Former PGA Tour member, Phil Mickelson, is worth $300 million. He is a golf icon, and now that he is with LIV Golf, his worth will increase. But there was a time when this wealthy golfer had to suffer a loss. The reason he did this was surprising, but he still did it.
Yes, he sold his luxurious mansion at a loss. And not a small; it was a colossal loss back in 2015. Let’s find out what made Phil make this big decision and suffer the financial loss.
Phil Mickelson suffered a loss
We know the golf icon, Phil Mickelson for his luxurious liking. And this was clear with his huge mansion. He brought it for 5.9 million in 2001 and sold it for 5.7 in 2015. Keeping into account the inflation back in 2015, it was a substantial financial loss. But now the question arises, why Phil had to go ahead with such a decision. This may come as a shock to you, but he had plans to shift to Florida.
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We know that big names in the golf world, like Tiger Woods, Justin Thomas, Rory McIlroy, and so forth, live in Jupiter Island, Florida. It is like a golf hub. Phil was apparently planning to move there. But why he wanted to leave California after living there for so many years? Again, the reason was financial. He suffered a financial loss earlier, so he didn’t have to do it in the future.
Reason for Mickelson’s shift
Phil is living in Rancho Santa Fe, California. It is a census-designated place situated in San Diego County. There is no set date yet, but he will soon move to Florida. The only reason he is moving to Florida is the tax rates. The tax rates are high in California, so Florida is his destination.
In 2013, he said that since some changes were done by the states fiscally, he would have to make some drastic decisions too. Hence, moving to Florida. He also mentioned that Florida is a fun place. And Jupiter island has many good things. So this decision overall will be a good one.
Watch this story- After Extensive Public Outrage, Phil Mickelson Finally Finds Vindication in the Heart of a PGA Tour Pro
Well, we wish Phil luck with his decision. He suffered the loss to make this decision; it’s commendable; not everyone can do it. What do you think about his decision? Let us know in the comment section.
The post $300M Worth Phil Mickelson Once Sold His Luxurious Mansion at a Loss Due to 1 Major Reason appeared first on EssentiallySports.
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