Tyler Perry now a billionaire -Forbes
NEWSMAN – 50-year-old media mogul, Tyler Perry who was once homeless, has been officially added to the Forbes list of billionaires
The Hollywood actor, filmmaker, and playwright who was raised in poverty in New Orleans, dropped out of high school and went through a period of homelessness as he struggled as a playwright.
Those plays turned him into a star and launched a career that would eventually lead him to become a media mogul and first African American to independently own a studio.
Perry’s latest paycheck comes from BET, which will spend $150 million a year until 2025 on the multi-hyphenate to produce at least 90 TV episodes a year, New York Post reported.
He earned $1.4 billion in pre-tax income since 2005, the money outlet reports. They estimate his net worth is $1 billion, “with a clear path to future membership in The Forbes 400.”
“I love when people say you come from ‘humble beginnings.’ It means you were poor as hell,” Perry said.
According to Forbes, Perry said he has made it a point to own everything he makes throughout his career. The newly announced billionaire owns the entirety of his creative output, which includes more than 1,200 television episodes, 22 films, at least two dozen plays and a 330-acre studio lot in Atlanta.
“Ownership changes everything,” he told Forbes of his studio. “I own the lights. I own the sets. So that’s where the difference is. Because I own everything, my returns are higher.”
Perry said he learned the value of ownership at a young age. “My father was a subcontractor, and he would get paid on Fridays and be so happy that he had made $800,” he recalled to Forbes.
“But I would watch the man that owned the house sell it and make $80,000. So I always knew that there was more power in the man that owned the house rather than the man that actually was working on it and building it. So I always wanted to be the guy that owned the house,” Perry said.