If there is a 3-way tie for 2nd place, then they take all the prize money normally awarded to 2nd, 3rd & 4th and add it up and divide it by three equally. Then the 5th place gets it's normal reward.
The Masters prize money is split according to a designated formula. In case of a tie for third place, the money prize for third and fourth place are averaged and awarded to the two players.
I think when the players enter they have to pay a fee. So they use the money from the fees to derermine the prize money. They probally also have people that donate money and sponsers that give money.
The simplest way to put it is, if there is $500,000 for second place and $300,000 for third place both players are tied for 2nd and receive $400,000 each. This is how it works the whole way down the field.
The prize money is $12, 550,000.
The prize money is $2,340,000
The question is misleading. How much prize money for what?
I think the biggest prize money is 1,100,000 in 2011 in wimbledon.
The tournament committee decides what percentage of the total purse each position will get. A tie for second will each get half of the prize money for 2nd and 3rd place.