Masters Prize Money 2023 Increased to $18M as Brooks Koepka Leads; Winner Gets $3.24M

Whoever wins this year's Masters tournament will take home a nice chunk of cash. The prize money for the competition went up from $15 million to $18 million this year, according to Sports Illustrated's Bob Harig.

The winner of the tournament will reel in $3.24 million, a significant pay raise from the $2.7 million that Scottie Scheffler won last year at Augusta.

As of Saturday afternoon, Brooks Koepka was in great position to take home the top prize, holding a three-stroke lead over Jon Rahm at the top of the leaderboard during Round 3.

Koepka is looking to win his first green jacket and add to his lengthy list of accomplishments that includes two wins at both the PGA Championship and U.S. Open. He missed the cut at Augusta last year and is looking to bounce back in a big way in 2023.

His best finish was second place in 2019.

The prize money has of course grown as the Masters has become a bigger spectacle over the years. For the first few editions of the tournament, the winner received no more than $1,500.

It wasn't until 2001 that the top finisher won over $1 million when Tiger Woods took his second title by shooting 16 under.

It's been a quick escalation to the $3.24 million mark, as it was $2.07 million from 2019 to 2021 before a relatively small increase last year.

With five titles, the second-most in history, Woods is the all-time money leader at Augusta, earning $9.58 million in 24 starts. Phil Mickelson sits in second with $8.18 million.

Interestingly, Jack Nicklaus, who has the most wins in Masters history with six, isn't even in the top 20 as he's earned just $748,359—although he played in a time when the money was nowhere near where it is today.