The Masters 2024 prize money payout: How much did each golfer win from the $20,000,000 purse?and how master payout have increased over the years at Augusta National.
In Augusta, Georgia, major championships are different from the regular professional tour events. The top golfers do not participate in these four marquee tournaments solely for the monetary rewards, but rather for the prestige of winning trophies and achieving high placements, which often result in significant financial rewards.
Since the inception of the Masters tournament in 1934, the Augusta National Golf Club has consistently increased the cash prizes awarded to winners.
Throughout the 88 tournaments held so far, there have been 53 instances where the winner’s share has been raised, including in the most recent Masters event. Â
In 2024, the champion will receive $3.6 million, a significant increase from the $3.24 million earned by Jon Rahm in the previous year.  Â
Over the years, the first-place prize money payouts at the Masters have grown significantly, ranging from $1,500 to $3.6 million.
1934 – $1,500
Bobby Jones putts on the 8th green while Horton Smith watches in front of a gallery of patrons during the 1934 Masters Tournament at Augusta National Golf Club held March 22-25 in Augusta, Georgia. (Photo by Augusta National/Getty Images)
The first Masters, known as the Augusta National Invitation Tournament for the first five editions, featured a $1,500 winner’s share and a $5,000 purse.
1946 – $2,500
From Left To Right: Ben Hogan, Herman Keiser And Bobby Jones At The Presentation Ceremony Of The 1946 Masters Tournament (Photo by Augusta National/Getty Images)
From 1934-1946 the winner’s share was $1,500 before the first increase came in 1946 when the tournament returned from a two-year hiatus due to World War II.
1954 – $5,000
Bobby Jones (right) presents the silver cup trophy to Billy Joe Patton, the low amateur in the 1954 Masters Tournament at Augusta National Golf Club. Patton, who died Jan. 1 at age 88, finished one stroke out of a playoff between Ben Hogan (second from left) and champion Sam Snead (background).
It took nearly 10 years for the winner’s share to double and reach the $5,000 mark in 1954, where the purse was $25,000.
1958 – $11,250
Arnold Palmer, left, and Sam Snead rehash their third round play in the Masters Golf Tournament at the Augusta National Golf Club in August, Ga., April 5, 1958. Palmer and Snead wound up in a tie for the lead with a 54 hole total of 211.
Just four years later the winner’s share eclipsed $10,000 for the first time.
1979 – $50,000
1979 Masters
Fuzzy Zoeller puts on the green jacket after winning the 1979 Masters with Arnold Palmer and Gary Player looking on. (Photo: Augusta Chronicle)
The next major milestone came just south of 20 years later when the winner’s share reached $50,000.
1984 – $108,000
1983 Masters Champion Seve Ballesteros shakes hands with 1984 Masters Champion Ben Crenshaw at the Presentation Ceremony during the 1984 Masters Tournament at Augusta National Golf Club in April 15th, 1984 in Augusta, Georgia. (Photo by Augusta National/Getty Images)
In five years the winner’s share more than doubled to surpass the six-figure mark for the first time.
1989 – $200,000
Nick Faldo won the 1989 Masters in a playoff over Scott Hoch.
Another five years, another milestone as Nick Faldo banked $200,000 for his first of consecutive wins in 1989.
1998 – $576,000
Mark O’Meara of the US (R), the 1998 Masters Champion, points out part of the course to 1997 Masters Champion Tiger Woods (L) as they walk down the fifth fairway 03 April 2000 during the first practice round for the 2000 Masters Golf Tournament at Augusta National Golf Club in Augusta, GA.
In 1993 the winner’s share reached $306,000 and increased to $450,000 in 1996 before passing the $500,000 mark two years later in 1998 when Mark O’Meara won.
2001 – $1,008,000
Tiger Woods was the first million-dollar winner in 2001 when the winner’s share eclipsed the seven-figure mark. The total purse for the week was $5.6 million.
2019 – $2,070,000
Tiger Woods winner of 2019 Masters
Tiger Woods celebrates with the green jacket after winning the 2019 Masters at Augusta National Golf Club.
Getty Images
It took 18 years until the first place reached the $2 million mark when, once again, Tiger Woods emerged victorious.
2023 – $3,240,000
During the green jacket ceremony after the final round of The Masters golf tournament, Scottie Scheffler is next to Jon Rahm. Augusta National Golf Club Chairman Fred Ridley delivers a speech as they sit.
In 2023, Jon Rahm made history by earning $3.24 million in prize money, setting a new record.
Although the total purse for the event increased to $18 million, the record was soon surpassed.
2024 – $3,600,000
2024 Masters Tournament
In 2024, it’s a record winner’s share of $3.6 million and record total purse of $20 million.
| Year | Winner’s share |
| 2024 | $3,600,000 |
| 2023 | $3,240,000 |
| 2022 | $2,700,000 |
| 2021 | $2,070,000 |
| 2020 | $2,070,000 |
| 2019 | $2,070,000 |
| 2018 | $1,980,000 |
| 2017 | $1,980,000 |
| 2016 | $1,800,000 |
| 2015 | $1,800,000 |
| 2014 | $1,620,000 |
| 2013 | $1,440,000 |
| 2012 | $1,440,000 |
| 2011 | $1,440,000 |
| 2010 | $1,350,000 |
| 2009 | $1,350,000 |
| 2008 | $1,350,000 |
| 2007 | $1,305,000 |
| 2006 | $1,260,000 |
| 2005 | $1,260,000 |
| 2004 | $1,117,000 |
| 2003 | $1,080,000 |
| 2002 | $1,008,000 |
| 2001 | $1,008,000 |
| 2000 | $828,000 |
| 1999 | $720,000 |
| 1998 | $576,000 |
| 1997 | $486,000 |
| 1996 | $450,000 |
| 1995 | $396,000 |
| 1994 | $360,000 |
| 1993 | $306,000 |
| 1992 | $270,000 |
| 1991 | $243,000 |
| 1990 | $225,000 |
| 1989 | $200,000 |
| 1988 | $183,800 |
| 1987 | $162,000 |
| 1986 | $144,000 |
| 1985 | $126,000 |
| 1984 | $108,000 |
| 1983 | $90,000 |
| 1982 | $64,000 |
| 1981 | $60,000 |
| 1980 | $55,000 |
| 1979 | $50,000 |
| 1978 | $45,000 |
| 1977 | $40,000 |
| 1976 | $40,000 |
| 1975 | $40,000 |
| 1974 | $35,000 |
| 1973 | $30,000 |
| 1972 | $25,000 |
| 1971 | $25,000 |
| 1970 | $25,000 |
| 1969 | $20,000 |
| 1968 | $20,000 |
| 1967 | $20,000 |
| 1966 | $20,000 |
| 1965 | $20,000 |
| 1964 | $20,000 |
| 1963 | $20,000 |
| 1962 | $20,000 |
| 1961 | $20,000 |
| 1960 | $17,500 |
| 1959 | $15,000 |
| 1958 | $11,250 |
| 1957 | $8,750 |
| 1956 | $6,000 |
| 1955 | $5,000 |
| 1954 | $5,000 |
| 1953 | $4,000 |
| 1952 | $4,000 |
| 1951 | $3,000 |
| 1950 | $2,400 |
| 1949 | $2,750 |
| 1948 | $2,500 |
| 1947 | $2,500 |
| 1946 | $2,500 |
| 1942 | $1,500 |
| 1941 | $1,500 |
| 1940 | $1,500 |
| 1939 | $1,500 |
| 1938 | $1,500 |
| 1937 | $1,500 |
| 1936 | $1,500 |
| 1935 | $1,500 |
| 1934 | $1,500 |
