Rory McIlroy's winnings fall by €8.1m as he drops down 19 places on Forbes rich list
Rory McIlroy has dropped 19 places - not in the world golf rankings, but in the Forbes annual celebrity rich list.
Forbes has reported that although the 27-year-old golfer earned a $42.5 million (€38.4m) fortune over the last year, his takings on the golf course have dropped by $9m (€8.1m).
In 2015 Forbes placed McIlroy at number 41 in the world's 100 richest celebrities. The Co Down golfer has now dropped to 60, just behind American actor and director Ben Stiller and Columbian TV actress Sofia Vergara, who both earned $43m (€38.4m).
Despite taking a dip in earnings Forbes said McIlroy "continues to be a bankable marketing star" with his sponsorship deals providing steady revenue.
An article on Forbes's website stated: "Nike, his biggest endorsement deal, pays nearly $20m (€18m) annually. He also partners with Omega, Bose and Upper Deck. McIlroy replaced Tiger Woods as the face of Electronic Arts' golf video game last year."
It continued: "He also settled a messy lawsuit last year with former agents who accused him of owing millions of dollars in commissions."
Top of the celebrity rich list is Nashville singer Taylor Swift who amassed $170m (€153.5m) over the last year.
Forbes reported that the pop superstar smashed The Rolling Stones' North American touring record, grossing $200m (€180m) on the continent en route to a quarter-of-a-billion dollars in total for her 1989 World Tour. As if that wasn't enough, she also enjoys lucrative deals with Diet Coke, Keds footwear and Apple.
Taking the number two spot was the recently split boy band One Direction who earned $110m (€99.3m) after their On The Road Again tour took home more than $200m.
Meanwhile, McIlroy has said that he won't even watch the golf at the Rio Olympics after pulling out of the tournament himself citing concerns over the Zika virus.
Not mincing his words, he said he would instead be focusing on "stuff that matters".
Other high-profile golfers such as Jordan Spieth have also withdrawn from the Olympics.
Although it is the first time golf has been included in the Games since 1904, McIlroy is standing by his decision.
"I don't feel like I've let the game down at all," he said. "I didn't get into golf to try to grow the game, I tried to get into golf to win championships and win major championships.
"I'm very happy with the decision I've made, I have no regrets about it."