David Foster Net Worth
David Foster has an estimated net worth of $180 million. David Walter Foster, OC, OBC is a multi-Grammy Award-winning Canadian musician, composer, songwriter, and arranger. He has been one of the few key figures in modern western music who has influenced most, if not all, of its recent changes for the majority of his nearly five-decade career. He earns the majority of his income from album sales, concerts, and music royalties.
His education was carefully designed to supplement his talent as a music prodigy. Foster began taking piano lessons when he was four years old and went on to attend the University of Washington’s music program nine years later.
He moved to Los Angeles in 1974 as a member of the band ‘Skylark,’ and after several years of struggle, he received his first Grammy Award in 1980.
He has since produced gold and platinum albums for artists such as Earth, Wind & Fire, Natalie Cole, Michael Bolton, Seal, Kenny Rogers, Dolly Parton, Chicago, Hall & Oates, Brandy, and ‘N Sync, as well as timeless classic songs for films such as ‘The Bodyguard,’ ‘Urban Cowboy,’ and ‘St. Elmo’s Fire.’
He served as chairman of Universal’s Verve Music Group from 2012 to 2016, adding another feather to his cap. He recently joined the judging panel of ‘Asia’s Got Talent.
To calculate David Foster’s net worth, add up all of his assets and subtract his debts, also known as liabilities.
David Foster’s assets include everything he owns, such as the amount of money in his checking or savings account, real estate equity, savings and investment plans, and items with a clear market value (car, jewelry, clothes, art, etc.).
All outstanding debts, including the remaining balance on his home, car, business or personal loan, credit card debt, back taxes, and anything else he still owes, are included in his liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$180 million|
|Monthly Salary:||$1 million|
|Annual Income:||$40 million|
|Source of Wealth:||Musician, Singer, Songwriter|
David Foster, the only son of Maurice (Morry) Foster and Eleanor May Foster, née Vantreight, was born on November 1, 1949, in Victoria, British Columbia, Canada. Jaymes, Ruth, Jeanie, Maureen, and Marylou are his five sisters. To support their large family, his father worked as a maintenance yard superintendent, while his mother stayed at home and cared for them.
He enrolled in the music program at the University of Washington in 1963. In 1966, he joined Chuck Berry’s backup band. He traveled to England as a teenager with the Victoria-based group ‘The Strangers,’ and later returned to Toronto to work with Ronnie Hawkins.
David Foster joined the pop group Skylark, where he played the keyboard. In 1972, they released their self-titled debut album. A song from the album, ‘Wildflower,’ became a top ten hit in 1973. Foster later collaborated with George Harrison on his albums ‘Extra Texture’ (1975) and ‘Thirty Three & 1/3’ (1976), and contributed to Earth, Wind & Fire’s album ‘I Am’ (1979).
The musical maestro had a busy decade in the 1980s. For The Tubes, he produced two albums: ‘The Completion Backward Principle’ (1981) and ‘Outside Inside’ (1983). He was also instrumental in the rise of the American rock band ‘Chicago,’ producing ‘Chicago 16’ (1982), ‘Chicago 17’ (1984), and ‘Chicago 18’ (1986). He collaborated closely with the band’s vocalist, Peter Cetera, on the chart-topping song “Glory of Love” (1986).
Foster was dubbed “the master of… bombastic pop kitsch” in an article published in ‘Rolling Stone’ magazine in 1985. He received his first Academy Award nomination in 1986 for ‘Glory of Love.’ The song, sung by Cetera, was featured in ‘The Karate Kid Part II.’ Two years later, he wrote ‘Winter Games,’ the theme song for the XV Olympic Winter Games.
‘I Have Nothing,’ written by Foster and his then-wife Linda Thompson, was sung by Whitney Houston in the film ‘The Bodyguard’ (1992). In 1995, he signed a deal with Warner Brothers that allowed him to launch his own boutique label, 143 Records, with his then-manager Brian Avnet as CEO.
He wrote ‘The Power of the Dream,’ the official song for the 1996 Atlanta Olympics, with Kenneth “Babyface” Edmonds.
He collaborated with Lara Fabian and the Vancouver Symphony Orchestra in 2001 to create English, French, and bilingual versions of Canada’s national anthem, ‘O Canada.’
‘I’ll Make It Up As I Go,’ he wrote with his daughter Amy Foster-Gilles. The song was featured in the film ‘The Score,’ starring Robert De Niro and Marlon Brando (2001). The song ‘Stand Up for Love,’ written by the father-daughter duo and Beyoncé, became the anthem for World Children’s Day.
