Let me tell you something about Dolly Parton, and it's not just about her music. This year, she added four new cake mixes to her Duncan Hines collection, launched a fragrance called Scent From Above, created a pet apparel line named Doggy Parton, and even designed a limited-edition cookie cutter series with Williams Sonoma. That’s a woman who knows how to diversify!
Now, here’s the kicker—Dolly doesn’t just have a knack for creating catchy tunes; she’s a shrewd businesswoman too. “I always say, when it comes to business, I look like a woman, but I think like a man,” she quips. And it works for her. By the time people figure out she's onto something, she’s already secured the deal and moved on. It’s a strategy that has served her well over the years.
Dolly’s Business Acumen: Building an Empire from the Ground Up
Dolly’s business sense is as sharp as her wit. According to Forbes, her estimated net worth is around $350 million, though some sources suggest it could be double that. Her success stems from a simple mantra: “Always keep something back for you,” she advises. It’s a lesson she learned early on from her parents, Avie Lee and Robert, who were sharecroppers raising 12 kids in a one-room cabin in rural Tennessee. “It took her a while to learn to ask for what she deserves, but she knows her value and what’s right and what she’s worthy of,” says a close friend of Dolly’s.
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A Lesson in Deal-Making: The Elvis Presley Deal
In 1974, Dolly faced a pivotal moment in her career when Elvis Presley wanted to record her song “I Will Always Love You.” Excited at the prospect, Dolly was ready to jump on board—until Elvis’ manager, Col. Tom Parker, demanded she give up half the publishing rights. Dolly refused, trusting her instincts. “Something in my heart [said], ‘Don’t do that,’ and I just didn’t do it,” she recalls. Though the deal fell through, leaving her heartbroken, Dolly stood firm. “Everybody’s going to use you if they can. These are my songs. They’re like my children,” she explains.
The Whitney Houston Effect: Turning a Song into a Fortune
Fast forward to 1992, when Whitney Houston recorded “I Will Always Love You” for the soundtrack of The Bodyguard. The song became the best-selling single by a woman in the U.S., selling over 20 million copies worldwide. Overnight, Dolly became a very wealthy woman. “When Whitney came out, I made enough money to buy Graceland,” Dolly jokes. Today, her music publishing rights are estimated to be worth $150 million, but she’s holding onto them—for now. “For business reasons, estate planning, and family things, I might sell the catalog,” she muses. “But no matter who I sell to, I’ll still have control and credit for the songs.”
A Legacy of Giving Back: Dolly’s Philanthropy
Despite her financial success, Dolly isn’t one to flaunt her wealth. She and her husband, Carl Dean, still live in the same Brentwood, Tennessee, estate they bought in 1999. Their lifestyle is modest, with a few vacation properties and an RV. “Dolly spends money on living comfortably, mostly on practical purchases,” says a friend. “She might get an expensive comfy chair for Carl or a nice porch swing for the backyard, but she’s not one to indulge herself too much.” One exception? Her wigs and stage costumes, which can cost thousands.
Dolly’s Heart for Charity
Dolly doesn’t work hard just to buy fancy dresses or pad her bank account. Her Imagination Library has donated nearly 170 million books to children worldwide. Proceeds from Doggy Parton benefit animals in need, and in 2021, the Dollywood Foundation raised $700,000 for Tennessee flood victims. “I just give from the heart,” Dolly says. “I never know what I’m going to do or why I’m gonna do it. I just see a need, and if I can fill it, then I will.”
