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Toby Keith Net Worth (2023)

Toby Keith net worth

Toby Keith is worth $370 Million

When it comes to modern country music, Toby Keith, with the trademark sincerity of his lyrics, and undeniable songwriting chops, is never far from the conversation. Since his emergence in the mid-’90s, he has forged a reputation with mega-hits like “Should’ve Been A Cowboy” and “How Do You Like Me Now?” and has recorded prolifically, with 21 studio albums selling 40 million copies.

Toby Keith’s net worth is reported at a cool $370 million, which is enough to place him near the top of the country music game but, perhaps unsurprisingly, considering his interesting route into a full-time career as a musician, his wealth is not simply a result of his music.

Keith features in our rundown of the world’s richest country singers, a far cry from the career he had working on the oil fields in Oklahoma with his father before a rapid decline in the industry left him unemployed. He also played semi-pro football for two years before deciding to focus on music full time. So, with such a fascinating career to his name, we’d like to take a closer look at Toby Keith’s net worth.

NameToby Keith
Other Name(s)Toby Keith Covel
Net Worth$370 Million
BirthplaceClinton, Oklahoma, USA
BirthdayJuly 8th, 1961
Star SignCancer
Height6ft 2’ (190cm)

Keith’s Strums of Stardom: From Oklahoma to Nashville

Toby Keith Covel first popped into the world on a hot summer’s day, July 8, 1961, on the dusty Oklahoma landscape. Little Toby couldn’t get enough of the tunes churned out by the musicians at his grandma’s supper club in Moore, Oklahoma, and so, barely eight, he picked up his first guitar. He fell head over heels for music, even when football at Moore High School started to compete for his attention. But Toby always knew where his heart truly belonged: the stage.

Graduating high school, Toby landed a tough gig in the oil fields, even working his way up to operations manager. But his thirst for music won out. He created the Easy Money Band and started rocking out at local bars. Come 1982, the oil business took a bad hit, which sealed Toby’s fate. There was no turning back now. He said goodbye to oil fields and committed to making music his full-time gig.

Toby’s big break came crashing in in the early ’90s when a flight attendant friend of his passed his demo tape onto an executive at Mercury Records, who, motivated by what he heard, went to see Keith play live. The gig was a success and resulted in Keith signing a contract with Mercury. His debut single, “Should’ve Been a Cowboy”, went to #1 on the Billboard Country Music Chart in 1993.

How Much does Toby Keith Make from his Music?

Having released 21 studio albums, 2 Christmas albums and 7 compilations since 1993, accounting for 40 million sales, it is fair to say that Keith is both prolific and hugely popular.

Forbes reported some dizzying numbers, pointing to a one-off payment of $1 million for a show at the Houston rodeo back in 2013, while also claiming that the singer made a staggering $65 million in the twelve months leading up to the show. It also states that he hadn’t earned less than $48 million a year in the five years previous, and had written a #1 country hit every year for the past two decades. His earnings over that time are said to have exceeded $500 million.

Fair to say that the Cowboy Capitalist’s chops for endorsements and commercial moves have been richly rewarded. Further to that, a conservative estimate would be that he earns almost $180,000 per month from Spotify streams alone, not to mention radio play and royalties.

Trivia: In 2017, Keith was No. 83 on Forbes‘ Celebrity 100 earnings list.

How Much are Toby Keith’s Business Ventures Worth?

Alongside his patriotic lyrics and enduring popularity, Keith has displayed a serious knack for business decisions and an undeniable work ethic. In his first year as a touring musician following his 1993 debut, he initially committed to playing 150 shows for around $10,000 each, before a second single released partway through the tour doubled both his bookings and his pay.

That unapologetic commitment to his career has stood him in good stead. In 2005, Keith began his own label, Show Dog, in exchange for signing over half of his next album and providing a greatest hits compilation to his previous label, Universal. At the time, he also invested heavily and supported another new label, Big Machine, resulting in a stake of around 10%. Alongside his own continuing commercial success, he also profited from any artists signed to Big Machine, including Rascal Flatts, Tim McGraw and, crucially, Taylor Swift. Although the relationship between Swift and her former label boss Scott Borchetta is an entire saga in itself, there was a time when it was an extremely profitable setup for all involved, including Mr. Keith.

