2024 Masters Champion To Earn Less Than A LIV Golf Victory

Scottie Scheffler puts the Green Jacket on Jon Rahm — (Image credit: Getty Images)

While those still left in the 2024 Masters will be fully focused on the chance to don the Green Jacket and etch their name into Major championship history, it's fair to say the winner will also be taking home a rather handsome paycheck.

What's more, Augusta National has increased its purse, with the 2024 Masters prize money payout now totalling $20m. Of that total, the winner will receive a record $3.6m.

The overall purse for 2024 is an increase of $2m on the $18m that was on offer at the 2023 edition, when Jon Rahm saw off the challenges of Brooks Koepka to claim the trophy and earn $3.24m. That continued a trend of steadily increasing purses at the event, after Scottie Scheffler won $2.7m from the $15m available in 2022.

The new figure also matches the same prize money given out at PGA Tour Signature Events, as well as last year's US Open won by Wyndham Clark. However, despite those increases, the purse for this year's Masters remains $5m less than the cash available to the winner at regular LIV Golf events, which sees the player finishing top of the leaderboard claim $4m after each tournament.

In addition, if a player is part of the winning team come the end of the 54-hole event, they receive a further $750,000 bonus.

Phil Mickelson receives the Green Jacket from Mike Weir in 2004 — Phil Mickelson has currently won the most money in Masters history

Phil Mickelson is currently the highest-earning player in Masters history, in large part down to the three Green Jackets he has won. The six-time Major champion has taken home $9,773,317 in his 30 trips to Augusta National, with that figure set to increase after he made the cut at the 88th edition this week.

Despite only joining LIV in 2022, however, the American has already claimed $5,862,683 on the Saudi-backed circuit despite failing to win a single event and only notching up three top-ten finishes.

Ben joined Golf Monthly having completed his NCTJ in multimedia sports journalism at News Associates, London. He is now a freelance journalist who also works for The Independent, Metro, UEFA and Stats Perform.