Toby Keith Net Worth: Everything You Need To Know

As of 2023, country singer, songwriter, actor, and record producer Toby Keith net worth is $400 million. Keith connected with American audiences from his early music career, creating stories that resonated with fans. “Should’ve Been a Cowboy,” his early 1990s breakthrough single, immediately became a country classic. Keith’s country music career was cemented by this early success. Songs like “How Do You Like Me Now?!” and “Beer for My Horses” with Willie Nelson solidified his hitmaking status.

Besides his musical talent, Toby Keith’s songs typically express his patriotism and love for America. In “Courtesy of the Red, White, and Blue (The Angry American),” the nation’s indignation and resolve were expressed. Despite often causing controversy, these songs show Keith’s dedication to expressing his beliefs through music.

NameToby Keith
ProfessionAmerican Singer-songwriter
Net Worth$400 Million
Salary$30 Million +
Monthly Income$3 Million +
Yearly Income$35 Million
Annual Expenses$4 Million +
Last Updated2023

Beyond music, Toby Keith is admired for his entrepreneurship. He has owned record labels and run profitable restaurants, diversifying his holdings. Toby Keith’s “I Love This Bar & Grill” restaurants, named after a hit, offer delicious food and live music, capturing the Toby Keith experience.

Keith earns $30 million or more on his $400 million net wealth. Monthly income tops $3 million, bringing in $35 million annually. Keith handles over $4 million in annual expenses while succeeding financially.

Toby Keith is a multidimensional performer and entrepreneur, leaving an indelible effect on country music and beyond as of 2023. His career is marked by chart-topping successes, entrepreneurial success, and a dedication to expressing his beliefs via music.

Toby Keith Net Worth Growth

Toby Keith’s wealth has grown significantly in recent years. Here’s his net worth evolution:

YearNet Worth (Million)
2018$230 Million
2019$360 Million
2020$295 Million
2021$330 Million
2022$365 Million
2023$400 Million

This progression illustrates Toby Keith’s consistent upward trajectory in terms of wealth, solidifying his status as one of the most financially successful figures in the music industry.

Quick Info

Full name Toby Keith Covel
NicknameToby Keith
Birth date Jul 8, 1961 
BirthplaceClinton, Oklahoma, USA 
Age62 years old
Zodiac SignCancer
Ethnicity White
FatherHubert Keith
MotherCarolyn Joan Ross Covel 
SiblingsSister: Tracy Covel
Brother: Tonni Covel
ProfessionSinger, Singer-songwriter, Musician, Actor, Record producer, Lyricist, Composer, Artist, Songwriter, Guitarist

Early Life

Toby Keith Covel came into the world on July 8, 1961, in Clinton, Oklahoma, as the second of three siblings. His parents, Carolyn and Hubert Covel, provided a foundation for his early years. During summers, Toby would often visit his grandmother, who owned a Supper Club in Fort Smith, Arkansas. It was here that Toby’s fascination with musicians blossomed. At the tender age of 8, he received his inaugural guitar, and as he grew, he found himself doing odd jobs around his grandma’s club, eventually taking to the stage to play alongside the house band.

Toby’s formative years unfolded in both Moore, Oklahoma, and Fort Smith, Arkansas. In the realm of sports, he showcased his athletic prowess as the defensive end for the Moore High School football team. Post-graduation, Toby delved into the oil fields, initially working as a derrick before steadily climbing the ranks to become an operations manager.

Embarking in his twenties, Toby’s passion for music led him to co-found the Easy Money Band with a circle of friends. This band became a regular feature at local bars, with Toby balancing his musical pursuits alongside his continued work in the oil fields. However, the downturn in the oil industry led to Toby’s layoff in 1982. Undeterred, he transitioned to the semi-pro football scene, playing as a defensive end for the Oklahoma City Drillers. A few years later, the Easy Money Band found regional success, paving the way for performances in honky-tonks across Texas and Oklahoma.

This early chapter in Toby Keith’s life reflects a blend of musical passion, hard work in diverse fields, and the resilience to navigate the challenges that life presented him.

Toby Keith Physical Measurements and More

Toby Keith’s physical attributes paint a picture of a distinctive and vibrant personality:

Eye colorBlue
Hair colorRegular blond
Skin TypeNormal
Height6’2″, 190cm
Weight95Kg, 205lbs
Feet size12
Favorite colorsblue and white

These details offer a glimpse into the physical characteristics and personal preferences that contribute to the unique presence of Toby Keith.