Trivia: As yet another example of Toby Keith’s unwavering popularity, one of his trademark tunes “Should’ve Been a Cowboy”, was the most-played country song of the 1990s.

The Melody of Diversification: Alternative Revenue Sources

Keith is known for his remarkably astute approach to business, and rather than rely on the steady stream of income that his long-lasting and prolific musical career provides, he has continuously pursued entrepreneurial projects.

As reported in 2014, Keith is the owner of a chain of restaurants called I Love This Bar & Grill, and a mezcal brand, Wild Shot. Keeping with Keith’s down-home charm, his restaurants promise ‘nothing fancy here’ and serve soulful food, including Keith’s favorite: the fried bologna sandwich.

Trivia: Within nine months of its release in 2011, Wild Shot was the No.1 Premium Mezcal brand in the U.S.

Melodies of Magnificence: Keith’s Philanthropy

It isn’t all dollar bills and shots of mezcal. (It’s not even about fried bologna sandwiches!) Toby likes to see his money not only work for him but for others, too. That’s why so much of it goes to charity. In 2006, he founded the Toby Keith Foundation, providing free housing for kids struggling with cancer. It’s not just about giving—it’s about making a real impact. He even opened OK Kids Korral in 2014, a cozy haven for kids fighting cancer at the Children’s Hospital at OU Medical Center, Stephenson Cancer Center and other facilities in the Oklahoma City area.

Behind a Cowboy’s Curtains: Toby’s Personal Life

In keeping with his reputation as a real-life, latter-day American cowboy, Toby Keith is a family man, married since 1984 to Tricia Lucus. Toby serves as stepfather to Shelley, Tricia’s daughter from a previous relationship. Together, they have three children. His daughter Krystal is a country star signed to her father’s label.

On the friendship front, Toby and Rodney Carrington are like two peas in a pod. Their awesome bromance even spilled over to the big screen where they acted together in Beer for My Horses, a film based on Toby’s tune of the same name.

A Hurdle on the Road: Toby Keith’s Battle with Health

In 2022, Toby was diagnosed with stomach cancer. In response, he pressed pause on his music career in June that year to tackle chemo, radiation, and surgery head-on.

His fans, on tenterhooks for an update on Toby’s fight, received word in December 2022 that Keith could be hitting the road in the not-too-distant future:

WorkRelease DateU.S. Sales
Toby KeithApril 20, 19931,000,000
BoomtownSeptember 27, 19941,000,000
Blue MoonApril 16, 19961,000,000
Dream Walkin`June 24, 1997500,000
How Do You Like Me Now?!November 2, 19991,000,000
Pull My ChainAugust 28, 20012,000,000
UnleashedAugust 6, 20024,000,000
Shock ‘N Y’AllNovember 4, 20034,000,000
Honkytonk UniversityMay 17, 20051,000,000
White Trash With MoneyApril 11, 20061,000,000
Big Dog DaddyJune 12, 2007500,000
That Don’t Make Me A Bad GuyOctober 28, 2008500,000
American RideOctober 6, 2009500,000
Clancy’s TavernOctober 25, 2011500,000

Notable Award Wins

YearNominee/WorkAwardCategory
2001Toby KeithAcademy of Country MusicTop Male Vocalist
2002Toby KeithBillboard Music AwardsTop Country Artist
2021Toby KeithNational Medal of ArtsOutstanding contributions to the excellence, growth, support and availability of the arts in the United States

Concert Tours

Tour NameTour Date
Unleashed Tour2002
Shock’N Y’all Tour2003
Big Throwdown Tour2004
Big Throwdown Tour II2005
White Trash With Money Tour2006
Hookin’ Up and Hangin’ Out Tour 2007
Biggest and Baddest Tour2008 – 2009
America’s Toughest Tour 2009
Toby Keith’s American Ride Tour 2010
Locked and Loaded Tour2011
Hammer Down Tour2013
Hammer Down Under Tour2014
Good Times and Pick-Up Lines Tour2015
Interstates and Tailgates Tour2016
Should’ve Been A Cowboy XXV2018