Arnold Palmer, the golf legend who died last September at the age of 87, earned the vast majority of his fortune away from the golf course, via business endeavors, merchandising, and endorsement of products ranging from tractors to soft drinks. His will has become public, giving an insight into Palmer’s charitable donations and intents. The will and other supporting documents were filed in Orange County (Fla.) Circuit Court, and local television station WESH has reviewed the documents.
Palmer’s foundation, the “Arnie’s Army Charitable Foundation,” is seeking, and is expected to receive, $ 10 million from the estate to satisfy remaining pledges; there is no indication in the will of future endowments. The will also includes $ 10 million to Palmer’s wife Kathleen; $ 25,000 apiece to eight employees; and $ 5 million to satisfy outstanding creditors. The balance of the estate will be divided between Palmer’s two daughters.
Palmer’s entire estate, according to Forbes, is worth approximately $ 875 million. Palmer’s career earnings on the PGA Tour made up an infinitesimal fraction of that: $ 1.8 million, according to Golfweek.
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Jay Busbee is a writer for Yahoo Sports and the author of EARNHARDT NATION, on sale now at Amazon or wherever books are sold. Contact him at jay.busbee@yahoo.com or find him on Twitter or on Facebook.
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