Simon Cowell
has revealed that he is a lot less well off than people assume, as he rubbished his estimated net worth.
Simon, 65, has been in the public eye for decades after making an appearance as a judge on Pop Idol in 2001, working in the 1980s and 1990s as a record producer, talent agent and consultant in the UK music industry.
The mogul has gone from success to success with the shows
The X Factor
,
Britain’s Got Talent
, and American Idol.
He is also credited for signing and launching the careers of: Little Mix, James Arthur, Labrinth, Leona Lewis, Fifth Harmony,
Olly Murs
, Noah Cyrus, and One Direction.
Despite his extraordinary success, the mogul has opened up about his wealth and revealed that money is still a concern for him.
Speaking on the
How To Fail
podcast
with Elizabeth Day, he said: ‘I always worry about money’.
‘I always worry about money because I think you have to in a way. You think about
Covid
For instance, nobody could have foreseen the advent of COVID-19.
‘I recall coming across it for the first time on a website, as I generally don’t consume much content on social platforms. However, I had heard buzz around it, which piqued my interest.’
On the second day, the situation escalated to such an extent that I called my colleague and remarked, “This doesn’t seem right; I have a bad hunch it might turn out just as grim as the film Contagion. We should expedite getting all our programs into production across various regions worldwide.” That’s exactly what we proceeded to do.
And when it occurred, it turned out to be far worse than I had ever anticipated.
‘Considering all of this, including the wars and every other aspect, along with the overall instability, what can be considered secure? Gold, currency, or stocks perhaps? I doubt anything feels truly safe nowadays. Maybe your home.’
‘Once someone said to me thankfully, “thrive within your means.” It was truly sound guidance: savor what you have and find joy in it, yet recognize that life can be unpredictable.’
When Elizabeth informed him that his approximate net worth was about £500 million, he refuted that number and stated that in truth, he was ‘nowhere near’ that amount.
Oh goodness, it’s not that at all. I’m nowhere near there. I mean this seriously; I really am not.
‘I’ve made a lot, I’m not going to lie. I’ve made a bit of money, yes, but not that much, no.’
She subsequently inquired with directness, “Do you consider yourself wealthy?”
Simon pondered and responded, “Most likely, I have more than sufficient; additional amounts are unnecessary. What I once craved a few years back no longer appeals to me.”
He mentioned that during his early 40s, he felt envious of people with yachts and believed that might be the ultimate form of riches he aspired to achieve.
He ultimately decided that he despised the ‘overbearing and arrogant’ group of people and realized that their wealth did not bring any of them greater happiness.
Simon downsized his company
In 2022, SyCo aims to ‘center on families’
, deciding to stop working on The X Factor and some of his other major programs.
Simon is still appearing on Britain’s Got Talent, but his hunt for the next big boyband with the upcoming Netflix series, The Midas Touch, which was ultimately scrapped.
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