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Toby Keith Net Worth: Why He is a wealthy man?

American country music performer, songwriter, actor, and record producer Toby Keith Covel was born on July 8, 1961. Keith recorded his first four studio albums for various Mercury Records divisions before leaving the label in 1998: Toby Keith (1993), Boomtown (1994), Blue Moon (1996), Dream Walkin’ (1997), as well as a collection of his greatest hits.

He had many Top Ten successes, including his breakthrough single “Should’ve Been a Cowboy,” which topped the country charts and became the most-played country song of the 1990s. All of his albums were certified Gold or higher. Since its release, the song has had three million spins, according to Broadcast Music Incorporated.

After signing with DreamWorks Records Nashville in 1998, Keith launched his breakthrough single, “How Do You Like Me Now?!” in late 1999. The lead country hit of 2000, this song was the title tune of his 1999 album of the same name and one of many chart-topping singles he produced while at DreamWorks Nashville.

His three subsequent albums, Pull My Chain, Unleashed, and Shock’n Y’all, each produced three additional number one singles and were all awarded the 4x Platinum certification. Honkytonk University, which he released in 2004, was followed by a second Greatest Hits compilation.

Early Life of Toby Keith

On July 8, 1961, Toby Keith Covel was born in Clinton, Oklahoma. Three kids—one girl and two boys—were born to Carolyn and Hubert Covel. Even as a young child, he spent the summers with his granny. She oversaw a Supper Club in Fort Smith, Arkansas.

The musicians that played at the dinner club captivated Toby. When he was eight years old, he acquired his first guitar. After doing various jobs around his grandmother’s club, he eventually walked on to the stage to play with the house band.

Along with his siblings, Toby grew up in Moore, Oklahoma, and Fort Smith, Arkansas. He was an end for the Moore High School football team. After high school, he went to work in the oil fields as a derrick. Over time, he progressed to operations manager.

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When Toby was 20 years old, he formed the Easy Moony Band with a few friends. The band played at neighborhood clubs while Toby kept working in the oil fields. He lost his job in 1982, a difficult time for the oil industry. Later, Toby played defensive end for the semi-pro Oklahoma City Drillers. After a while, Easy Money started to get some local notoriety and started playing honky tonks in Texas and Oklahoma.

Career of Toby Keith

Early in the 1990s, Toby relocated to Nashville and started performing as a busker on Music Row. He gave out demo cassettes to the various record labels in the city. He went back to Oklahoma because his demo generated little attention.

He had vowed to himself that he would alter his career if he didn’t land a record deal by the age of 30. Then, by coincidence, a Mercury Records executive received a sample tape from an Easy Money Band fan who was a flight attendant while she was working a trip. The CEO was drawn to Toby’s tone and offered him a recording contract.

Should’ve Been a Cowboy, Toby’s first hit, peaked at number one on the country music charts in 1993. The song entered the top 100 pop music charts as well. “Should’ve Been a Cowboy” garnered more than three million radio plays before the decade’s end. Taking “Achy Breaky Heart” by Billy Ray Cyrus off the top spot, it was the most played country song of the 1990s.

Up to his departure from Mercury Records in 1998, Keith’s first four studio albums — 1993’s “Toby Keith,” 1994’s “Boomtown,” 1996’s “Blue Moon,” and 1997’s “Dream Walkin'” — were distributed by various divisions of Mercury Records. Numerous top 10 hits were produced by each of these albums. When Keith joined DreamWorks Records Nashville in 1998, the song “How Do You Like Me Now?!” became his breakthrough success.

The lead country hit of 2000, this song was the title tune of his 1999 album of the same name and one of many chart-topping singles he produced while at DreamWorks Nashville. His three albums after that, “Pull My Chain,” “Unleashed,” and “Shock’n Y’all,” each produced three additional number one singles and received a four-time Platinum certification.

Every year from 1993 through 2000, Toby released a new album. At least 500,000 copies of each title were sold, with the majority selling for more. When his label rejected a few songs off his 1999 album “How Do You Like Me Now,” Toby paid his label $93,000 for the opportunity to repurchase the album.

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After that, he offered DreamWorks the rights for $200,000 in cash. 3.1 million copies of “How Do You Like Me Now?” were sold.

With over 40 million albums sold worldwide, Keith has released 19 studio albums, two Christmas albums, and five compilation albums. His 2002 album “Unleashed” sold 3 million copies and included the hit duet “Beer for My Horses” with Willie Nelson.

In 2004, Toby invested $400,000 for a 10% stake in Big Machine. At the time, that investment was risky, but it paid off well. Big Machine Records signed Taylor Swift, Rascal Flatts, and Tim McGraw. Toby Keith continues to get paid whenever one of Big Machine’s musicians does.

Most people would be able to get by with this. The opposite is true of Toby Keith. After learning that his friend Sammy Hagar had sold his Cabo Wabo tequila brand for $80 million in 2007, Toby decided to enter the alcohol business.

He considered starting a vodka or bourbon business. While producing bourbon on a wide scale proved to be difficult, the market for vodka seemed to be oversaturated. He finally decided on mezcal as a result. Toby located a distributor and started sampling mezcal from various family-owned distilleries.

In March 2011, the “Wild Shot” mezcal was released. By the end of the year, Wild Shot was the most popular premium mezcal in the country. The last component of a growing empire was the alcohol division of Toby’s business.

Toby Keith Net Worth

In The Last Twelve Month, toby’s net worth was around $65 million.

In 2022, Toby’s net worth is $365 million.

Personal Life

Keith married Tricia Lucus on March 24, 1984, which marked the beginning of his personal life. The couple has three children: son Stelen (born in 1985), daughter Krystal (born in 1985), and Shelley (born in 1980 and adopted by Keith in 1984). (born in 1997). Additionally, he has two granddaughters and a grandson through his daughter Shelley.

On March 24, 2001, Keith’s father was killed in a car accident. Keith was inspired to write the contentious song “Courtesy of the Red, White, and Blue (The Angry American)” in response to the incident and the events of September 11, 2001. The song was extremely well-liked, especially by military personnel, but it also strained his relationship with Natalie Maines of The Dixie Chicks.

Keith created a PSA for Little Kids Rock, an organization that works to revitalize music education in underprivileged public schools all around the country. Keith is a supporter of Ally’s House, a charitable organization in Oklahoma that helps kids with cancer.

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Keith received a $20,000 record deal, and his 1993 self-titled first album was released. He performed 150 shows between March and December of 1993. He made between $5,000 and $10,000 per night. When the second single from the record started getting radio play throughout the tour, venues raised his fee to $20,000 per show.

FAQs

Why is Toby Keith a wealthy man?

He makes a large portion of his money performing live shows, writing songs, and selling albums, as well as through his own mezcal brand and restaurant chains bearing his name.

According to the source, Keith has an interest in Big Machine Records that is thought to be worth 10%. Big Machine Records and Keith’s Show Dog label jointly formed the company in 2005.

In 2022, what will Toby Keith be worth?

Toby Keith: 365 million dollars

Toby Keith currently has 4.6 million Spotify subscribers per month, and by 2022, his predicted net worth of $365 million will place him as the fifth-richest country musician globally.