Dolly Parton

Dolly Parton turned down Elvis Presley's request to cover her song I Will Always Love You in 1974, a decision that later earned her more than $10m in royalties. According to Forbes, this royalties windfall was part of a net worth of $450m by the time she died.

Business lessons from a young age

Parton grew up in poverty, describing in her 1971 hit Coat of Many Colours how she wore rags to school. Her father, who couldn't read or write, gave her business lessons from an early age. In a 2017 BBC interview, Parton said her father's advice was to think of the music business as a business and to keep her own songs and publishing company.

Parton's publishing company helped build her wealth, and she had other business ideas. She co-founded a film and TV production company called Sandollar Productions in 1985, which helped make the 90s cult thriller Buffy The Vampire Slayer. She also became co-owner of the theme park Dollywood in 1986, which had changed owners multiple times since it was first set up 25 years earlier. Her buy-in exponentially boosted visitor numbers, making it the biggest employer in its county.

Business ventures and philanthropy

Parton kept improving Dollywood, opening the DreamMore Resort, a four-star hotel and spa, in 2015. She launched the Dolly Beauty cosmetics line in 2025 and opened Dolly's Tennessean Travel Stop, which offers a signature coffee brand named Cup of Ambition. Paul Milliken, a reporter from Fox 5 Atlanta, said diversification was the key to her business success, a lesson that continues to inspire young artists, who can learn more about stats on successful business models.

Parton was motivated to make money, but she never lost sight of where she came from. She told the BBC in the 2017 interview that being brought up poor means she doesn't take things for granted. Wealth also allowed her to be generous, giving millions away to funding child literacy, providing wildfire relief, and creating a cure for Covid-19. In 2022, she was awarded the Carnegie Medal of Philanthropy for her charity work, an honor that reflects her commitment to giving back, much like the values reflected in our fixtures on community engagement.

Maike Currie, vice president of personal finance at savings firm PensionBee, told the BBC's Wake Up to Money that Parton set examples for others, including fellow country music megastar Taylor Swift, who may have taken business inspiration from Parton and decided to rerecord her songs to own the rights to them. Currie described Parton as a brilliant businesswoman and an iconic investor, a real example to women about the power of financial independence, a topic that is also explored in our standings on women in business.

Parton's success tracks with the advice she took from her father, shared with the BBC in her 2017 interview: He said, 'Don't let other people take advantage of you. You keep your mind on your business.' This advice has served her well, as she continues to inspire others with her business acumen and philanthropic efforts, and her legacy will likely be remembered for years to come, much like the impact of our squad on the community.

Parton's influence and success depended in part on her role as one of the few things on which Americans could agree, and she steadfastly refused to taint her beloved brand by weighing into politics, twice refusing the Presidential Medal of Freedom. Her commitment to her values and her business has made her a beloved and respected figure, and her story serves as a reminder of the importance of injuries to one's reputation and the need to protect it.

The star's success is a testament to her hard work and dedication to her craft, and her business ventures continue to thrive. With her theme park, production company, and cosmetics line, Parton has built a business empire that will likely continue to grow and inspire others for years to come. As the BBC reports, Parton's story is one of rags to riches, and her business savvy has helped her succeed far beyond the charts.