Rich Dudes│How Dr. Phil's TV Empire Earned Him a $460M Net Worth

Rich Dudes│How Dr. Phil's TV Empire Earned Him a $460M Net Worth

Dr. Phil left his psychology practice to start his nine-figure talk show career after Oprah gave him his big break. Here's how Phil McGraw invests his money.

Rich Dudes│How Dr. Phil's TV Empire Earned Him a $460M Net Worth
Olumide Olajide

Updated Jan 9, 2023

Guy Ovadia

ByGuy Ovadia

Updated Jan 9, 2023

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Phillip Calvin McGraw, AKA Dr. Phil, is a well-known American television personality, author, and psychologist with a long-running talk show, Dr. Phil. In addition to his salary for hosting the show, Dr. Phil also receives a percentage of the show's profits and has made wise investments, like his company Stage 29 Productions which owns and produced the Dr. Phil show.

Dr. Phil reportedly earned up to $80 million annually on his shows.

Dr. Phil is not only a TV star but also a shrewd businessman who used his prowess to build his immaculate wealth. But how did a psychologist become the wealthy and successful TV personality we know today? Let's take a deeper look into the man behind the brand and find out just how Dr. Phil made and invested all that moolah.

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Dr. Phil net worth at a glance

Net worth

$460 million

Born

September 1, 1950

Became a millionaire at

52

Occupations

Psychologist, talk show host, author, and media personality.

Sources of wealth

Talk shows, book deals, and media companies.

Asset classes

Real estate, startups, and collectibles

How did Dr. Phil make his money?

Dr. Phil was born in Vinita, Oklahoma, on September 1, 1950. He was raised around oil fields in North Texas, where his father worked as an equipment supplier. Phil McGraw attended Shawnee Mission North High School in Overland Park, Kansas, before accepting a football scholarship at the University of Tulsa, where he played middle linebacker.

He later transferred to Midwestern State University where got his Master's degree in experimental psychology in 1976. He later got a Ph.D. in clinical psychology from the University of North Texas in 1979. Dr. Phil worked at private psychology practice for several years after graduating.

In 1976, Dr. Phil married his second wife, Robin Jo Jameson, long before he first appeared on television. Dr. Phil is still married to Robin, with whom he has two children, Jay and Jordan McGraw. Jay McGraw followed in his father's show business footsteps by working as a television producer and serving as president and CEO of Dr. Phil's production company.

Courtroom Sciences CSI

McGraw quit being a professional psychologist to found CSI Courtroom Sciences, Inc. in 1990. The company provided plaintiffs with settlement advice to help fight their court cases. After launching CSI, he kept his Phycholigist's license active until 2006.

Dr. Phil on the Oprah Winfrey Show

In 1995, Oprah hired Phil's company to assist her in a libel action she was facing after making derogatory remarks about meat while discussing mad cow disease on her show. In 1998, Oprah Winfrey invited Dr. Phil to appear on her program, which led to him making weekly appearances as a relationship and life strategy expert every Tuesday on The Oprah Winfrey Show.

Dr. Phil and Oprah Winfrey in a 2002 episode of 'The Oprah Winfrey Show.' 
Source: www.youtube.com/@OWN

How Phil McGraw got his own TV show

His early performances on Oprah’s show made him a household name and eventually led to the creation of his own show, which first aired in 2002. Today, The Dr. Phil Show is still broadcast and syndicated across the U.S.

Dr. Phil went on to produce TV series such as The Doctors, which focuses on health and medical issues, and Bull which is based on Dr. Phil's time working as a trial consultant for Courtroom Science, Inc. McGraw is also the author of a number of the best-selling relationship and diet books including Life StrategiesRelationship Rescue, and The 20/20 Diet.

Dr. Phil reportedly earned up to $80 million annually on his shows.

Dr. Phil with guests on his show, “Dr Phil” in 2002
Source: imdb.com

Dr. Phil investment portfolio 2023

Dr. Phil has invested his money in a variety of assets, including real estatestartups, and collectibles.

Real Estate

Dr. Phil's home in Beverly Hills, California is a testament to his financial success. The luxurious mansion located in one of the most prestigious neighborhoods in Los Angeles is worth an estimated $29.5 million.

Source: www.youtube.com/@Famous_Entertainment 

Investing in Real estate is popular because you can make money from both value appreciation and possibly rental income. Real estate can be a great way to diversify your portfolio with a tangible cash-flowing asset that can earn you stable passive income.

Equity Multiple is a platform that gives accredited investors access to vetted real estate deals. They charge low fees and do all the management and underwriting in-house, so you can just invest and enjoy 8% to 10% target returns. With multiple investment options and monthly dividend payouts, Equity Multiple is a great way to start building a diverse real estate portfolio with as little as $5K.

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Startups

Stage 29 Productions has been a lucrative venture for Dr. Phil. Stage 29 Productions produces the popular talk show Dr. Phil, which has aired on CBS since 2002. The company owns 100% of the show's content and pays CBS to distribute it in exchange for 50% of the advertising profits.

Source: www.youtube.com/@drphil

In total, the Dr. Phil show generates an estimated $43.3 million in revenue per year in advertising income. Based on that, it's reasonable to estimate that the Dr. Phil the show is valued at around $130 million, which makes it a significant contributor to Dr. Phil's net worth.

15 Minutes

Do you watch Dr. Phil?

Collectibles

Collectibles have been a small but crucial part of Dr. Phil's investment portfolio. He has money invested in various alternative asset classes like high-value watches and cars.

Dr. Phil's classic car collection includes a 1957 Chevrolet. The value of these types of cars can range from $32,000 to $90,000 depending on the model and condition. Dr. Phil's 1957 Chevrolet likely falls somewhere in the middle of this range, with an estimated value of around $55,000.

Dr. Phil has been seen riding his '57 Chevrolet in Beverly Hills.
Source: www.youtube.com/@TheHollywoodFix

One of Dr. Phil's flashiest investments is an 18-carat rose gold Rolex Daytona wristwatch. Similar Rolex watches retail between $45,000 and $55,000 depending on the condition and whether the dial has diamond-encrusted indices. Assuming Dr. Phil has the standard version with Everose dial and bracelet, then his Daytona is likely worth around $50,000.

Dr. Phil wearing a 40 mm Everose Rolex Daytona.
Source: www.rolexmagazine.com

Luxury watches can cost more than a down payment on a house, especially if you have a similar taste to Dr. Phil. Nowadays, you don't need Phil's net worth to invest in the same watches thanks to platforms like Rally.

Rally lets you buy and sell shares in luxury collectibles, including fine wine, designer handbags, and watches by brands like Rolex, Omega, and AP starting at the price of a latte. The best part is you can cash out whenever you want using their secondary marketplace.

Dr. Phil investment quotes

1. Have clear objectives

2. Diversify your income

3. Be risk-aware

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