Simon Cowell - Simon Cowell's Earns 128k A Day

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Simon Cowell is reportedly earning £128,000 a day.

The TV and music mogul's company Simco - which produces reality shows 'The X Factor' and 'America's Got Talent' - made £32.4 million in nine months during 2009, according to new figures.

Simon - who is estimated to be worth a huge £164 million - set up the business in 2002 and sold it to Sony BMG in 2005 for £43m in 2005 on the condition he got a cut of the profits as a salary.

According to the Daily Star newspaper, insiders are calling the profitable nine-month period the "Boyle Factor" because of the huge success of 'Britain's Got Talent' singer Susan Boyle who has since gone on to become a global sensation.

Since the figures were released, Simon has restructured his business and set up a new company called Syco Entertainment Limited which is co-owned by himself and Sony BMG and now owns all of his musical and television assets, including the UK and US versions of 'The X Factor' and the contracts of his superstar artists such as Leona Lewis.

Under the terms of the arrangement Simon earns 50 per cent of everything the company makes, rather than a percentage of the profits, a deal which could see him bank £1 billion over the next six years.

Earlier this year, it was revealed that bosses of the UK 'The X Factor' offered Simon an increase on his £5 million-a-year deal in a bid to keep him on the show.


Contactmusic

Tags: Simon Cowell - BMG - Leona Lewis - Sony - Susan Boyle - The X Factor

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