The total prize money for the 2014 tournament was $9,000,000, with $1,620,000 going to the winner.[35] In the inaugural year of 1934, the winner Horton Smith received $1,500 out of a $5,000 purse.[36] After Nicklaus's first win in 1963, he received $20,000, while after his final victory in 1986 he won $144,000.[37][38] In recent years the purse has grown quickly.