After becoming well-known after appearing on The Oprah Winfrey Show, former psychologist Phil McGraw ventured out on his own and became the host of the renowned talk show Dr. Phil. The success of the series helped him launch other media endeavors and a telehealth app called Doctor on Demand. As of 2023, Dr. Phil has a net worth of $460 million.
Early Life
Phillip Calvin McGraw was born in Vinita, Oklahoma on September 1, 1950. His parents, Joseph and Anne, raised him in North Texas along with three sisters named Deanna, Donna, and Brenda.
Phil’s father dreamed of studying psychology and took him to Overland Park, Kansas, where Phil went to Shawnee Mission North High School. Young McGraw attended the University of Tulsa but later transferred to Midwestern State University.
There, he got a degree in psychology in 1975. The following year, he became a master in experimental psychology. In 1979, he got a Ph.D. in clinical psychology from the University of North Texas.
Career Beginnings
After getting his doctorate, Phillip joined his father in a private psychology practice. In 1985, the McGraws worked with businesswoman Thelma Box, who helped them promote their self-help seminars.
The company slowly grew, and Phil sold his share of it for $325,000 in 1991. Before this, the Oklahoma native co-founded a trial consulting firm called Courtroom Sciences, Inc. (CSI) in 1990.
The famed Oprah Winfrey hired Phil’s legal team from CSI to help her with her 1995 Amarillo Texas beef trial. The television host was so satisfied with their service that she invited Phil to appear on The Oprah Winfrey Show in 1998.
Television Breakthrough
Phil instantly became a fan favorite and started appearing weekly on the show to give life and relationship advice. In 2002, he developed Peteski Productions to start his own TV show, Dr. Phil.
By 2008, it became second only to Oprah’s show in terms of viewers. It’s important to note that, though he used to be a real therapist, McGraw stopped renewing his license in 2006. Even with this, he has become a successful TV host.
In 2005, Phil co-founded Stage 29 Productions to start shows like Dr. Phil House, The Doctors, and Bull. In 2012, he founded Doctor on Demand, a platform for scheduling virtual doctor appointments.
Net Worth and Earnings
All of the content for McGraw’s shows is owned by him. In fact, he pays CBS to air the program in return for a sizable portion of the advertising and product placement fees.
Before this, his main source of income was Courtroom Sciences, Inc. Though McGraw isn’t a director of the consulting firm anymore, he still makes $60 to $90 million annually, per Celebrity Net Worth. This is why his fortune is $460 million.
Personal Life
In 1970, Phil married Debbie Higgins McCall, but their marriage was annulled three years later. In 1976, he married Robin Jo Jameson, who is present at every taping of her husband purely to show support.
Robin and Phil have been blessed with two sons, Jay and Jordan. There have been rumors of them divorcing, but the couple clarified that it’s all false news. They’re happily living together in a house in Beverly Hills, California.
