after his car accident. Currently, Woods has amassed 82 PGA Tour wins (tied for first), including 15 majors (second place).

Harry Diamond (Northern Ireland), who carried the bag for world No. 3 Rory McIlroy, is another caddie who made big money. They have been childhood friends, with Diamond serving as a groomsman at McIlroy’s wedding. When McIlroy hit the ‘$15 million jackpot’ at the 2019 FedEx Cup Playoffs, he immediately wired $1.5 million (approximately 2 billion KRW) into Diamond’s account. McIlroy continued his generosity during the COVID-19 pandemic in 2020. When strict quarantine rules in the U.S. made it difficult for Diamond to travel back and forth to Northern Ireland, McIlroy gifted him a house.