Net Worth: $219 million
Date Of Birth: May 1st, 1967
How They Make Money: Music, Acting, Endorsements, Real Estate
Tim McGraw has been one of the most prolific performers in country music history. Tim McGraw has amassed a net worth of approximately $219 million throughout his career as a musician and actor.
Today, we’ll look at how this country icon amassed such a fortune, how he spends his cash, and what he’s done to reach such meteoric heights.
How Tim McGraw Makes Money – Their Career
As a child, Tim McGraw was more of an athlete than a musician, and it wasn’t until a severe injury derailed his hopes of professional sports that he picked up his first guitar. Admittedly, Tim wasn’t much of a guitar player, especially at first, but he kept after it, and before long, he cut his first demo tape.
Tim’s father, Tug McGraw, was an accomplished major league pitcher with some friends at Curb Records, and after playing Tim’s demo for them, executives at Curb agreed to meet with Tim. After the meeting, curb signed Tim to Curb Records, which was the beginning of one of the most prolific careers in country music history.
Album sales have been a significant driver of Tim McGraw’s approximate $219 million net worth. He’s recorded 16 different full-length albums since the release of his self-titled debut in 1993.
Tim’s first album was the closest thing he’s had to a dud, with none of the singles, or the album itself, reaching a charting position. But the album did help lay the groundwork for future success. The follow-up to his debut, Not a Moment Too Soon, was the best-selling country album of 1994 and produced several singles. The album is RIAA-certified six-time platinum.
Tim’s releases came at a feverish rate throughout the late 90s. Albums All I Want and A Place in the Sun were each certified three times platinum, while his 1997 release, Everywhere, went four-times platinum.
The 21st century ushered in new successes for Tim, with his following three albums going platinum multiple times.
Throughout Tim’s career, he amassed sales of well over 40 million units, making him one of the best-selling country artists of all time.
While album sales represent a lower percentage of earnings for nearly all musicians, McGraw has been surprisingly resilient. In 2019, he ranked #13 on the Forbes list of highest-paid country performers, bringing in $18 million.
McGraw has toured extensively in the promotion of his records. He’s headlined a dozen tours since 1996, and he’s also done four co-headlining tours with his wife, Faith Hill, and another co-headliner with country star Kenny Chesney.
Tim keeps his touring income close to the vest, but considering that his tour with Kenny Chesney grossed nearly $100 million, it’s evident that McGraw makes a significant amount of money on the road.
Streaming income is a significant revenue driver for any musician, and Tim McGraw is no different. His music is available across every major streaming platform, and he has several million monthly listeners across each platform.
Using Spotify as one example, McGraw has over 6,700,000 active monthly listeners. If every 1,000 monthly listeners represent $3 in income, McGraw makes just over $20,000 each month from Spotify alone.
Considering his presence on other services like Apple Music and YouTube, McGraw brings in around $50,000 each month in royalties from streaming services.
While he’s best known as a musician, Tim McGraw also has some significant acting credits. His acting career began in 2004 when he appeared in Black Cloud and Friday Night Lights. The latter earned him an MTV Movie Award nomination for Breakout Performance. He followed 2004’s performances with appearances in eight other feature-length movies.
Tim also has several television appearances to his credit, notably his recent performances in the breakout hit shows Yellowstone and 1883. He’s also appeared on classic shows like Saturday Night Live and Sesame Street.
As one of the most prolific performers in country music, Tim McGraw has a few high-profile endorsement deals that enrich his net worth. Tim has long been a spokesperson for Pennzoil motor oil and AKG pro audio equipment. He recently landed an endorsement deal with Butcher Box, a grocery delivery service.
While the terms of his endorsement deals have never been disclosed, they’re all assumed to be seven-figure deals that help pad out McGraw’s net worth.
As one of the most active touring musicians in country music, merchandising represents a significant revenue driver for Tim McGraw. Tim maintains an online store with tons of branded apparel and accessories, and tour-specific merchandise is available at all his live shows.
How Does Tim McGraw Spend His Money
Tim and his wife Faith Hill are one of the most loved couples in country music, and if you consider her net worth along with his, the couple is worth about $165 million. With that kind of money, the McGraws have carved out quite a luxurious lifestyle.
The couple’s main residence is in Nashville, Tennessee. The home is a sprawling five-bedroom, ten-bathroom estate that the pair purchased for $10 million in 2021 after selling another property in the Nashville suburbs for a whopping $15 million.
Tim and Faith also formerly owned properties in Beverly Hills and the Bahamas. Their Beverly Hills mansion was sold in 2009 for $9.5 million. The couple purchased a private island in the Bahamas, Goat Cay, in 2003, and after a 9-year infrastructure and building project, they moved into the sprawling Bahamian estate. The island sold in 2021 for an impressive $35 million.
McGraw loves airplanes, and after earning his pilot’s license, he purchased a Cirrus SR22 plane in 2010. These pricey aircraft are among the most luxurious single-engine planes, and they cost in the realm of $750,000.
Tim’s cruising on land in style when he's not in the air. He boasts an impressive collection of luxury and collector cars. McGraw is particularly fond of classic cars. He has an old Range Rover Defender 90, a 1978 Jeep CJ-6, a Mercedes 200 Series 280S that belonged to his father, a 1970 Chevy El Camino 454 SS, and a 1977 Pontiac Trans Am in his collection, among others.
He’s often cruising around in a souped-up Dodge Charger SRT-8, which boasts 700 horsepower, and he also owns a 2018 Ford F-150. Conservatively speaking, his car collection is worth close to $1 million.
When Tim isn’t spending money on lavish toys, he gives back to his community and supports many charitable initiatives. Tim supports the ASPCA, David Foster Foundation, Red Cross, St. Jude Children’s Hospital, and many more.
Tim’s father, Tug McGraw, founded the Tug McGraw foundation just before his passing in 2004. His son carries on his legacy, contributing to the charity financially and appearing for performances and events supporting the foundation.
How Tim McGraw Got on This Path
Tim McGraw was born May 1st, 1967, in Delhi, Louisiana, to Betty Ann D’Agostino and Tug McGraw. Betty and Tug met while living in the same apartment complex while Tug worked his way through the minor leagues as a relief pitcher. A brief relationship led to Tim’s conception, but he didn’t have much of a relationship with his famous father until he was 18.
Following in his father’s footsteps, Tim showed promise as a baseball player. He attended Northeast Louisiana University on a baseball scholarship until a severe knee injury derailed his dreams of pro baseball. As a coping mechanism, Tim bought his first guitar and began playing and singing.
In 1989, Tim dropped out of college, moved to Nashville, and began pursuing his new dreams as a country musician. He was discovered by Curb Records in late 1990 and began working on his debut album shortly after. While 1993’s self-titled album was the closest thing Tim has had to a flop in his career, he continued to refine his craft and progress as an artist.
By the middle of the 90s, Tim was the most prominent new star in country music, and he’s only solidified his place atop the country mountain since then. McGraw’s music has won him three Grammys, countless CMA and CMT awards, and a laundry list of accolades from the RIAA.
Tim embarked on his first headlining tour in 1996, with support provided by country star Faith Hill. While on tour, the two began a relationship and married shortly after. Tim and Faith married in 1996, and the couple has three daughters.
McGraw has sold over 40 million albums worldwide, with many of his albums going platinum multiple times.
Tim McGraw’s Net Worth, Final Thoughts
With a career that spans three decades and running, Tim McGraw is one of the most prolific musicians and performers in country music history. His humble and friendly demeanor makes him an easy guy to root for, and judging by his approximate $219 million net worth, Tim has plenty of adoring fans rooting for him as well.