David Foster Net Worth (Money & Salary)

What is David Foster’s net worth?

With a net worth estimated at $150 million, David Foster, a Canadian musician, record producer, composer, singer, songwriter, and arranger, has made significant contributions to the music industry. Throughout his career, he has played a crucial role in discovering talents like Michael Buble, Josh Groban, and Celine Dion. Additionally, Foster has produced albums for numerous renowned artists including Mariah Carey, Whitney Houston, Andrea Bocelli, Chicago, and Toni Braxton. His extensive credits also feature productions for Madonna, Air Supply, and the late pop icon Michael Jackson. Having received 16 Grammy Awards out of 47 nominations, he has facilitated the sale of over 500 million albums for the musicians he has collaborated with over the years.

David’s net worth could likely be even greater had he not experienced four divorces. Presently, he is married to singer/actress Katharine McPhee. Aside from his personal endeavors, David has contributed and donated hundreds of millions of dollars to charities, mainly through the David Foster Foundation, which focuses on supporting children battling life-threatening medical conditions.

Early Life

Born on November 1, 1949, in Victoria, British Columbia, Canada, David Walter Foster is the son of Maurice (Maury) Foster, who served as a maintenance yard superintendent, and Eleanor May (née Vantright), a homemaker. At the age of 13, in 1963, he joined the music program at the University of Washington. By 1965, he auditioned to become the band leader at a nightclub in Edmonton, a venue owned by famed jazz musician Tommy Banks, who took Foster under his wing and offered guidance in the music business. Following his experience with Ronnie Hawkins and as part of a backup band for Chuck Berry in Toronto, he relocated to Los Angeles in 1974 with his band Skylark.

Career

David Foster was initially a keyboardist for the pop band Skylark, which was discovered by Eirik Wangberg; their song “Wildflower” became a top-ten hit in 1973. Following the band’s breakup, Foster stayed in Los Angeles and formed Airplay with Jay Graydon. Alongside his own music pursuits, he began collaborating as a songwriter, producer, and arranger on various projects. Notably, he contributed as a studio player and arranger for Earth, Wind & Fire’s 1979 album “I Am,” co-writing six songs, including “After the Love Has Gone,” which earned the Grammy Award for Best R&B Song in 1980 alongside Graydon and Bill Champlin.

Throughout the 1980s, Foster continued to thrive as a producer and songwriter. His work during this period includes albums for Chicago, as well as the songs “Forever” (1985) and “Heart to Heart” (1982) for Kenny Loggins. He also contributed to Kenny Rogers’s albums “What About Me?” (1984) and “The Heart of the Matter” (1985). Furthermore, he composed the score for “St. Elmo’s Fire” (1985) and wrote songs for the movies “The Secret of My Success” (1987) and “Stealing Home” (1988). He also created the theme song “Winter Games” for the 1988 Winter Olympics held in Calgary, Alberta.

In 1995, Foster established a deal with Warner Brothers that enabled him to create his own boutique label, 143 Records, as a joint venture with Warner. One of the label’s first signings was the Irish folk-rock band The Corrs.However, by the year 1997, the label was sold back to Warner by Foster, who subsequently took on the role of senior vice president at the corporation. Among the notable songs Foster produced during the 1990s are “The Power of the Dream,” the official anthem for the 1996 Summer Olympics, co-composed with Kenneth “Babyface” Edmonds, along with songs like “Un-Break My Heart” sung by Toni Braxton, “Because You Loved Me” performed by Celine Dion, and “Have You Ever?” delivered by Brandy.

In 2008, a one-night concert titled “Hitman: David Foster & Friends” was hosted by Foster in Las Vegas. The performance showcased songs he had written or produced throughout his 35-year career, with Foster prominently featured on the keyboard. Artists such as Andrea Bocelli, Celine Dion, Blake Shelton, and Katharine McPhee supported the event. By 2011, Foster was announced as the next Chairman of Verve Music Group; however, he departed the label in 2016 following a corporate reorganization. He has produced an array of albums for various artists, including Bryan Adams, Andrea Bocelli, Mary J. Blige, Josh Groban, Michael Buble, and Renee Olstead, among others. The production of several best-selling Christmas albums is another highlight of his career, with titles such as Celine Dion’s “These Are Special Times” (1998), Josh Groban’s “Noël” (2007), Rod Stewart’s “Merry Christmas, Baby” (2012), and Jordan Smith’s “Tis the Season” (2016). He produced the best-selling Christmas albums in the years 1998, 2007, 2008, 2009, 2011, and 2012. In 2022, he recorded a seven-song Christmas EP entitled “Christmas Songs” with his fifth wife, Katherine McPhee.

Television Appearances

Foster’s career as a distinguished music producer has provided him numerous chances to appear on television, especially on music-oriented programs. In April 2006, he served as a guest mentor on “American Idol” and was also a guest judge on “Nashville Star.” His appearances include the shows “Celebrity Duets,” “Star Tomorrow,” “The View,” “The Oprah Winfrey Show,” and “The Real Housewives of Beverly Hills.” Additionally, he was a judge on the competition show “Asia’s Got Talent” in the years 2015, 2017, and 2019. In 2021, alongside McPhee, he took part in season six of “The Masked Singer,” performing as “Banana Split,” but they were eliminated in the Group B Finale while competing against Jewel.

Personal Life and Philanthropy

Married five times, Foster has five biological daughters and seven grandchildren. His initial marriage was to singer and writer B.J. Cook. Between 1982 and 1986, he was married to Rebecca Dyer. His third marriage, to actress Linda Thompson, lasted from 1991 until 2005. During this time, they collaborated as a songwriting team, creating songs including “I Have Nothing,” which Whitney Houston performed in the film “The Bodyguard” (1992). While married to Thompson, Foster became the stepfather to Brody and Brandon Jenner, Thompson’s sons from her previous relationship with Caitlyn Jenner (formerly Bruce Jenner). Together, Thompson, Foster, and the two Jenners briefly starred in a reality television show, “The Princess of Malibu” (2005).

Foster’s fourth marriage was with Dutch model Yolanda Hadid, spanning from 2011 to 2017.

In June 2018, FosterEngaged to singer and actress Katharine McPhee, who is 34 years younger than him, David Foster tied the knot in June 2019. In February 2021, the couple welcomed their son, Rennie David.

Real Estate

In 2014, David and his fourth wife, Yolanda, sold their penthouse in Victoria for $5 million. The following year, they sold their Malibu estate for $19 million after initially listing it at $27.5 million.

In 2020, David Foster placed his condominium on the Wilshire Corridor on the market for $3.995 million. Subsequently, in 2021, David and Katharine purchased a mansion in Brentwood, Los Angeles, for $7.1 million.