In the early 2010s, Foster began a new chapter in his career by becoming chairman of Universal’s Verve Music Group. He welcomed Andrea Bocelli, Diana Krall, Natalie Cole, Sarah McLachlan, and Smokey Robinson into the fold with the vision of transforming the legendary jazz label into the premier label for both industry veterans and promising new talents. Following the reorganization of the record label, he and Verve parted ways in 2016.
In April 2005, he appeared as a guest mentor on the reality competition show ‘American Idol,’ and then as a guest judge on ‘Nashville Star.’ In December 2008, he organized the PBS special titled ‘Hit Man: David Foster & Friends.’ At the event, Foster and other well-known artists performed.
He appeared on Andrea Bocelli’s live album, ‘Concerto: One Night in Central Park,’ in 2011. He has served as a judge on ‘Asia’s Got Talent’ since 2015.
David Foster collaborated with American singer Natalie Cole on the 1991 album ‘Unforgettable… with Love,’ which performed exceptionally well in the Pop, Jazz, and R&B markets, topping the US Billboard 200 and US Billboard Top Jazz Albums charts and reaching #5 on the US Billboard Top R&B/Hip-Hop Albums chart.
It also won six Grammy Awards in 1992, and was instrumental in Foster winning Producer of the Year, Non-Classical. The album was certified 7x platinum by the RIAA in 2009.
Awards & Achievements
David Foster has 47 Grammy nominations and 16 wins, including three Producer of the Year awards.
In 1995, he received the Order of British Columbia civilian honour merit, and in 1998, he received the Order of Canada honour merit.
At the 1998 Golden Globe Awards, he won Best Original Song for ‘The Prayer’ from ‘Quest for Camelot.’
For ‘The Concert for World Children’s Day,’ he received a Primetime Emmy Award for Outstanding Original Music and Lyrics in 2003. (shared with Linda Thompson).
In 2010, Foster was inducted into the Songwriters Hall of Fame.
In 2013, he received a star on the Hollywood Walk of Fame.
Since David Foster is rich, he owns some luxurious cars. Let’s take a look at his car collection.
|David Foster Car Collection||Price (USD)|
|BMW 3-Series Convertible||$59,800|
1. BMW 3-Series Convertible ($59,800)
The 3 Series has a new, improved design with the brand’s latest technology and more refined luxury. It features a 255-horsepower turbocharged four-cylinder and a 385-horsepower turbocharged six-cylinder, as well as a new plug-in hybrid model with rear-wheel or all-wheel drive and an eight-speed automatic transmission.
2. Audi A7 ($88,900)
The Audi A7 is between the Audi A6, which is a great luxury car with a sporty feel, and the Audi A8, which is the most luxurious Audi you can buy. The Audi A7 looks and drives well, and its hatchback design makes it much more practical.
3. Range Rover ($135,670)
This SVA is a full-fledged Range Rover, and it is also the most expensive Range Rover produced. Range is mostly used by famous personalities, businessmen and other wealthy people.
Autobiography is all about being well off and living in a very nice place. The SVA is powered by a 4999 cc supercharge eight-cylinder engine that makes 557 HP. The Range Rover also features a long wheelbase that makes the rear seats even more comfortable and gives passengers more legroom.
Personal Life & Wives
David Foster is the father of five biological daughters and the grandfather of four granddaughters and three grandsons. He has been married four times. Allison Jones Foster, his first child, was born in 1970, when Foster was 20 years old. He was forced to give her up for adoption soon after she was born. He wouldn’t see her for another 30 years.
In 1972, he married singer/writer B. J. Cook, with whom he has a daughter named Amy Foster-Gillies (born 1973).
He married Rebecca Dyer on October 27, 1982, following their divorce in 1981. Sara, Erin, and Jordan were born in 1981, 1982, and 1986, respectively. In 1986, Foster and Dyer divorced.
He married songwriter/lyricist Linda Thompson in 1991. Their relationship lasted 14 years before they divorced in 2005. He married his fourth wife, Dutch model Yolanda Hadid, in an 11/11/11 themed ceremony on November 11, 2011. They divorced in late 2015, and the divorce was finalized in May 2017.
Foster founded The David Foster Foundation in 1985 to provide financial assistance to Canadian families with children in need of life-saving organ transplants.
Foster is a close friend of Andrea Bocelli, the Italian tenor who is his all-time favorite singer.
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