How much is Dr. Phil worth?
|Net Worth:||$450 Million|
|Profession:||Professional TV Host|
|Date of Birth:||September 1, 1950|
|Country:||United States of America|
About Dr. Phil
Philip Calvin McGraw was born on September 1st in 1950. He is a born and raised Texan as well as a TV personality and former psychologist. He rose to fame towards the end of the 90s when he started to appear on the Oprah Winfrey Show. With Oprah’s help, he would start his own show, which would propel him into a world of fame, wealth and global recognition. Soon after it’s inception, Dr. Phil, the advice shows that he stars in would bring in millions of viewers from all around the world.
He and his father share the same passion in life. They both wanted to become successful psychologists. His family moved all around the States in the hope that somewhere his father would finally fulfill his ambition. Dr. Phil was a good athlete in his youth and especially excelled playing linebacker in football. He even got a scholarship to play for the University of Tulsa. He would only stay at the Uni of Tulsa for a year where his college suffered one of the worst defeats in the history of college football. He would get his bachelors, masters, and finally a Ph.D. in clinical psychology at the University of Northern Texas.
As of 2020, we estimate Dr. Phil has a net worth of $450 million dollars.
How did Dr. Phil get so rich?
After he finished his education he started to work with his father and a businesswoman named Thelma Box. They created sets of seminars, where people were promised help to reach new heights on both a personal and a professional level. Critics of both Dr. Phil and Oprah will look at those seminars, later named Pathways, and detect all kinds of terminologies that were later used on The Oprah Show later on. A few years after the seminars started to take off, Dr. Phil wanted a break from the organization and Thelma Box in particular. That is why he sold his stock in the seminars for $325,000 thousand dollars. Thelma Box would create her own seminar following the split with the McGraws.
His next successful venture was Courtroom Science Incorporated, or CSI, a litigation-psychology consulting company. After a few successful consulting cases the company started to take off. Soon many famous companies and clients from the Fortune 500 list employed their services. It was with the help of the rise of this company that Dr. Phil would finally meet Oprah. The TV show Bull is largely based on Dr. Phil and his experiences during his time as a trial consultant. Dr. Phil is a producer and adviser on the show.
Oprah Winfrey needed a consulting company for her Amarillo Texas Beef Trail. A few associated suggested CSI. Oprah was supremely impressed by the firm and Dr. Phil in particular. She to this day claims that without him she would not have won that trial. After Oprah won the trial in 1998, Dr. Phil started to appear on her show. He used the new limelight and started to write self-help books which he in turn promoted on her show. His first bestseller was named Life Strategies. For the next few years, all until he got his own show in 2002, he would publish one self-help book per year, all of them bestsellers.
His show saw the light of day in 2002, with a lot of help and backing from Oprah. The show is a huge success and is still on TV. The shows format is that of an advice show with an average episode of 45 minutes. But, Dr. Phil and his many guests don’t give only advice on psychology, but they give a more rounded holistic approach to improving the lives of their guests.
Similar to the also Oprah backed show, Dr. Oz, the Dr. Phil show is used to promote products, often fad products. Dr. Phil even promoted his own weight loss products. But that was one of his biggest failures and mistakes. Even the federal government had to get involved. Soon, to avoid further scandals, he dropped the products. He also settled with a lot of people who didn’t experience any weight loss after using his products for years. The settlement with clients was a reported $10 million dollars.
Dr. Phil has created his own production company and has tried to create a lot of shows of his own. But, the vast majority of the TV shows that they did create were knockoffs of successful shows and they were either canceled after or during their first season. But based on his show and his books, he still manages to earn around $80 million dollars a year.
What makes him so successful?
Dr. Phil is a hard-working guy who has a knack for promotion, making money, and leveraging the right connections.
It takes a lot of work, study, focus, and determination to finish college and especially to get a Ph.D., especially in medicine. He was also hard working in other venues. While he had sporting ambitions he excelled as a football player and even got a scholarship to a good university. The football thing didn’t pan out, but he shifted his focus to psychology. He knew that a lot of people in the US want and need help in some form of guidance. That is why he started to write books and give seminars.
And finally, he knew how to impress the important people that he met. His friendship with Oprah has opened so many doors for him. Without her, he would still be successful, but he would not be the worldwide icon and multi-millionaire that he is today. But he kept pushing. For Dr. Phil, it is not how much you’ve got, it is just about taking advantage of every opportunity that comes your way.
We calculate Dr. Phil is worth $450 million dollars in 2020.
The son of a wannabe psychologist has become one of, if not the most famous psychologists in the world. A hard-working man, he pushed himself into all kinds of ventures, learning from his failures, never afraid to start a new one. Win or lose he keeps pushing on, with steel-hard determination. Dr. Phil is a global phenomenon that rose like a phoenix from the ashes of a failed football career and a struggling family, which was always on the move.