Dr. Oz’s Net Worth and How He Made His Money
Written by
Chris Adam
Edited by
Rebekah Evans
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Dr. Mehmet Oz, one of television’s best-known — and wealthiest — doctors, has been selected for a key role in President-elect Donald Trump’s administration. Trump named Dr. Oz to serve as the administrator for the Centers for Medicare and Medicaid Services. The selection is among a few controversial ones by the President-elect as he works to build his administration and pursue some of the goals he talked about during the campaign.
Oz, who gained fame thanks to Oprah Winfrey and later his own show, has gained fame and fortune through his show, books and other means. Here’s a look at Oz’s net worth and how he made his money.
Also here are other changes that Trump’s administration may bring.
Net Worth
According to the Associated Press, “Oz is an author of New York Times bestsellers, an Emmy-winning TV show host, radio talk show host, presidential appointee, founder of a national nonprofit to educate teens about healthy habits and self-styled ambassador for wellness.”
Oz had a net worth between $100 million and $315 million, according to a federal financial disclosure from 2022.
Background
Mehmet Cengiz Oz was born to Turkish parents Suna and Mustafa in Cleveland, Ohio in 1960. He graduated from Harvard in 1982 with a degree in biology and healthcare runs in the family. Oz said he got his love of medicine from his father who was also a physician. Oz received an MBA from the University of Pennsylvania’s Wharton School and earned his MD from Penn in 1986.
Oz has had an extensive health and medicine career. In 1994, he launched the Cardiovascular Institute and Integrative Medicine Program at New York-Presbyterian. He and his colleagues at Columbia University patented the MitraClip device in 1997. He and WebMD founder Jeff Arnold created Sharecare Inc., a health and wellness company. In 2001, he was made a professor at Columbia University and has also served as vice chairman of Columbia’s College of Physicians and Surgeons. It was soon after this that TV opportunities came his way.
Critics and Supporters
As he’s gained fame, Oz has faced criticism for what he shares with audiences. “In 2020, he came under scrutiny for promoting the anti-malaria drug hydroxychloroquine to treat COVID-19,” as reported by NBC News. “In 2014, the British Medical Journal called his medical advice into question in a study that examined recommendations he made in 40 randomly selected episodes of his show in 2013. Researchers found case studies or other evidence that supported only 46% of 80 recommendations.”
Some supporters of Trump’s decisions have said it will be helpful to have a physician such as Oz leading the agency and helping to advocate for patients. The government position Oz seeks requires Senate confirmation.
Potential Impact on Patients
However you feel about Oz, the agency he may lead under Trump could impact some of your healthcare and how much you pay for it each year. The Centers for Medicare and Medicaid Services provides government-based health insurance to millions of people through Medicare, Medicaid and the Children’s Health Insurance Program. For the first time, the agency is negotiating drug prices for some of the costliest medicines under Medicare.
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