Toby Keith Net Worth

Net worth: $372 Million

Date of Birth: 8th July 1961

How He Makes His Money: Singing, Songwriting, Album Sales, Touring, Acting, Investment

Toby Keith is a famous American country singer, musician, songwriter, record producer, actor, and successful entrepreneur. Toby Keith’s estimated net worth is around $372 million.

As one of the world’s most prosperous country singers, it’s worth learning how Keith has made his fortune. Read on as we look at Toby Keith’s net worth, how he makes his fortune and how he spends it.

How Toby Keith Makes His Money

Keith’s success in the music industry has opened many lucrative opportunities for him. He’s one of the wealthiest country singers, with most of his money coming from singing, songwriting, and album sales. Due to his popularity as a musician, Keith has landed many epic deals.

Toby has appeared on television and in films, with several movies and TV shows under his belt. Besides succeeding as a singer and actor, Keith has earned a fortune from multiple business ventures. He’s also a philanthropist and influencer with huge followers on social media.

So, how much money does Toby Keith make? Below we look into how Toby Keith has earned money from music, acting, social media, and investments.

Music

Toby Keith’s first record contract with Mercury Records earned him $20,000. He released his debut single, “Should’ve Been a Cowboy,” in 1993, and it became a success.

Between March and December 1993, Keith performed in 150 concerts, making around $5,000 to $10,000 per night. With the success of his debut album, “Toby Keith,” he landed more performances, and his fee increased to $20,000 per show.

His success inspired him to release other studio albums; “Boomtown” in 1994, “Bluemoon” in 1996, and “Dream Walkin” in 1997.

Keith released three other albums, including his breakthrough single, “How Do You Like Me Now,” in 1999. DreamWorks paid him $200,000 to own the rights to this song.

In 2013, Keith earned around $1 million after performing in the Houston rodeo. He has also made more money from numerous tours, such as the Biggest & Baddest tour in Atlanta.

Keith has performed in over 1,290 concerts in countries like the US, Canada, Australia, Saudi Arabia, Germany, Denmark, and Switzerland.

Toby Keith has sold over 40 million albums and singles worldwide, including 24.9 million in the US. His studio album, “Unleashed” (2002), sold over 3 million copies.

The sale of albums and singles has significantly led to the growth of Toby Keith’s net worth, making him one of the wealthiest country singers in the world.

Movies and TV Shows

Keith has earned a fortune in his career as an actor. He has appeared in TV shows and movies such as Total Nonstop Action Wrestling, Road to Kentucky Derby, Noisemakers 2003: The Big Stories, and Beer For My Horses.

He has done many commercials for Ford trucks and Telecom USA. Additionally, Keith has appeared on various wrestling programs and The Colbert Report.

Social Media

With a vast social media following, Toby Keith earns from views, paid ads, and more. His YouTube channel has over one million subscribers, with most of his videos receiving millions of viewers.

His 146 videos on YouTube have around 1.1 billion views. If Keith earns $3 per 1,000 views on YouTube, he has made over $4.5 million from the total views.

On Spotify alone, Toby Keith gets approximately 5,004,580 monthly listeners. Assuming that he makes $3 for every 1,000 listeners per month, Keith makes around $15,013.74 monthly. He has over 870 followers on Instagram and 1.5 million followers on TikTok.

Investments

Toby Keith’s popularity goes past being a singer as he’s well-known as an entrepreneur. He has invested in many successful businesses, leading to the growth of his wealth. So, what types of investments contribute to the growth of Toby Keith’s net worth?

In 2004, he invested $400,000 in Big Machine Records, buying a 10% stake from the record label. Big Machine signed some big names, including Taylor Swift. The record label was highly profitable, and Keith made a profit from every signing they made.

Keith founded his independent record label, Show Dog Nashville, in 2005, which helped grow his net worth. In 2009, the record label merged with Universal South Records to form Show Dog-Universal Music.

With his popularity soaring, Keith put up a restaurant in a casino in Las Vegas and named it “I Love This Bar and Grill.” The restaurant tripled its revenue target in its opening month. By 2005, “I Love This Bar and Grill” was a huge success, becoming among the top 50 restaurants in the US.

After succeeding in Las Vegas, Keith opened other locations in Oklahoma, Kansas, Minneapolis, Phoenix, and Tulsa. His restaurants are famous for their number-one menu item, the fried bologna sandwich. Keith earns approximately $12 million annually from his streams of restaurants. 

