NewsJune 1, 2017

Arnold Palmer's estate to be divided among charity, family and employees

AUGUSTA, GEORGIA - APRIL 07:  Honorary starter Arnold Palmer attends the ceremonial tee off to start the first round of the 2016 Masters Tournament at Augusta National Golf Club on April 7, 2016 in Augusta, Georgia.  (Photo by Andrew Redington/Getty Images)
Getty ImagesAUGUSTA, GEORGIA - APRIL 07: Honorary starter Arnold Palmer attends the ceremonial tee off to start the first round of the 2016 Masters Tournament at Augusta National Golf Club on April 7, 2016 in Augusta, Georgia. (Photo by Andrew Redington/Getty Images)

"Altruism" was a common refrain in the tributes to Arnold Palmer following his passing last fall. A sentiment seen in the division of the King's estate.

According to an Orlando NBC affiliate, "Arnie's Army" -- Palmer's charity that focuses on children, youth and families -- will receive a donation of $10 million from Palmer. Eight personal employees are awarded $25,000 each, with Palmer's widow, Kathleen, given $10 million.

The remaining assets -- Palmer's total estate was valued at $875 million -- will be divided between Palmer's two daughters.

In September, Forbes estimated Palmer had accumulated nearly $1.3 billion in lifetime earnings. At the time of his death, only Michael Jordan and David Beckham made more as retired athletes.


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