Personal Life

Marital statusMarried (Since 1983)
Current WifeTricia Covel
ChildrenDaughter: Krystal Keith Covel, Shelley Covel Rowland
Son: Stelen Keith Covel

In the realm of personal life, Toby Keith’s journey is marked by significant milestones:

On March 24, 1984, Toby tied the knot with Tricia Lucus. Their union brought forth three children: Shelley welcomed into the family in 1980 and officially adopted by Keith in 1984, Krystal born in 1985, and son Stelen, who entered the world in 1997. The next generation brought joy, with Toby becoming a grandfather to two granddaughters and one grandson through his daughter Shelley.

However, life took a poignant turn on March 24, 2001, when tragedy struck. Toby Keith’s father met with a fatal car accident. This heartbreaking incident, coupled with the seismic events of September 11, 2001, served as the catalyst for Toby’s creation of the impactful and somewhat controversial “Courtesy of the Red, White, and Blue (The Angry American).” While the song resonated strongly, especially among military personnel, it sparked a notable conflict between Keith and Natalie Maines of The Dixie Chicks.

Turning to philanthropy, Toby Keith actively lends his support to noble causes. He filmed a public service announcement (PSA) for Little Kids Rock, a national nonprofit dedicated to restoring and revitalizing music education in disadvantaged U.S. public schools. In addition, he supports Oklahoma’s Ally’s House, a nonprofit that helps children with cancer.

Toby Keith’s personal and philanthropic initiatives demonstrate family, endurance, and a kind spirit dedicated to helping others.

The Career of Toby Keith


Toby Keith entered the music industry in Nashville in the early 1990s. He sent demo recordings to many record companies while busking on Music Row. Toby persisted despite initial indifference. He briefly returned to Oklahoma when things were uncertain to get a recording contract at 30.

Lucky for him, an Easy Money Band fan, and a flight attendant, gave Toby’s demo tape to a Mercury Records executive. Toby’s unique voice impressed the executive, who signed him to a recording contract.

Toby’s 1993 breakthrough hit, “Should’ve Been a Cowboy,” topped country and pop charts. After three million radio plays, the song became the most-played country song of the 1990s, surpassing Billy Ray Cyrus’ “Achy Breaky Heart.”

Toby’s first four Mercury Records studio albums—”Toby Keith” (1993), “Boomtown” (1994), “Blue Moon” (1996), and “Dream Walkin'” (1997)—continued his early popularity. Many top-10 hits came from these albums. He joined DreamWorks Records Nashville in 1998 and released “How Do You Like Me Now?” in late 1999. This title hit topped the 2000 country charts and launched DreamWorks Nashville’s popularity.

His next three albums, “Pull My Chain,” “Unleashed,” and “Shock’n Y’all,” each had three additional number-one hits and were certified four times Platinum. Toby created an album every year from 1993 to 2000. Despite label issues for his 1999 album “How Do You Like Me Now,” Toby bought back the album rights for $93,000 and sold them to DreamWorks for $200,000. This strategy worked, with “How Do You Like Me Now” selling 3.1 million copies.

Toby Keith has released 19 studio albums, two Christmas albums, and five compilation albums, selling over 40 million worldwide. He sold three million copies of his 2002 album “Unleashed,” which included Willie Nelson’s “Beer for My Horses” duet, establishing his country music stardom.

Entrepreneurial Career

In 2004, Toby Keith made a strategic move by investing $400,000 in a 10% stake in Big Machine, a decision that proved to be a lucrative gamble. Big Machine, under Toby’s influence, went on to sign major artists such as Tim McGraw, Rascal Flatts, and Taylor Swift. Notably, each time an artist from Big Machine receives payment, Toby Keith also benefits, establishing a continuous revenue stream for him.

Shortly after venturing into the realm of record labels, Toby Keith received an intriguing proposition from Don Marrandino, a Las Vegas casino owner. Marrandino sought to introduce a Toby Keith-themed restaurant, aptly named “I Love This Bar and Grill,” within his casino. The venture proved immensely successful, and by the end of 2004, it ranked among the top 50 grossing restaurants in the United States.

While many might have considered these achievements sufficient, Toby Keith’s entrepreneurial spirit did not wane. Inspired by his friend Sammy Hagar’s $80 million sale of the Cabo Wabo tequila company in 2007, Toby decided to enter the spirits business. Contemplating between a Bourbon or vodka brand, he eventually opted for Mezcal. Toby collaborated with a distributor and embarked on tasting sessions at various family-run Mezcal distilleries. This endeavor resulted in the launch of “Wild Shot” Mezcal in March 2011, quickly securing its position as the number one premium Mezcal in the United States by the year’s end. This foray into the liquor industry marked the final piece of Toby’s expanding empire, contributing significantly to an estimated annual earnings ranging from $60 to $100 million.

Toby Keith’s ventures showcase not only his musical prowess but also his astute business acumen, allowing him to carve a niche in various industries and solidify his status as a savvy entrepreneur.