Keith launched his line of clothing in 2009 called TK Steelman, which features T-shirts, long-sleeved shirts, sweatshirts, polos, cowboy hats, leather wrist straps, and more. In March 2011, Keith launched his signature brand of spirit called “Wild Shot” mezcal, a handcrafted 100% green agave. By 2012, Wild Shot was among the top premium mezcal in the US.

Toby Keith cashes in on other investments, such as an endorsement of Ford trucks, allowing him to expand his empire.

How Does Toby Keith Spend Their Money

After earning a fortune through music, Keith invested much of his money in various business ventures. He has a chain of hotels, a spirit brand, a clothing line, and endorsement deals.

Apart from investments, Keith loves a lavish lifestyle. He has a huge collection of fancy cars, including the following:

• Ford Expedition EX-L
• Lincoln Blackwood
• Ford GT 40
• 72 Oldsmobile Cutlass
• 1930 Lincoln Model L
• 2002 Ford F-350 Tonka Concept
• Ford F-450 Dually
• Ford Mustang Bullitt
• Mercedes-Benz GLS-450
• Ford Expedition Limousine
• 63 Chevy Impala
• Harley Davidson Softail Sportster
• 77 Pontiac Trans Am
• 1934 Ford Suicide-Door Cabriolet

His extensive collection of automobiles has been featured in TV shows and magazines.

Keith has property in Oklahoma called Dream Walkin Farms. The 160-acre farm serves as a breeding area for racehorses and racing operations.

His over 10,000 square feet Norman home features:

• Five bedrooms
• Six bathrooms
• A massive pool
• A hot tub
• A lake
• An area to play golf

He purchased another house in Nashville, Tennessee, in 2006, costing him $1.35m. The house is 3,428 square feet and features two bedrooms, 2.5 bathrooms, a wine cellar, a pool, two car garage, and outdoor living space.

When he’s free, Keith spends most of his afternoons at the Belmar Golf Club he bought in 2002. The golf club has terrific views and well-groomed fairways. It also offers challenging plays for all golfers.

Besides living a luxurious life, Toby Keith donates some of his money to charity. He uses his love for golf to raise funds during the Toby Keith & Friends Golf Classic. This event has raised over $13 million for The Toby Keith Foundation to help children with cancer.

In 2014, The Toby Keith Foundation opened OK Kids Korral, a no-cost housing for pediatric cancer patients. This home allows patients to receive treatment at nearby facilities such as Children’s Hospital at OU Medical Center and Stephenson Cancer Center.

He also supports Ally’s House, a non-profitable organization in Oklahoma for children diagnosed with cancer. Keith is part of the United Service Organizations (USO), a non-profit organization that sends artists to entertain troops overseas.

Toby Keith has supported other charities, including the ACM Lifting Lives, Feeding America, Nevada Cancer Institute, The Salvation Army, Make-A-Wish Foundation, and Starlight Children’s Foundation.

How Toby Keith Got on This Path

Toby Keith was born to Carolyn and Hubert Covel on 8th July 1961 in Clinton, Oklahoma. As a kid, he visited his grandmother in Fort Smith, Arkansas, to work in her super club. Keith developed a love for music after spending much time with musicians who worked in the club. By his 8th birthday, Keith had a guitar and played on the stage alongside the house band.

After high school, he went to work in the oil fields around Norman in the 1970s. Keith worked his way up to become the operations manager. By the late ‘70s, Keith earned around $50,000 a year in the oil fields.

He also formed the Easy Money Band with his friend and earned extra cash by playing covers at bars. The band also landed more gigs in Oklahoma and Texas. Unfortunately, his friends dropped out of the band. He recruited new musicians, and by 1990, he was earning over $60,000.

In the early ‘90s, Keith went to Nashville to look for a recording contract. After attempting with many record companies in the city, he failed to land a recording contract and returned to Oklahoma.

Luckily, one of the Easy Money Band’s fans gave Keith’s demo tape to one of Mercury Record’s executives. After listening to the demo tape, the executive loved Keith’s sound and went to see him performing live. Keith landed his first recording contract with Mercury Records in 1992.

After signing with Mercury Records, Keith released his debut single, “Should’ve Been a Cowboy,” in 1993, and more albums followed.

From his humble singing career, Toby Keith has grown to be a household name in the country music niche. As his musical career soared to greater heights, so was his net worth.

Toby Keith’s Net Worth, Final Thoughts

Toby Keith is a famous country singer and songwriter in America who has risen to become a successful entrepreneur. His success in music has opened many doors for him, allowing him to earn more as an actor and investor. Toby Keith’s net worth is guestimated to be around $372 million.