Tiger Wood’s isn’t the only one having to pay big bucks for his mistakes, shareholders in the companies Tiger endorses or in many cased used to endorse are already experiencing losses far in excess of Wood’s own sizable fortune according to a new study.
Shareholders in these companies have lost a net total of up to $12 billion in the aftermath of Wood’s ousting as a chronic womanizer, according to a study at University of California, Davis.
The study examined eight sponsors, Accenture, At&T, Tiger Woods PGA Tour Golf, Gilette, Nike, Gatorade, TLC Laser Eye Centers and Golf Digest and compared 13 days of market returns after the scandal was exposed with their numbers before the first exposing incident.
The cheating scandal according to the results cut shareholder value in the above by 2.3 percent, or a total of $12 billion. Looks like the soon-to-be former Mrs. Woods isn’t the only person with reason to be furious at the champion golfer.
Investors in the three sports-related companies (Tiger Woods said.
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