Toby Keith’s Tour History

Unleashed Tour 2002:

The Unleashed Tour began Toby Keith’s extensive concert career in 2002.

Shock’N Y’all Tour 2003:

After the Unleashed Tour, Toby delighted fans with the 2003 Shock’N Y’all Tour.

Big Throwdown Tour (2004):

On his 2004 Big Throwdown Tour, Toby Keith delivered amazing performances in many venues.

Second Big Throwdown Tour (2005):

Big Throwdown Tour II, released in 2005, gave fans more of Toby’s thrilling shows.

Tour: White Trash With Money (2006)

Toby Keith performed on the 2006 White Trash With Money Tour, demonstrating his musical and stage charisma.

Hookin’ Up and Hangin’ Out Tour (2007):

Toby Keith’s 2007 Hookin’ Up and Hangin’ Out Tour gave audiences a wonderful musical experience.

Biggest and Baddest Tour (2008 – 2009):

The 2008–2009 Biggest and Baddest Tour cemented Toby’s reputation for epic performances.

America’s Toughest Tour (2009):

Fans enjoyed Toby Keith’s 2009 America’s Toughest Tour, demonstrating his country music longevity.

Toby Keith’s American Ride Tour (2010):

Toby’s 2010 American Ride Tour brought his chart-topping singles to fans nationwide.

Locked and Loaded Tour (2011):

Toby Keith’s 2011 Locked & Loaded Tour was electrifying and locked in.

Hammer Down Tour 2013:

Toby’s 2013 Hammer Down Tour showed his dedication to spectacular performances.

Hammer Down Under Tour 2014:

In 2014, Toby Keith’s Hammer Down Under Tour performed his country hits abroad.

Tour of Good Times and Pick-Up Lines 2015:

With his 2015 tour, Toby Keith connected with fans through music and fun pick-up lines.

Tour of Interstates and Tailgates 2016:

Toby’s 2016 Interstates and Tailgates Tour confirmed his fame as a touring musician.

Cowboy Shoulda Been XXV 2018:

Toby Keith’s 2018 tour revisited “Should’ve Been A Cowboy,” celebrating its 25th anniversary with a fresh musical experience.

Toby Keith’s concerts illustrate his musical progression and his ability to charm audiences over the years.

Toby Keith’s Business Ventures: A Masterclass in Entrepreneurship

Toby Keith is a successful entrepreneur and businessman in addition to his chart-topping hits and loyal fans. Keith was dedicated to his craft from the start in 1993. In his first year touring, he promised 150 shows for $10,000 apiece. This dedication paid off, as the success of his second single not only doubled his bookings but also increased his earnings.

Keith’s entrepreneurial journey took a significant turn in 2005 when he founded his own label, Show Dog. In a strategic move, he traded half of his upcoming album and provided a greatest hits compilation to his former label, Universal. This bold step showcased Keith’s business foresight, allowing him to chart his own course in the music industry.

Not content with just one venture, Keith also invested substantially in the establishment of a new label, Big Machine. This move granted him a noteworthy stake of around 10%. The dividends from this investment went beyond his personal success, extending to profits from artists signed under Big Machine, such as Rascal Flatts, Tim McGraw, and notably, Taylor Swift. The symbiotic relationship between Keith and Big Machine turned out to be a lucrative arrangement, contributing significantly to their mutual success.

Taylor Swift’s relationship with her former label president, Scott Borchetta, became a tale, yet this partnership was profitable for everyone, including Toby Keith.

Toby Keith’s business venture shows his musical talent and smart decision-making in the ever-changing music industry. Keith’s impact on the stage and boardroom goes beyond melodies as an artist and business.

How much does Toby Keith make from music?

With a prolific discography comprising 21 studio albums, 2 Christmas albums, and 7 compilations since his debut in 1993, Toby Keith has undeniably solidified his status as both a prolific and immensely popular artist. Boasting 40 million in sales, his musical journey has not only resonated with fans but has also translated into substantial financial success.

Forbes, in its report, painted a vivid picture of Keith’s financial prowess. In 2013, a one-off performance at the Houston rodeo fetched him a staggering $1 million. The article further highlighted that in the twelve months leading up to the show, Keith raked in an astonishing $65 million. Impressively, this was part of a consistent trend, with the artist not earning less than $48 million annually in the five years preceding this windfall.

Keith’s track record of achieving a #1 country hit every year for the past two decades is a testament to his enduring musical prowess. Over this time frame, his cumulative earnings are estimated to have surpassed the remarkable milestone of $500 million.

Delving into the streaming landscape, Keith’s presence on Spotify alone is a lucrative venture. Even with a conservative estimate, his monthly earnings from Spotify streams hover around $180,000. This figure doesn’t even account for the additional revenue generated through radio play and royalties, further solidifying Keith’s position as a financial powerhouse in the music industry.

