Dr. Phil McGraw, better known as Dr. Phil, is a well-established American TV personality, author, and former psychologist with an estimated net worth of $460 million. He generates a substantial income of $60 million to $90 million annually through his various ventures. Notably, McGraw owns the rights to 100% of his show’s content, making his earnings even more lucrative. He pays CBS for distribution rights but receives a significant share of the advertising revenue and product placements. Besides his popular talk show, Dr. Phil is an executive producer for shows like The Bull and The Doctors and is a co-founder of the telemedicine platform Doctors on Demand.
Despite having a Ph.D. in clinical psychology, McGraw is no longer licensed to practice as a psychologist. His rise to fame began in the late 1990s when he made regular appearances on The Oprah Winfrey Show. He currently resides in Beverly Hills, California, with his wife, Robin.
A Look into Dr. Phil’s Early Life
Dr. Phil McGraw was born in Vinita, Oklahoma, on September 1, 1950. He was raised in the oil fields of North Texas, where his father worked as an equipment supplier. The family moved when he was young so that his father could pursue a career in psychology. McGraw attended Shawnee Mission North High School in Overland Park, Kansas, before going on to the University of Tulsa in 1968 on a football scholarship. He played as a middle linebacker and was part of the team that faced one of the most lopsided defeats in NCAA history, losing 100-6 to the University of Houston.
After transferring to Midwestern State University in Wichita Falls, Texas, McGraw graduated with a Bachelor’s degree in psychology in 1975. He continued his education, earning a Master’s degree in experimental psychology in 1976, followed by a Ph.D. in clinical psychology from the University of North Texas in 1979. McGraw briefly worked in private practice before moving on to other ventures.
The Birth of CSI Courtroom Sciences
In 1990, Dr. Phil founded CSI Courtroom Sciences, Inc., which provided consultation services to individuals and corporations, helping them secure settlements. After establishing CSI, McGraw decided to stop practicing psychology, though he kept his license active for several years, eventually retiring it in 2006.
McGraw’s connection with Oprah Winfrey began in 1995 when he assisted her during a libel lawsuit concerning mad cow disease. His success, in this case, led to regular appearances on The Oprah Winfrey Show starting in 1998. His role as a life strategy expert, particularly on Tuesdays, gained him significant recognition and paved the way for his own talk show.
The Dr. Phil Show and Its Legacy
In 2002, Dr. Phil launched The Dr. Phil Show, which quickly became a national phenomenon. The show continued for 21 successful seasons until its conclusion in February 2023. The show was produced by Oprah’s Harpo Studios and solidified McGraw’s position as one of the most recognizable TV personalities.
Apart from his talk show, McGraw also ventured into the weight-loss business in 2003 with the release of Shape It Up, Woo Woo, a line of shakes, supplements, and energy bars. However, after facing scrutiny from the Federal Trade Commission (FTC) for misleading advertising, McGraw pulled the products from the market in 2004. A class-action lawsuit followed, resulting in a $10.5 million settlement.
Expanding Into Other Ventures
Dr. Phil’s success wasn’t limited to just one show. In 2008, he expanded his reach by launching The Doctors, a spinoff focused on health and medical advice. The show was produced by McGraw and his son Jay McGraw, marking a third-generation spinoff in the McGraw family’s television endeavors.
In 2016, McGraw also served as an executive producer for Bull, a legal drama inspired by his experiences as a trial consultant. The show, which starred Michael Weatherly, was another example of McGraw’s expanding influence in the entertainment industry.
In 2021, McGraw launched House Calls with Dr. Phil, a CBS series where he visited families at their homes to provide life advice.
Best-selling author and Media Contributor
In addition to his television career, McGraw is a best-selling author, with notable books including Life Strategies, Relationship Rescue, and The 20/20 Diet. Since 2022, McGraw has been contributing columns to popular platforms like WebMD and USA Today, co-writing with physician John Whyte.
Dr. Phil’s Personal Life
Dr. Phil’s first marriage was to Debbie Higgins McCall in 1970, but it ended in an annulment three years later. He married his second wife, Robin Jo Jameson, in 1976, and the couple has two children, Jay and Jordan. McGraw is also an accomplished private pilot with an instrument rating, flying single-engine airplanes in his free time.
In 2003, McGraw founded the Dr. Phil Foundation, which focuses on addressing childhood obesity, further highlighting his commitment to making a positive impact in society.
Salary and Earnings Over the Years
Dr. Phil’s income has varied throughout his career, but he has consistently been one of the highest-paid TV personalities. At his peak, McGraw earned $88 million per year. In 2006, his income was $45 million, which rose to $80 million in 2011. In 2018, he earned $77.5 million, and in 2020, his earnings were reported at $65.5 million. A significant portion of McGraw’s annual income comes from The Dr. Phil Show, where he reportedly makes around $80 million annually. From June 2018 to June 2019, he earned an impressive $95 million, showcasing his consistent financial success.
Dr. Phil’s Real Estate Investments
Dr. Phil’s success is also reflected in his real estate investments. In 2008, he and his wife, Robin, bought a Beverly Hills home for $7 million. They later listed it for $16.5 million in 2010 and sold it for $12 million in 2011.
In 2010, the McGraws purchased a Mediterranean-style villa in Beverly Hills for $29.5 million. The villa sits on three acres and includes a 14,000-square-foot main house with five bedrooms and 11 bathrooms, a guesthouse, and a pool.
Additionally, in 2011, Dr. Phil and his wife listed another Beverly Hills property for $6.35 million, which was eventually re-listed in 2020 for $5.75 million.
Dr. Phil McGraw’s impressive career, spanning television, books, and other ventures, has helped him amass a significant fortune. With his estimated net worth of $460 million and annual earnings in the range of $60 million to $90 million, McGraw remains one of the most influential media personalities in the world. From his early days as a psychologist to becoming a household name through The Dr. Phil Show, his story is a testament to his business acumen and ability to stay relevant across multiple platforms.
