Tyler Perry, a US actor-producer, famed for ‘Acrimony’, his 2018 psychological thriller, alongside commentaries about his portrayal of women, has now hit billionaire status.
According to Forbes, Perry’s net worth boomed over the years due to his creative outputs, making him a new member of the billionaire squad, even as he had admitted rising from being “poor as hell.”
The prominent business magazine said the 51-year-old entertainer owns the entirety of his creative output, including over 1,200 TV episodes, 22 feature films, at least 24 stage plays, and a 330-acre studio lot in southern Atlanta.
He is said to have used this to work out a deal with ViacomCBS that pays $150 million a year for new content and gives him an equity stake in BET+, the streaming service it debuted last September.
It was estimated that Perry earned more than $1.4 billion in pretax income since 2005, which he used to buy homes in Atlanta, New York, Los Angeles, and Jackson Hole, Wyoming, as well as two planes.
“I love when people say you come from ‘humble beginnings. It means you were as poor as hell. It also makes success sweeter,” the film executive said.
“Ownership changes everything. You got to understand, I had no mentors. My father doesn’t know anything about business. My uncles and mother, they know nothing about this.
“I didn’t go to business school. Everything I’ve learned, I’ve learned in progress… The ignorance I had about Hollywood was so wonderful, looking back on it.”
Forbes reported that Perry now has $320 million for his library of movies, TV shows, plays, as he owns all of the content he created while being worth $300 million in both cash and investments.
He also has $280 million for Tyler Perry Studios, which sits on 330 acres in Georgia; $60 million for his stake in the BET+; and $40 million in homes and toys, all of which amount to $1 billion.