After high school, Parton immediately moved to Nashville to continue building momentum in her music career. It was there she wrote both hit singles “Jolene” and “I Will Always Love You”—on the same day, no less—two songs that were later cemented as country classics. Her partnership with singer and television star Porter Wagoner in 1967 also helped her gain national recognition. 

But what also made Parton so prominent in the music industry was her business savvy. She always retained ownership of her songs, a rare move that helped balloon her wealth to an estimated $650 million. It was especially helpful that she chose to do that when Whitney Houston’s version of “I Will Always Love You” became a global hit in the 1990s. 

Notably, Parton even turned down Elvis Presley’s request in 1974 to record the song after his manager Colonel Tom Parker demanded half the publishing rights. 

“I said, ‘I’m sorry, but I can’t give you the publishing.’ I wanted to hear Elvis sing it, and it broke my heart—I cried all night,” Parton told W Magazine in 2021. “But I had to keep that copyright in my pocket. You have to take care of your business.”

Getty Images—Michael Ochs Archives

Parton had established her own publishing company in 1966, which helped her hold onto nearly all of her publishing rights. This meant she got paid a larger royalty whenever one of her songs is played or covered. And she wasn’t about to let even The King slide past those rules. 

“Everybody’s going to use you if they can,” she continued. “These are my songs—they’re like my children. And I expect them to support me when I’m old.”

Dolly Parton’s health and how she grew her wealth

Parton, who has built a legendary career in entertainment from her music, acting roles, and her theme park, Dollywood, in Tennessee, has been in the news recently due to health challenges, which forced her to postpone her upcoming Las Vegas residency from December to next September. 

The 79-year-old sensation has remained upbeat, though, about her condition, reassuring fans she’s not ready to retire yet. 

“It must be time for my 100,000 mile check up, although it’s not the usual trip to see my plastic surgeon,” Parton joked in an Instagram post last week. “And don’t worry about me quittin’ the business because God hasn’t said anything about stopping yet.”

But fans were alarmed this week when one of Parton’s 11 siblings, Freida, posted on Facebook asking for prayers for her superstar sister. 

“Last night, I was up all night praying for my sister, Dolly,” Freida wrote in a Tuesday post. She later wrote a separate post saying she “didn’t mean to scare anyone or make it sound so serious when asking for prayers for Dolly.”

While a large portion of Parton’s wealth (an estimated $150 million) comes from her music catalog, she also earns millions in royalties and co-owns Dollywood, which reportedly generates hundreds of millions in revenue each year from roughly 3 million visitors. 

Parton is also a dedicated philanthropist, having founded the Dollywood Foundation in 1988. Her foundation focuses on supporting children in her hometown of Sevier, Tennessee, through educational programs. She’s also made multimillion-dollar donations to disaster relief, medical research, and scholarships. In 2022, she received the Carnegie Medal of Philanthropy, joining the ranks of other major philanthropists like Bill and Melinda Gates, Michael Bloomberg, Paul Allen, and the Rockefeller family.

Although Parton is taking a break for now, she said she’s doing it for the sake of her fans, too.

“You pay good money to see me perform, and I want to be my best for you,” she wrote. “I believe [God] is telling me to slow down right now so I can be ready for more big adventures with all of you.”