What is Dr. Phil McGraw’s net worth and salary?

Dr. Phil, also known as Phil McGraw, is an American TV personality, author, and former psychologist with a net worth of $460 million. He earns between $60-$90 million annually from various endeavors, including his show, for which he owns 100% of the content and pays CBS to distribute in exchange for a cut of advertising revenue and product placement. Additionally, he executive produces “The Bull” and “The Doctors” and co-founded the telemedicine app Doctors on Demand.

Despite holding a Ph.D. in clinical psychology, McGraw is not licensed to practice. He first gained celebrity status through his appearances on “The Oprah Winfrey Show” in the late 1990s. McGraw and his wife, Robin, currently reside in Beverly Hills, California.

Dr. Phil’s Early Life and Education

Dr. Phil was born in Vinita, Oklahoma in 1950 and grew up in North Texas. His family moved when he was young so his father could pursue his dream of becoming a psychologist. Dr. Phil attended Shawnee Mission North High School in Overland Park, Kansas before enrolling at the University of Tulsa on a football scholarship. He transferred to Midwestern State University where he earned a Bachelor’s degree in psychology in 1975, followed by a Master’s degree in 1976 and a Ph.D. in clinical psychology in 1979 from the University of North Texas. After graduation, he worked in private practice for several years.

Dr. Phil’s Career Highlights

In 1990, Dr. Phil founded CSI Courtroom Sciences, Inc. to advise corporations and plaintiffs on settlement strategies. He retired his psychology license after 15 years in 2006.

In 1995, Oprah hired Dr. Phil’s company to advise her in a libel lawsuit. He appeared on her show in 1998 and became a regular expert on Tuesdays.

Dr. Phil’s Weight-Loss Business

Dr. Phil McGraw gained national recognition through his appearances on “The Oprah Winfrey Show” in the late 1990s. He went on to host his own show, “The Dr. Phil Show,” which debuted in 2002 and is still on the air today.

In 2003, McGraw entered the weight-loss business, selling shakes, supplements, and energy bars. These products were marketed under the name Shape It Up, Woo Woo and were featured on his show with testimonials from his sisters and nephew. However, the Federal Trade Commission (FTC) investigated the claims that the products “can help you change your behavior to take control of your weight.” Facing scrutiny from the FTC, McGraw withdrew his supplements from the market in March 2004, and the FTC dropped the investigation.

However, in 2005, McGraw faced a class-action lawsuit from people who used his products but did not lose weight. He settled the lawsuit in 2006 for $10.5 million, with $6 million paid to the plaintiffs in the form of Amway brand vitamins.

Dr. Phil’s Spinoff Shows and Other Ventures

Dr. Phil launched “The Doctors” in 2008, a spinoff show that focuses on health and medical issues. It is hosted by ER doctor and former “Bachelor” participant Travis Stork. The show features a team of medical professionals discussing health-related topics and answering viewer questions. “The Doctors” is the first show to be a third-generation spinoff, as it was produced by Dr. Phil and his son Jay McGraw, who is also a best-selling author.

In addition to his television shows, Dr. Phil is credited as one of the creators of the series “Bull,” based on his experience as a trial consultant. He has also authored several best-selling relationship and diet books, including “Life Strategies,” “Relationship Rescue,” and “The 20/20 Diet.”

Early Life and Personal Life

Dr. Phil McGraw married Debbie Higgins McCall in 1970 when he was just 20 years old, but the marriage ended three years later in an annulment. He then started dating Robin Jo Jameson while going through the process of ending his first marriage. They married in 1976 and had two children, Jay and Jordan. McGraw is also a private pilot, with an instrument rating, flying single-engine airplanes.

In 2003, McGraw founded the Dr. Phil Foundation with a mission to fight childhood obesity.

Dr. Phil’s Earnings

Dr. Phil is one of the highest-paid personalities on television, thanks to the syndication. His annual income from the show alone is around $80 million as of 2019. Between June 2018 and June 2019, he earned $95 million.

At his peak, he was earning $88 million per year. In 2006, he made $45 million. In 2008, his income slipped to $30 million. In 2011 he made $80 million. In 2012, he made $64 million. In 2014 he made $72 million. In 2014 he made $77 million. In 2015, $70 million. In 2016 he made $88 million. In 2017, he made $79 million and in 2018 he brought in $77.5 million.

Dr. Phil’s Real Estate Ventures

In 2008, Dr. Phil and his wife Robin purchased a Beverly Hills home for $7 million. They listed it for $16.5 million in 2010 and eventually sold it for $12 million in 2011.

The couple then bought a Mediterranean-style villa on three acres in Beverly Hills for $29.5 million in 2010. The property boasts a 14,000-square-foot main house, a guesthouse, and a pool.

In 2011, they listed another Beverly Hills home for $6.35 million, but it didn’t sell. The property was relisted in January 2020 for $5.75 million and includes a gun-lined dining room and other eclectic finishes that can be included in the sale if desired.

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