It is indeed photoshopped.
And while attempting to find the original artist on the internet, I stumbled on this story where a real Santa Claus did die. I still haven't found the artist.
A man changed his name to Santa Claus so that ha could keep the spirit of Santa alive for children.Santa Story
I don't think I am able to find the artist, but I do hope this brings relief to those who worried.
And just to prove that Santa isn't dead, I found this scientific explanation.Santa Lives