The Doctor Is Out! Dr. Phil's Net Worth In 2023

Find out how much Oprah Winfrey's favorite shrink is worth now that his show is winding down.

Dr. Phil's net worth comes from multiple revenue streams, but mostly from his eponymous talk show—and he announced on Jan. 31, 2023, that it was coming to a close after a whopping 25 seasons.

"I have been blessed with over 25 wonderful years in daytime television," Dr. Phil McGraw revealed in a statement to PEOPLE. "With this show, we have helped thousands of guests and millions of viewers through everything from addiction and marriage to mental wellness and raising children. This has been an incredible chapter of my life and career, but while I'm moving on from daytime, there is so much more I wish to do."

The news comes after the show laid off 25 staffers ahead of the Season 21 premiere. McGraw reportedly is planning a transition into primetime television in a different capacity.

Find out Dr. Phil McGraw's net worth now that his hit show is wrapping up.

Related: Why Dr. Phil Is Ending

How did Dr. Phil get famous?

Much of Dr. Phil McGraw's success is largely thanks to billionaire Oprah Winfrey, but his success story actually started decades earlier.

After working as a psychologist in private practice with his father in Wichita Falls, Texas, they co-founded Pathways self-help seminars with a local businesswoman named Thelma Box in 1985. Six years, McGraw sold his share in the company for a cool $325,000.

In 1990, McGraw co-founded Courtroom Sciences Inc. (CSI), a trial consulting firm,  with attorney Gary Dobbs. The venture was massively successful, and it was through his work with CSI—which also counted major airlines and Fortune 500 companies among its clients—that he met Winfrey.

Winfrey hired CSI in 1995 to help her prepare for the Amarillo Texas beef trial, in which she was successful. She loved his work so much that she invited him onto her show after the case wrapped in 1998, and he was such a hit that he became a weekly guest giving relationship and life advice to her audience members.

Four years later, McGraw founded Peteski Productions and launched Dr. Phil under Winfrey's Harpo Productions umbrella.

Related: See a Throwback Snap From Dr. Phil McGraw's Wedding Day

What is Dr. Phil's net worth in 2023?

Dr. Phil's net worth is estimated at $460 million in 2023. This is mostly from his eponymous TV show, on which he's both a host and producer. However, he also rakes in cash as a podcaster and author, as well as a TV producer of several other shows, including Daily Mail TV and The Doctors. He also frequently cameos in other media, including Scary Movie 4.

Related: How Oprah Winfrey Became a Billionaire

How much does Dr. Phil make a year?

According to Forbes, Dr. Phil McGraw rakes in a whopping $95 million per year, making him the highest-paid TV host currently on air as of 2019. In the earliest seasons of Dr. Phil, he made $15 million per season.

How much does Dr. Phil make per episode?

Dr. Phil McGraw's income per episode may vary depending on advertising revenue, of which he's entitled to 50%, as well as product placement fees, which can vary per episode depending on guests and subject matter.

That said, if he earned $50 million in advertising revenue from the show alone per year, at 162 episodes per year, he rakes in $308,641.97 per episode just for that. Of course, earlier seasons likely paid significantly less.

Related: Kelly Clarkson's Net Worth and How Much She Paid Her Ex In Her Divorce

How much does Dr. Phil make from Bull?

Dr. Phil McGraw was an executive producer on the hit CBS series Bull, which ran for six seasons. His income from the show isn't publicly known, but one thing is for sure: The title character isn't really based on him.

“One of the fundamental misconceptions of the show… was that it was some sort of biography, you know, there is no aspect of biography,” Bull star Michael Weatherly told Entertainment Tonight Canada. “What is very true and Phil McGraw helps with a lot is the trial science and the analysis of how to best move forward in a jury trial. So, how do you prep your witnesses, how do you select or deselect a jury, and that process is fascinating.”

Next, find out Ellen DeGeneres' net worth.