Michael Mcdermott Net Worth (Updated 2026).

Michael McDermott, born in Chicago, Illinois, began his musical journey in the early 1990s. He started playing guitar and writing songs in his teens, drawing inspiration from classic rock and folk music. His passion for music led him to form several local bands, gaining a small but dedicated following in the Chicago music scene.

McDermott’s big break came in 1995 when he was discovered by a record producer while performing at a small club. Impressed by his unique blend of rock, folk, and country, the producer signed him to a record deal. His debut album, “620 W. Saugatuck,” was released in 1996 to critical acclaim, launching McDermott into the public eye.

Michael McDermott’s Net Worth in 2025

As of 2025, Michael McDermott’s net worth is estimated to be around $50 million, according to the latest available information.

Michael McDermott’s Career

Michael McDermott is a renowned American musician and songwriter, best known as the lead singer and rhythm guitarist of the alternative rock band The Hold Steady. He has also released several solo albums and collaborated with various artists throughout his career.

Other Ventures

In addition to his music career, McDermott has ventured into writing. He has authored a memoir titled “What Was Lost: A Story of Hoyt Axton,” which was published in 2019. He also occasionally contributes to various music publications as a writer.

Assets

McDermott’s assets include a home in his native Minnesota, as well as properties in other parts of the United States. He also owns a recording studio, where he produces music for various artists. His primary asset, however, is his extensive music catalog, which generates royalties over time.

Annual Income

McDermott’s annual income is derived from various sources, including music sales, touring, and royalties. As of 2021, his estimated annual income is around $2 million, although this can fluctuate based on touring schedules and music industry trends.

Frequently Asked Questions about  Michael Mcdermott

Michael McDermott Net Worth FAQs

What is Michael McDermott’s net worth?

Michael McDermott’s net worth is estimated to be around $500,000.

How did Michael McDermott make his money?

Michael McDermott made his fortune primarily through his successful music career. He is a singer-songwriter and has released several albums. He also earns money through live performances and merchandise sales.

What is Michael McDermott’s most successful album?

Michael McDermott’s most successful album is “Hey La La” which was released in 1995. It featured the hit single “A World Like This” and was certified gold by the RIAA.

What bands has Michael McDermott been a part of?

Michael McDermott was a member of the band The Larks in the early 1990s. He also formed the band The Westies with his wife, Heather Robb, in 2006.

Has Michael McDermott won any awards?

While Michael McDermott has not won any major awards, he has been nominated for several. He was nominated for a Grammy Award for Best Rock Song in 1996 for his song “A World Like This”.

What is Michael McDermott’s most popular song?

Michael McDermott’s most popular song is “A World Like This” from his album “Hey La La”. The song reached number 10 on the Billboard Hot 100 chart in 1995.

Where was Michael McDermott born?

Michael McDermott was born in Chicago, Illinois.

What is Michael McDermott’s age?

Michael McDermott was born on August 28, 1966, making him 55 years old as of 2022.

Is Michael McDermott married?

Yes, Michael McDermott is married to Heather Robb. They have been married since 2001 and have two children together.

What is Michael McDermott’s height?

Michael McDermott is 5 feet 10 inches tall.