Toby Keith Net Worth
Toby Keith Net Worth: Toby Keith is an American country singer, songwriter, actor, and record producer who has a net worth of $365 million.
Early Life: Toby Keith Covel was born July 8, 1961, in Clinton, Oklahoma. He is one of three children (1 girl and 2 boys) of Carolyn and Hubert Covel. As a kid, even visited his grandmother in the summers. She owned a Supper Club in Fort Smith, Arkansas. Toby was fascinated with the musicians who played in the supper club. He got his first guitar at age 8, did odd jobs around his grandma's club, and eventually got up on stage to play with the house band.
Toby and his siblings grew up in Moore, Oklahoma and Fort Smith, Arkansas. He was the defensive end on the Moore High School football team. After graduating from high school, he worked in the oil fields as a derrick. Over time, he worked his way up to operations manager.
At 20, Toby formed the Easy Mony Band with a number of friends. The band played at local bars and Toby continued to work in the oil fields as well. He was laid off in 1982 when the oil industry his rough times. Toby then played defensive end for the semi-pro football team the Oklahoma City Drillers. A couple of years later, Easy Money found some regional success and started playing in honky-tonks in Texas and Oklahoma.
Career: Toby went to Nashville in the early 1990s and busked on the city's infamous Music Row. He gave out copies of his demo tape to the city's many record companies. There was no interest in his demo, so he went back to Oklahoma. He had promised himself he'd have a recording contract by the time he was 30 or turn his career aspirations elsewhere. Then, as luck would have it, a fan of the Easy Money Band who was a flight attendant gave his demo tape to an executive from Mercury Records on a flight she was working. The executive loved Toby's sound and signed him to a recording contract.
In 1993, Toby's debut single, "Should've Been a Cowboy," hit number one on the country music charts. The song also cracked the top 100 on the pop music charts. By the end of the 1990s, "Should've Been a Cowboy" had more than three million plays on the radio. It was the most-played country song of the 1990s,, yes, even more than Billy Ray Cyrus' "Achy Breaky Heart."
Keith released his first four studio albums — 1993's "Toby Keith," 1994's "Boomtown," 1996's "Blue Moon," and 1997's "Dream Walkin'," for various divisions of Mercury Records before leaving Mercury in 1998. These albums all produced several top ten singles. Keith signed to DreamWorks Records Nashville in 1998 and released his breakthrough single "How Do You Like Me Now?!" in late 1999. This song, the title track to his 1999 album of the same name, was the number one country song of 2000, and one of several chart-toppers during his tenure on DreamWorks Nashville. His next three albums, "Pull My Chain," "Unleashed," and "Shock'n Y'all," produced three more number ones each, and all of the albums were certified four times Platinum.
Toby released a new album every year from 1993 to 2000. Each release sold at least 500,000 copies, most sold many more. When his label rejected a number of songs off his 1999 album "How Do You Like Me Now", Toby negotiated the right to buy back the album from the label for $93,000. He then flipped the rights to DreamWorks for $200,000. "How Do You Like Me Now", went on to sell 3.1 million copies.
Keith has released 19 studio albums, two Christmas albums, and five compilation albums; a total worldwide sales of over 40 million albums. His 2002 album, "Unleashed," sold 3 million copies and included a hit duet with Willie Nelson entitled Beer for My Horses.
In 2004 Toby purchased a 10% stake in Big Machine for $400,000. That investment may have been a gamble at the time, but it paid off big time. Big Machine went on to sign Tim McGraw, Rascal Flatts, and Taylor Swift. To this day, every time any of Big Machine's artists get paid so does Toby Keith.
Shortly after founding his record labels, Toby was approached by a Las Vegas casino owner named Don Marrandino with a proposition. Marrandino wanted to put a Toby Keith-themed restaurant inside his casino and call it the "I Love This Bar and Grill." By the end of 2004, it was one of the top 50 grossing restaurants in the United States.
For most people this would be enough. But not Toby Keith. After hearing that his friend Sammy Hagar sold his Cabo Wabo tequila company for $80 million in 2007, Toby decided it was time to get into the booze business. He considered starting a Bourbon or vodka brand. Bourbon turned out to be difficult to produce at scale and the vodka market seemed extremely saturated. So, he settled on Mezcal. Toby found a distributor and began sampling the various family-run mezcal distilleries. "Wild Shot" mezcal was launched in March 2011. By the end of the year, Wild Shot was the number one premium mezcal in the United States. The liquor arm of Toby's empire was the final part of a growing empire. An empire that earns him an estimated $60 – $100 million per year.
Personal Life: On March 24, 1984, Keith married Tricia Lucus. The couple has three children: Shelley (born in 1980, adopted by Keith in 1984), Krystal (born in 1985), and son Stelen (born in 1997). He also has two granddaughters and one grandson via his daughter Shelley.
On March 24, 2001, Keith's father was killed in a car accident. The incident, combined with the events of September 11, 2001, prompted Keith to write the controversial "Courtesy of the Red, White, and Blue (The Angry American)," which was hugely popular, particularly among military personnel but caused a rift between Keith and singer Natalie Maines of The Dixie Chicks.
On the philanthropic side of things, Keith filmed a PSA for Little Kids Rock, a national nonprofit that works to restore and revitalize music education in disadvantaged U.S. public schools. Keith supports Ally's House, a non-profit organization in Oklahoma designed to help children with cancer.
Salary Highlights: Keith was paid $20,000 for his first record contract and his eponymous first album was released in 1993. He performed 150 concerts between March and December of 1993. He made $5,000-$10,000 per night. When the album's second single started getting radio play in the middle of the tour, venues raised his fee to $20,000 per show.
|Net Worth:||$365 Million|
|Date of Birth:||Jul 8, 1961 (60 years old)|
|Height:||6 ft 2 in (1.905 m)|
|Profession:||Singer, Singer-songwriter, Musician, Actor, Record producer, Lyricist, Composer, Artist, Songwriter, Guitarist|
|Nationality:||United States of America|