The competition was the final event in the PGA Tour’s season-long points race, with a second-placed finish enough for Thomas to win the trophy for the first time.
The likes of Tiger Woods, Jim Furyk, Jordan Spieth and Rory McIlroy have all previously won the FedEx Cup which was first awarded in 2007.
Thomas, 24, has impressively won five times on the Tour this season, including a maiden major at the US PGA Championship in August.
His compatriot Schauffele carded a two-under 68 in the final round to win the tournament by one shot from Thomas and upset the odds at East Lake Golf Club.
Open champion Spieth led the overall standings by 200 points at the start of the week, with Thomas, Dustin Johnson, Jon Rahm and Marc Leishman all in contention.
A late flurry from Thomas, including birdies at the 16th and 17th, was not enough to win during the week, but was enough to win the overall prize and a $10m payout.
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