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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

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Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster

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Elon Musk on MacKenzie Scott giving away $26 billion of her fortune: 'Sadly,' it makes the world a worse place
RetailJordan Spieth

Why Jordan Spieth’s U.S. Open win was huge for Under Armour

By
John Kell
John Kell
Contributing Writer and author of CIO Intelligence
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By
John Kell
John Kell
Contributing Writer and author of CIO Intelligence
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June 22, 2015, 11:34 AM ET
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Last years champion Bubba Watson helps Jordan Spieth put on the Green Jacket of the 2015 Masters Champion at the 79th Masters Golf Tournament at Augusta National Golf Club on April 12, 2015, in Augusta, Georgia. AFP PHOTO/JIM WATSON (Photo credit should read JIM WATSON/AFP/Getty Images)Photograph by Jim Watson — AFP/Getty Images
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Under Armour’s bet on golf phenom Jordan Spieth is looking like a very savvy investment indeed.

The 21-year-old golf prodigy won the U.S. Open over the weekend, his second major in a row in a victory that’s surely being celebrated by his athletic gear sponsor, Under Armour. Under Armour (UA) has backed Spieth since he turned professional, and even signed a 10-year sponsorship extension earlier this year for an undisclosed amount of money.

Spieth isn’t the only Under Armour athlete with big wins recently. NBA Point guard Stephen Curry, also an Under Armour athlete, took home his league’s championship with the Golden State Warriors — and brought his young daughter along to press conferences for some adorable antics. And ballerina Misty Copeland, who appeared in a widely watched Under Armour ad last year, is reportedly poised for a key promotion with the American Ballet Theatre.

But Spieth’s dominance on the green is particularly exciting. Last month, Under Armour CEO Kevin Plank told investors that part of the athletic gear maker’s success is attributed to signing athletes like Spieth, at times inking deals well before athletes are proven professional stars. Under Armour’s stock is up about 1.5% at noon ET Monday.

“Knowing that we have Jordan Spieth as the face of Under Armour Golf into the future solidifies our presence in the category,” Plank said.

Sponsorships are costly to big apparel and footwear makers like Under Armour. The company’s marketing costs jumped to $333 million in 2014 from $246.5 million in 2013, primarily due to increased global sponsorship of professional teams and athletes. But Under Armour justifies those costs by saying the sponsorship of high-performing athletes and teams results in a sales windfall due to high exposure at live sporting events, ad campaigns, and as athletes appear on television and on magazine covers.

About the Author
By John KellContributing Writer and author of CIO Intelligence

John Kell is a contributing writer for Fortune and author of Fortune’s CIO Intelligence newsletter.

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