Scottie Scheffler has added to his impressive net worth after winning The Open at Royal Portrush on July 20.
The world No. 1 golfer, who is estimated to be worth around $110 million, claimed the top prize of $3.1 million out of the $17 million on offer for the players at this year's Open.
The Open prize money
However, Scottie won't walk away with the full amount as he is set to lose over half of his winnings.
Like all the golfers taking home prize money, Scottie will have to pay tax on his earnings, which, according to UK tax laws, will be at a rate of 45%.
In the UK, any income over £125,140 ($168,822) is subject to an additional tax rate of 45%, meaning Scottie will pay $1.39 million of tax on his earnings, taking his total prize down to $1.71 million, per Sport Bible.
All is not lost, though, as the site reports that Scottie will be able to offset that amount against his US tax liability using Form 1116 to claim foreign tax credit when filing with the IRS.
Scottie's latest win makes it his fourth major title, and he now needs to win the US Open to complete a career grand slam.
After taking the title, Scottie said: "Thank you to the fans. I know I wasn't the fan-favourite today, but I did hear a lot of 'USA' chants, so I appreciate that. It's been a great week; the support was tremendous."