That honor now belongs to LeBron James, who outworths Woods, $37 million to $36 million.
The Woods brand is down $10 million from last year, according to Forbes, which cites his split from Electronic Arts as a reason for the drop. It was nearly a year ago that EA Sports announced its golf title would no longer bear Woods' name after 14 previous versions of the game dating back to 1999. The new version of the game, simply called "PGA Tour," is due out in the spring of 2015.
Coming in one spot behind tennis star Roger Federer, Phil Mickelson appears at No. 4 on the list. The Lefty brand is up $4 million, from $25 million to $29 million, since last year. Forbes credits the uptick in value to sponsor bonuses Mickelson picked up following his 2013 British Open win.
Indian cricketer Mahendra Singh Dhoni, Olympic gold medalist Usain Bolt, soccer star Cristiano Ronaldo, five-time NBA Champion Kobe Bryant, another soccer star in Lionel Messi and another tennis star in Rafa Nadal round out the top 10.
The Forbes Fab 40 list is broken down into four categories: businesses, events, athletes and teams. The brand values are determined based on size and profitability.