Toby Keith Net Worth Breakdown

Unraveling the layers of Toby Keith’s astounding net worth requires a closer look at the key contributors to his financial empire:

1. Music Sales and Streaming: Toby Keith’s musical legacy is a goldmine, with substantial revenue pouring in from album sales and digital streams. His extensive catalog, spanning albums and singles, continues to be a lucrative source of income.

2. Concert Tours and Live Performances: Keith’s prowess on stage is not just an artistic triumph; it’s a financial powerhouse. The combination of sold-out concerts, ticket sales, and merchandise transactions significantly bolsters his net worth.

3. Business Ventures: Beyond the melodies, Keith’s entrepreneurial ventures play a pivotal role in his wealth accumulation. His record label, Show Dog Nashville, and the thriving chain of “Toby Keith’s I Love This Bar & Grill” establishments contribute substantially to his financial portfolio.

4. Endorsements and Brand Collaborations: Keith’s influence extends beyond music into the realm of endorsements and brand partnerships. These collaborations, a common stride for successful artists, add yet another layer to his financial success.

As the curtains rise in 2023, Toby Keith’s net worth stands at an impressive $365 million, firmly establishing him among the music industry’s financial elite. This staggering wealth not only mirrors his musical prowess but also underscores his ability to navigate diverse avenues of income.

Keith’s journey is more than a musical saga; it’s a tale of astute entrepreneurship and strategic investments. Beyond the spotlight, he has demonstrated a shrewd business acumen, evident in ventures like Show Dog Nashville and the flourishing “I Love This Bar & Grill” chain. These enterprises, seamlessly intertwined with his musical earnings, weave a narrative of financial triumph, elevating his net worth year after year.

Toby Keith’s Triumphs in Awards

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

In the realm of accolades, Toby Keith’s journey is marked by noteworthy victories. He won the 2001 Academy of Country Music Award for Top Male Vocalist, demonstrating his vocal prowess and effect on country music. After winning Top Country Artist at the 2002 Billboard Music Awards, he solidified his career.

Toby Keith earned the National Medal of Arts in 2021 for his great achievements in the arts in the US. This accolade not only underscores his musical achievements but also highlights his broader influence on the cultural landscape.

Toby Keith’s Favorite Quotes

  • “My father lost his right eye in the service, yet he flew a flag in our yard until his death. “He wanted my mother, brother, sister, and me to grow up happy in the free world.” — Toby Keith
  • No matter the cost, I’ll do my duty. I’ve counted up the cost, I know the sacrifice. Oh, and I don’t want to die for you, but if dying is asked of me, I’ll bear that cross of honor because freedom doesn’t come free.” – Toby Keith
  • “Grandpappy told my pappy, back in my day son, a man had to answer for the wicked he’d done. Take all the rope in Texas, find a tall oak tree, round up all the bad boys, and hang them in the streets for all the people to see.” – Toby Keith
  • “A sucker punch came flying from somewhere in the back. As soon as we can see clearly with our big black eye, we’re going to light up your world like the fourth of July.” – Toby Keith
  • “I’ve always said I can’t tell sometimes that people even have an album out until I see them nominated for a Grammy. I think the country gets dumped on across the board by the Grammys.” – Toby Keith

Toby Keith’s words encapsulate a blend of patriotism, resilience, and a candid perspective on the music industry. Through his lyrics and reflections, he articulates a deep connection to American values and an unapologetic stance on various aspects of life.

Toby Keith shares stomach cancer battle.

Country music star Toby Keith made his first public comment about his stomach cancer battle in June. In an interview on CMT’s “Hot 20 Countdown,” the 61-year-old singer discussed his health and his plans to get fit. “I’m contemplating a return to a healthier state,” Keith said in a social media teaser, suggesting future trips.

Social media

Stay connected with Toby Keith on social media:

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As of 2023, Toby Keith’s $400 million net worth shows his unequaled accomplishment as a versatile entertainment personality. From humble beginnings in Oklahoma to country music superstar, Keith’s journey is distinguished by grit, talent, and entrepreneurship.

Diverse income streams have helped him enhance his net worth over time. Music sales, concert tours, his record label and restaurant chain, sponsorships, and brand collaborations demonstrate Keith’s financial prowess.

Toby Keith’s influence on country music goes beyond finances. His chart-topping tunes and unique style have made him a genre classic. His music reflects his patriotism, making him a popular character in American country music.

Keith’s entrepreneurial success, from his record label to his restaurant chain, shows his financial savvy and ability to build a brand beyond music.

Toby Keith’s net worth is a testament to his legacy as a country music titan who has left an indelible mark on fans’ hearts and created a financial empire through a harmonious blend of musical artistry and entrepreneurial endeavors.

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