The one song that made Dolly Parton over $10m
Dolly Parton could comfortably be a billionaire by now. Not only does she have a decades-long enduring career as one of the world’s most famous artists, but she has plenty of other streams of income pouring in, including brand deals, merch, books, TV shows, and even a theme park. With one song alone, she’s made herself over $10million in the 1990s alone.
Actually, though, Parton’s net worth sits at around $650m. Obviously, that is still an absolutely eye-watering sum. Parton is still incredibly wealthy, but she could be hoarding even more wealth if she wanted it.
The thing is that she doesn’t. The singer could easily be a billionaire but doesn’t let herself be as her extensive charitable giving keeps her well under that – a fact that the top one percent and plenty of other celebrities could learn from.
It would take too long for me to go through all the various schemes and charities Parton has set up or supports, but let’s name a few. There’s Dolly Parton’s Imagination Library, which mails every enrolled child a free book each month, helping the literacy of over 850,000 children. After the 2016 Great Smoky Mountains wildfires, Parton provided $1,000 a month to around 900 families, helping keep them afloat in a time of crisis. Her Dollywood Foundation does all sorts of things, including sending all the children of the people who work at her theme park to college, paying for their education, and simply providing jobs in the park’s local area.
Tragedy hits, and Parton has been known to cough up $1million like it’s nothing, because really, to her, it is. What does any of this have to do with her biggest song? Actually, a lot.
Off ‘I Will Always Love You’ alone, Parton made over $10m in the 1990s alone, with that figure doubling since. It’s important because it’s facts like that which contribute to the story of Parton’s wealth, as not only does her version perform well, but it’s Whitney Houston’s cover that allows the songwriter to absolutely rake it in on royalties. But it’s what Parton does with the money that contributes to the story of who she is as a person.
What did Dolly Parton do with the royalties for ‘I Will Always Love You’?
Parton was incredibly protective of this track. She once refused Elvis Presley the right to cover it as he would demand a songwriting credit on the track, despite it being all her own work. But when Whitney Houston wanted to sing it, she more than happily obliged.
Really, it’s Houston’s version that everyone knows best. Featuring in the film The Bodyguard, her big, balladic take is the one that instantly comes to mind and has become one of the most iconic heartbreak songs of all time, usurping Parton’s original. Perhaps another singer would be annoyed by that, or perhaps they’d be glad that they at least get the money for it, pocketing that cash without even a thank you – but not Parton.
As another prime example of the singer being a role model to all others, Parton spends a portion of her royalties from the song honouring what Houston has done for her. Showing her gratitude for the cover, Parton invested a portion of the royalties into a predominantly black neighbourhood in Nashville. “It was mostly just Black families and people that lived around there,” Parton said on the Watch What Happens Live With Andy Cohen as she explained how she invested in an office complex to boost the economy in the town, adding, “It was a whole strip mall. And I thought, ‘This is the perfect place for me to be, considering it was Whitney.’”
Deciding to invest the profits back into the black community, Parton thought it was a fitting way to honour the impact of Houston’s voice on the cover.
