The 65-year-old music mogul’s earnings are said to be due to the global success of his television empire. Simon earns almost a million pounds a week, according to accounts filed by Syco Holdings.
This company is responsible for managing its successful show ‘Britain’s Got Talent’, and figures obtained for the first time by the Daily Mirror, which were sent to Companies House, showed a pre-tax profit of 21.9 million pounds on a turnover of 32.6 million pounds in the business, in the year to March.
Half of the cash was said to have come from the US, while £7.1m came from the UK and £8.9m from other parts of the world.
Former ‘X Factor’ judge Simon reportedly paid himself £50 million from the venture.
Simon is also said to have made a deal for an investment bank to buy bonds backed by his television franchises.
His wealth comes despite Simon making the decision to reduce his work in recent years to spend more time with his partner Lauren Siverman, 46, and their 10-year-old son Eric.
He now sticks to a four-day week because he believes working on a Friday is ‘useless’.
Former workaholic Simon, who also changed his sleeping and eating patterns, told The Sun about his lifestyle change:
‘Actually, the first thing I do is take Fridays off. Don’t work on Fridays, because it’s not necessary. Dinner at five o’clock. Do not answer calls after 5:30 p.m. Don’t read emails after 5:30 pm Watch a happy movie. And stay outside. I’m not kidding about Fridays. I don’t think anyone should work five days a week. It just doesn’t make sense.’