Toby Keith’s net worth: How the singer became a ‘Cowboy Capitalist’ and made his fortune

Toby Keith, known for his songs Should’ve Been a Cowboy and Courtesy of the Red, White, & Blue has died at the age of 62.
His family issued a statement stating that the musician “passed peacefully” in his sleep surrounded by family on February 5 2024. 
They wrote: “He fought his fight with grace and courage. Please respect the privacy of his family at this time.”
Toby was one of the richest and most successful country singers of all time after releasing 21 albums, with his first album Toby Keith and Boomtown being released in 1993.
At the time of his death, Toby was worth $500 million after selling 40 million records throughout his incredible 30-year career.
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Part of Toby’s success is due to his popularity and iconic songs as he released 69 singles, with 65 of his songs entering the Billboard Country charts and 20 of those songs reaching number one.
One of Toby’s most career-defining hits is his song Courtesy of the Red, White, & Blue which he wrote after being inspired by the death of his veteran father and the September 11, 2001 attacks.
The song immediately exploded in popularity and became Toby’s biggest solo hit. In an interview with CBS, Toby stated that the song was a patriotic tribute to America.
Toby said: “It wasn’t written for everybody. And when you write something from your heart – I had a dad who was a veteran, taught me how precious our freedom is.
“I was so angry when we were attacked here on American soil that it leaked out of me. You know, some people wept when they heard it. Some people got goosebumps. Some people were emotionally moved. Some cheered, turned their fists in the air.”
However, the song was not without controversy as Toby had a famous feud with the Dixie Chicks over the song after comments the band made about George W Bush.
Lead singer of the Dixie Chicks Natalie Maines stated publicly she believed Courtesy of the Red, White, & Blue was “ignorant, and it makes country music sound ignorant.”
Toby responded to Natalie by showing a doctored photo of her with Saddam Hussein at his concerts, but in 2003 Toby’s representation declared he wished to be done feuding with the band as “he’d realized there are far more important things to concentrate on.”
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However, outside of his music Toby was a savvy businessman and he owned several restaurants throughout the US after originally opening Toby Keith’s I Love This Bar & Grill in Okahoma in 2005.
Toby also had his own line of clothing called TK Steelman and his own drink named Wild Shot which is the featured drink in his restaurants.
In 2013, Forbes featured Toby on the front page of the publication alongside the caption “Country Music’s $500 million man” alongside an article called “Cowboy Capitalist.”
At the time, Toby was earning more than $48 million a year making him richer than other well-known musicians such as Beyoncé due to his business ventures.
However, Toby’s ability to write incredible country songs, many of which became number ones, is the reason the star was able to achieve his vast fortune.