Here's How David Foster Spends His Massive $150 Million Net Worth

Summary

• David Foster has had a successful career as a Grammy-winning music producer, working with big-name artists like Celine Dion and Whitney Houston.
• Foster enjoys a luxurious lifestyle, with a net worth of $150 million, which allows him to travel and live comfortably with his wife.
• From purchasing a new $7.1 million home to enjoying double dates with Prince Harry and Meghan Markle, Foster knows how to live his life like it's golden.

Long before he became a Grammy-winning music producer and executive, David Foster was an up-and-coming talent, working under the mentorship of Tommy Banks. Foster would grow to become a producer in his own right, churning out songs for The Tubes, Chicago, Kenny Rogers, Celine Dion, Whitney Houston, and Josh Groban, to name a few artists he has worked with. He also worked on composing scores for films such as The Secret of My Success.

Speaking of success, Foster owes much of his to his father. He’s found success of his own and has a catalog that includes work on the controversial film The Bodyguard, the soundtrack from which sold millions of copies. It goes without saying that the success of his works equates to a mammoth net worth, and Foster knows exactly how to spend his money.

Here are the many ways we have seen him live his life like it’s golden.

Updated November 2023: David Foster is approaching his mid-70s and is still investing in his career. He has been booking shows and planning tours.. As of now, he has a net worth of approximately $150 million, allowing him the freedom to travel with his wife and live a comfortable life.

8 A Six-Figure Engagement Ring

Price: Between $100,000 - $150,000

Back in 2018, Foster, who had been rumored to be dating Katharine McPhee since 2017, popped the question with a five-carat ring estimated to have cost him figures between $100,000 and $150,000.

The pair first met on American Idol where McPhee was a contestant, and it wasn’t until 2017 that chemistry brewed between the two. The ring is particularly special to McPhee, as it was the last thing she showed to her father before he passed away.

7 Purchasing A New Family Home

Price: $7.1 Million

In 2020, word went around that Foster and former American Idol runner-up Katharine McPhee, whom he married in 2019, were house-hunting around L.A. In 2021, it was reported that McPhee and Foster had set their sights on a $7.1 million home on Brentwood Park that was built in the 1920s.

In addition to providing a perfect view of Los Angeles, the house boasts six bedrooms and five bathrooms, which technically don’t matter, as the couple is set to bring the structure down and have their dream house built.

6 Who Are David Foster's Famous Neighbors?

They Live Close To James Corden

Although the perfect home for McPhee and Foster would be right next door to Meghan Markle and Prince Harry, with whom they share a great friendship, the pair is not short of famous neighbors within walking distance of their newly purchased property.

Should McPhee ever have time for a little chitchat, she wouldn’t have to go too far as jewelry designer Jennifer Meyer is pretty close. Also close nearby is previous The Late Late Show host, James Corden.

5 Double Dates With Prince Harry And Meghan Markle

Spend Time With Royals

McPhee once revealed that, as children, she and Meghan Markle both participated in musicals. According to Us Weekly, Meghan Markle and McPhee knew each other growing up, but they weren’t that tight. However, when Harry and Meghan decided to forgo being royals, they grew pretty close. Both couples have been spotted at Lucky’s Steakhouse in the past, enjoying a double dinner date.

4 Foster And McPhee Enjoy Cruises

Price: Mediteranean Cruises Cost Around $3000 Per Person (Royal Carribean Blog)

Right before Foster and McPhee tied the knot in 2019, the pair went vacationing in Italy and Greece. The Grammy Award-winning composer and The House Bunny actress were keen on having the time of their lives on an '80s-themed cruise.

The soon-to-be newlyweds at the time couldn’t keep their hands off of each other. McPhee posted a picture of her planting a kiss on the cheek of her man, who was all smiles.

3 A Love For Yamaha Pianos

Price: Up To $100,000 (Piano Price Point)

It goes without saying that music is Foster’s first love. When it comes to pianos, Foster is specific with his brand of choice. The producer has only owned the Yamaha brand of pianos in the last 20 years of his career.

He owns a nine-foot grand which he thinks is perfection at its best. In addition to that, Foster is still in possession of a spinet that he bought when he was seventeen and hadn’t made the money he has today.

2 Foster Has A Killer Car Collection

David Foster Has An Affinity For German Engineering

Before he made it big, Foster made a pact with himself that he would buy a Mercedes 450 SL. That dream came true in 1978. He’s since added more toys and has a particular affliction for black cars. In fact, when he bought his dream car, it was copper-colored, and Foster’s first order of business was to give the car a black color of paint.

While he has an inclination towards Mercedes the same way he’s all loved up when it comes to Yamaha, some of the bad boys Foster has had in his collection include an Aston Martin, which he bought after watching a James Bond movie.

According to MoneyMade, Foster's favorite car was lost in a Malibu forest fire. It was a 991 Chevy Suburban

1 Foster Is Giving Back Through Charity

$35.8 Million In Funding Reserves

Every celebrity has a preferred area of philanthropy. Jennifer Lopez likes to work with children, Beyoncé has a passion for uplifting the less fortunate in a self-sufficient way, and Taylor Swift often gives to and supports music-related charity drives.

The David Foster Foundation was inspired by a little girl who was waiting for a liver transplant. The foundation aids families of ailing children who are waiting for transplants, and also focuses on organ donor awareness. The David Foster foundation had donations of $1.5 million in 2021, and has $35.8 million in funding reserves.