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Simon Cowell

Many millionaires go broke once or twice before cementing their fortunes, and Cowell is one of them. He was 30 when his 1980s music business bubble burst and he moved back home with his parents. It was a temporary knock-back as the success he went on to achieve in television means he is now worth the £100m valuation he has always said he wanted. It has happened largely because of the success of The X Factor television talent show, which ended its third series last December. Cowell, 47, immediately signed a three-year £20m deal to appear on future shows. He then whipped up a frenzy of excitement in the tabloids by sacking two of the show’s team, judge Louis Walsh and host Kate Thornton, who will be replaced by singer Dannii Minogue and Dermot O’Leary respectively. Across the pond, Cowell is the star of American Idol, a similar talent show now in its sixth season, which pays him £13m per series. He is soon to be seen meeting African children as part of a special edition of the show to raise awareness of relief projects for young people in Africa and America. Evidently the public on both sides of the Atlantic can’t get enough of Mr Nasty’s merciless approach to contestants. But he has chosen not to appear in his latest UK project, Grease is the Word, a search for all-singing, all-dancing talent to front a West End production of Grease. Cowell’s career began sorting post at EMI. He later set up his own label, Fanfare Records, but it went bankrupt in 1989, at which point he sought solace from mum and dad. He then joined BMG as an A&R consultant. His resolutely populist approach is responsible for hits by actors Robson & Jerome, as well as by Curiosity Killed the Cat, Sonia and Westlife. In 2005 Cowell concluded a five-year deal with Sony BMG for his music and television production interests. Sony BMG also paid £43m to acquire Cowell’s 50% stake in Simco, another joint venture between the two. He also owns the music rights to the winners of both American Idol and The X Factor. Cowell says he turns down millions of pounds in advertising deals. He can afford to be picky, as we reckon he is easily worth £100m.