Net Worth Ranker
What Is Dean McDermott’s Net Worth?
Dean McDermott, a Canadian-American actor, reality television personality, and producer, has accumulated a net worth of approximately $50,000. This figure reflects his earnings from a diverse career spanning acting, reality television, and culinary endeavors. While McDermott has an extensive list of acting credits, his financial situation has faced public scrutiny, especially during and after his marriage to Tori Spelling.
Dean McDermott’s Career and Earnings
McDermott’s career began in 1988 with roles in film and television, marking the start of his journey in the entertainment industry. He debuted with an appearance in “Graveyard Shift II” and a guest role on “T and T.” His early work included roles in “Straight Line” (1990) and “Stepping Out” (1991), along with appearances in various TV shows and made-for-television movies. In 1995, he played Major Miles Pierce in “Iron Eagle IV” and secured a recurring role on the Canadian series “Due South,” appearing in 18 episodes. These early roles helped establish him in the industry.
In 1998, McDermott played Mark Simpson in all 26 episodes of the CTV series “Power Play,” further solidifying his presence on television. He also appeared in the crime thriller “Bone Daddy” and co-starred in “A Cool, Dry Place.” The early 2000s saw him taking on multiple projects, including the film “Picture Claire” and TV movies like “Brian’s Song.” He also appeared in the series “Tracker” and “Relic Hunter.” In 2003, he starred in “1-800-Missing” and co-starred in the Western “Open Range.” These roles expanded his portfolio, demonstrating his versatility as an actor. These roles, while varied, did not necessarily translate to substantial long-term financial security, as evidenced by later reports of financial difficulties.
McDermott gained significant recognition through his reality TV series with Tori Spelling, including “Tori & Dean: Inn Love”/”Tori & Dean: Home Sweet Hollywood” (2007–2012), “Tori & Dean: sTORIbook Weddings” (2010), “Tori & Dean: Cabin Fever” (2014), and “True Tori” (2014). He also served as an executive producer on most of these shows, providing additional income. In addition to his acting and producing work, McDermott ventured into the culinary world, hosting “Chopped Canada” (2014) and appearing on cooking shows like “Rachael vs. Guy: Celebrity Cook-Off” (2013) and “Top Chef Canada” (2014). He also published “The Gourmet Dad: Easy and Delicious Meals the Whole Family Will Love” in 2015. Despite these diverse endeavors, his financial stability remained precarious.
Despite his numerous acting credits and reality TV ventures, Dean McDermott’s financial situation has been a subject of public scrutiny. His reported net worth of $50,000 is notably modest, particularly given his extensive career. Several factors contribute to this figure, including financial challenges faced during his marriage to Tori Spelling. Public reports indicated significant debt and financial mismanagement.
Financial Challenges and Legal Issues
In October 2013, Tori Spelling publicly announced that she was broke, claiming to have spent all of her earnings and inheritance, estimated at $15–20 million, on failed real estate investments and lavish purchases. She stated that she was borrowing money from her mother to cover expenses and couldn’t afford a medical procedure for McDermott. While McDermott initially downplayed these claims, subsequent events revealed deeper financial troubles.
In March 2017, City National Bank filed a lawsuit against Tori and Dean, alleging they failed to pay $200,000 of a $400,000 loan. The bank also claimed that Tori had overdrawn $17,000 from her checking account. Prior to this, the couple was sued by American Express for $87,000 in credit card debt and faced $260,000 in unpaid taxes. These legal battles highlighted the severity of their financial difficulties and contributed to the depletion of their assets. The accumulation of debt and legal issues significantly impacted Dean McDermott’s net worth, contributing to his current financial standing.
Further complicating his financial situation, Dean’s ex-wife, Mary Jo Eustace, alleged in October 2017 that he had stopped paying child support. She claimed that despite his alleged financial struggles, he had taken luxurious vacations and resided in a $2 million estate paid for by Tori Spelling’s mother, Candy Spelling. Eustace also stated that he owed over $100,000 in child support and was delinquent in covering expenses such as university rent, tuition, and therapist bills for their son. These allegations further tarnished his financial image and raised questions about his ability to meet his financial obligations.
In October 2023, Dean McDermott was reportedly photographed waiting in line at a welfare office in Southern California, underscoring his financial difficulties. Around the same time, reports surfaced that he was living in a rented apartment unit with four roommates, further illustrating his reduced financial circumstances. These events paint a picture of a career marked by both success and significant financial challenges, ultimately resulting in a modest net worth.
Personal Life and Real Estate
Dean McDermott’s personal life has been intertwined with his financial standing. His marriage to Tori Spelling brought both opportunities and challenges, particularly in the realm of real estate. In 2020, Tori and Dean purchased a 5,980 square foot home in the Santa Monica Mountains for $3.7 million. The mansion featured five bedrooms, eight bathrooms, a gourmet kitchen, a playroom, a wet bar, a swimming pool, and a spa with a rock waterfall. This purchase indicated a significant investment in real estate. However, it is unclear if this property remains in his possession or how it factors into his current net worth.
Prior to this, the couple owned a 6,700 square foot Encino estate, which they sold for $2.5 million in 2011. The sale of this property suggests a need to liquidate assets, potentially due to financial pressures. The fluctuations in their real estate holdings reflect the instability in their financial situation over the years. Dean McDermott’s net worth has been heavily influenced by his financial decisions and legal entanglements, resulting in the current estimate of $50,000. The combination of career earnings and financial setbacks has shaped his overall financial profile.
Dean McDermott’s early life began in Toronto, Ontario, Canada, where he was born on November 16, 1966. Growing up with his mother, Doreen, father, David, and sisters, Dawn, Dana, and Dale, his upbringing provided a foundation for his future career. While specific details about his early schooling and childhood residences are not widely available, his Canadian roots played a role in shaping his identity and career path. His journey from a Canadian upbringing to the Hollywood entertainment industry is a testament to his ambition and determination. Specifics about his early financial circumstances are not detailed in the available resources. However, it’s clear that his upbringing and personal life have influenced the trajectory of his professional and financial endeavors.
