Simon Cowell reveals money fears and ‘hasn’t earned anywhere near what people think’

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Simon Cowell has revealed that he is a lot less well off than people assume, as he rubbished his estimated net worth.

Simon, 65, has been in the public eye for decades after making an appearance as a judge on Pop Idol in 2001, working in the 1980s and 1990s as a record producer, talent agent and consultant in the UK music industry.

The mogul has gone from success to success with the shows The X Factor, Britain’s Got Talent, and American Idol.

He is also credited for signing and launching the careers of: Little Mix, James Arthur, Labrinth, Leona Lewis, Fifth Harmony, Olly Murs, Noah Cyrus, and One Direction.

Despite his extraordinary success, the mogul has opened up about his wealth and revealed that money is still a concern for him.

Speaking on the How To Fail podcast with Elizabeth Day, he said: ‘I always worry about money’.

simon cowell on the red carpet in a v-neck top and orange sunglasses — Simon Cowell has denied his estimated net worth (Picture: Gilbert Flores/Variety via Getty Images)

The mogul has worldwide success (Picture: Britain’s Got Talent)

‘I always worry about money because I think you have to in a way. You think about Covid as an example. No one could have predicted Covid.

‘I remember reading it for the first time on a website, and I don’t read a lot of stuff on social media, but I’d heard about it, so I was curious.

‘Second day, the story got bigger to a point where I actually phoned my partner and I said “I don’t like the look of this, I have a horrible feeling it’s going to be like that movie Contagion, and I think we need to get all of our shows into production around the world quicker this year”. And we did.

‘And when it happened, it was obviously worse than I could have imagined.

‘When you think about that, the wars, and everything else, the instability, what is safe? Is it gold, cash, stocks? I don’t think anything’s safe any longer. I guess your house.

‘Someone did actually say to me once – thank god – “live in your money”. And it was really good advice, i.e, enjoy it, and be happy with it, but understand that the world is precarious.’

Editorial use only. No book publishing Mandatory Credit: Photo by Thames/Syco/Shutterstock (9177288d) Dermot O'Leary, Sharon Osbourne, Simon Cowell, Nicole Scherzinger and Louis Walsh 'The X Factor' TV show, Series 14, Judges - 28 Oct 2017 — The X Factor was a huge hit in the UK (Picture: Thames/Syco/Shutterstock)

Editorial Use Only. No Book Publishing. Mandatory Credit: Photo by Dymond/Thames/Syco/REX/Shutterstock (10488463er) Megan McKenna celebrates victory with Louis Walsh, Simon Cowell and Nicole Scherzinger 'The X Factor: Celebrity' TV show, Series 1, Episode 8, The Final, London, UK - 30 Nov 2019 — The show became a huge franchise (Picture: Dymond/Thames/Syco/REX/Shutterstock)

When told by Elizabeth that his estimated net worth was around £500 million, he denied this figure and said that in reality, he was ‘not even close’ to that figure.

‘Oh God, it’s not that. I’m not even close to that. I’m being serious. I’m not.

‘I’ve made a lot, I’m not going to lie. I’ve made a bit of money, yes, but not that much, no.’

She then asked him pointedly: ‘Do you think you’re rich?’

To this, Simon reflected and said: ‘Probably yes, I’ve definitely got enough, I don’t need anymore. I don’t yearn for what I thought I wanted a few years ago.’

He explained that in his early 40s, he envied those who had yachts and thought maybe that was the extreme wealth that he was after.

He then concluded that he hated the ‘obnoxious and snobby’ crowd and concluded that he learned that money didn’t make any of them happier.

Simon downsized his company SyCo in 2022 to ‘focus on family’, calling it quits on The X Factor and some of his other huge shows.

Simon is still appearing on Britain’s Got Talent, but his hunt for the next big boyband with the upcoming Netflix series, The Midas Touch, which was ultimately scrapped.

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