As an actor, writer, producer, and director, Perry has found success in large part because he is the sole proprietor of all of the creative output that bears his name, according to Forbes.
Why is Tyler Perry worth so much?
According to Forbes, Tyler Perry is now the newest billionaire in Hollywood.
The seasoned director, along with Oprah Winfrey, Steven Spielberg, and George Lucas, is listed as one of the highest-paid people by the financial publication that counts celebrities’ net worths.
According to Forbes, Perry, 51, has a net worth of $1 billion after earning more than $1.4 billion in pretax income since 2005. Not bad for a man who formerly lived on the streets.
How did Tyler Perry make his money?
In 11 years, 14 Madea movies were released, making over $670 million at the box office and earning Perry, according to Forbes, over $290 million in royalties and profits.
Perry now has a 330-acre studio outside of Atlanta where he works on his artistic endeavors.
Other production firms also use the sizable lot, which is more than twice the size of the illustrious Warner Bros. backlot in Burbank, California; this generates enormous profits for Perry.
Perry used the site’s $280 million value as leverage in a significant contract with ViacomCBS, which pays him $150 million annually for new content and grants him an ownership part in streaming service BET+.
