Phillip Calvin McGraw, born September 1, 1950, and known as Dr. Phil, is an American television personality and author. He holds a doctorate in clinical psychology but stopped renewing his license in 2006. McGraw gained fame through appearances on The Oprah Winfrey Show in the late 1990s.
With Oprah Winfrey’s help, he launched his own show, Dr. Phil, in September 2002. The show, which focuses on offering advice and counseling to guests, quickly became a success and solidified his place as a leading TV personality.
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Phil McGraw’s Net Worth
Phil McGraw has a net worth of $460 million, making him one of the highest-paid personalities on television. At his peak, he earned $88 million per year, with incomes of $45 million in 2006, $30 million in 2008, and $80 million in 2011.
He made $64 million in 2012, $72 million in 2014, and $70 million in 2015. His annual income from the show is approximately $80 million, totaling $95 million between June 2018 and June 2019, and $65.5 million in 2020, according to Forbes.
Early life
Phillip Calvin McGraw, known as Dr. Phil, was born on September 1, 1950, in Vinita, Oklahoma, to Joseph and Anne McGraw. He grew up in North Texas and worked various jobs as a teen. McGraw attended Shawnee Mission North High School in Kansas, later earning a football scholarship to the University of Tulsa.
He transferred to Midwestern State University, graduating with a B.A. in psychology in 1975. He earned his M.A. and Ph.D. in clinical psychology from North Texas State University and completed post-doctoral training in forensic psychology.
Career
After earning his doctorate, Dr. Phil returned to Wichita Falls, Texas, to work with his father in his psychology practice. In 1985, they partnered with Thelma Box to present “Pathways” self-help seminars, and McGraw sold his share for $325,000 in 1991.
In 1990, he co-founded Courtroom Sciences, Inc. (CSI) with lawyer Gary Dobbs, providing trial consulting services and conducting mock trials. His experiences as a trial consultant inspired the TV show Bull, where he is credited as a co-creator. McGraw’s collaboration with Oprah Winfrey also began through CSI.
Personal life
Dr. Phil married his first wife, Debbie Higgins McCall, in 1970, but their marriage ended in annulment in 1973 due to claims of infidelity and his domineering behavior. He then began dating Robin Jo Jameson, whom he married in 1976; they have two children, Jay and Jordan McGraw.
McGraw is a licensed private pilot and an active Christian. In October 2003, he established the Dr. Phil Foundation, a charity aimed at supporting various philanthropic initiatives.
Does Oprah get money from Dr Phil?
While Oprah Winfrey does not directly earn a salary from Dr. Phil’s ventures, her diversified portfolio, which includes the Dr. Phil show among others, contributes to her substantial wealth.
Conclusion
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Dr. Phil McGraw’s journey from a psychologist to a television icon and entrepreneur illustrates a dynamic and successful career. His empire, standing at a net worth of $460 million, showcases his ability to leverage his expertise in psychology into a diverse range of lucrative ventures, impacting many and securing his financial and professional legacy.
FAQs about Phil McGraw’s Net Worth
- How did Dr. Phil start his career? Dr. Phil began his career in private practice and as a co-founder of a trial consulting firm, CSI.
- What contributed to Dr. Phil’s wealth? Dr. Phil’s wealth is attributed to his successful television show, business ventures in media and digital health, and his work as an author.
- Is Dr. Phil still involved in psychology? Although he earned a Ph.D. in clinical psychology, Dr. Phil ceased renewing his license in 2006 and has since focused primarily on media and entertainment.
- How has Dr. Phil’s relationship with Oprah Winfrey influenced his career? Oprah Winfrey played a pivotal role in launching Dr. Phil’s television career, helping him transition from a legal consultant to a TV personality.
- What are Dr. Phil’s future plans after his talk show? Post his daytime TV career, Dr. Phil plans to focus on prime-time television and has announced an upcoming strategic partnership set for 2024.
