Dr. Phil Calvin McGraw, famously known as Dr. Phil, has a $460 million net worth. Let’s read to the end to understand his early life, how he rose to be a celebrity in the media industry, how he gained his wealth, among other life-history events.
Table of Contents
Personal Information
Net Worth: $460 Million
Full Name: Philip Calvin McGraw
Nick Name: Dr. Phil
Date of Birth: 1st September 1950
Place of Birth: Vinita, Oklahoma, U.S.
Age: 71
Professional Occupation: Psychologist
Other Occupations: Author, Television Host
Marital Status: Married
Wife: Debbie Higgins McCall, Robin Jo Jameson
No. of Children: 2
Early Life and Education of Dr. Phil
Born on 1st September 1950 in Vinita, Oklahoma, U.S., Dr. Phil grew up in oil fields, where his father was an equipment supplier. His family moved from Vinita, Oklahoma, when Dr. Phil was still a child to allow his father to become a psychologist, where he later enrolled in Shawnee Mission North High School, Kansas.
After his early education, he joined the University of Tulsa in 1968, having been given a football scholarship. Here, he played a role of a middle linebacker, and he is on history as one of the team members that lost a match to the University of Houston.
He later transferred to Midwestern State University in Wichita Falls, Texas, where he earned a Bachelor of Arts Degree in Psychology in 1975. From the University of North Texas, he earned a Master’s Degree in experimental psychology in 1976 and a Ph.D. in Clinical Psychology later in 1979.
The career of Dr. Phil
After graduating, he worked as a private practitioner for several years. In the year 1990, he later founded CSI Courtroom Sciences, Inc., an organization to advise corporations and individual plaintiffs on the best way to achieve settlements. When CSI became fully established, he stopped practicing psychology.
Phil’s CSI Company was hired in 1995 by Oprah as she was seeking a piece of advice on the libel lawsuit she was seeking after making weary comments over beef on her show that was relating to Mad Cow Disease. He could later be invited by Oprah to her show, “The Oprah Winfrey Show” in 1998, after which he became a regular co-host in the show as a Relationship and life strategy expert on Tuesdays. The earlier appearances on the show gained Dr. Phil national recognition and fame that drove him to establish his own show, “The Dr. Phil Show,” in 2002 and still on air to date.
Business Ventures
In 2003, he ventured into a weight-loss business selling shakes, energy bars, and supplements. He featured these products on his TV show and used his two sisters, Brenda and Deana, together with his Nephew Tony to give the products testimonials on how best they -worked. He marketed the weigh-loss products using the phrase, Shape It Up, Woo Woo.
In his adverts, Dr. Phil claimed that the products could help you change your behavior to control your weight, which made the Federal Trade Commission be on his case. Due to scrutiny by the Federal Trade Commission, Dr. Phil dropped these supplement products off the market in 2004, after which FTC dropped the case. In 2005, he was sued by the clients who used his products and did not lose the weight as promised where; he settled the lawsuit in 2006 for a cost of $10.5 million, but $6 million was paid to the plaintiffs in the form of Amway brand vitamin.
He and his son Jay McGraw produced the “The Doctors” the “Dr. Phil” spinoff in 2008. It became the first third-generation show since Dr. Phil spun off the “Oprah Winfrey Show.”
This show is hosted by ER Doctor and former “Bachelor” participant Travis Stork.
He is a renowned author of several best-selling books based on relationship and diet. The books include;
- Relationship Rescue
- The 20/20 Diet
Personal Life of Dr. Phil
Twenty years later, after his birth, he married Debbie Higgins McCall, marriage annulled after three years. He later dated Robin Jo Jameson and later married her in 1976, and together, they had two children, Jay and Jordan.
He is also a pilot flying privately and has an instrument rating of flying single-engine airplanes. You will also find Dr. Phil’s name as the Dr. Phil Foundation founder, a foundation put forward to fight obesity.
How Dr. Phil Gained His Net Worth
He ranks as one of the highest-paid TV personalities. On his highest earnings, he was being paid an annual payment of $88 Million annually. Here is a breakdown of how he gained his net Worth per year;
- 2006, he earned $45 Million
- 2008, his income dropped to $30 million
- 2011 he earned $80 million
- 2012 he made $64 million
- 2014 made $77 million
- 2015 he earned 70 million
- 2016 he made $77.5 million
As of 2019, his TV show earned him an annual income of $80 million, and between 2018 June and 2019 June, Dr. Phil earned a total of $ 95 million.
He made various investments that he later sold at a profit.
Dr. Phil’s Net Worth
To date, he has a net worth of $460 Million.
He also has many other different mentions on his career still existing in different fields.