Simon Cowell is earning £128,000 a day from his music and television assets including reality show 'The X Factor', according to reports.
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.
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.