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Tyler Perry officially named a billionaire by Forbes
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Tyler Perry has officially reached billionaire status.
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The entertainment mogul was named a billionaire by Forbes, which keeps a running tally of all the world’s richest people. The outlet estimates that thanks to his various self-owned entertainment projects, Perry has earned more than $1.4 billion in pretax income since 2005.
According to the outlet, Perry’s financial success comes from incredibly hard work, having previously been a homeless, struggling playwright. After years of tirelessly perfecting his plays and gaining an audience, he made his way to TV and managed to crank out an impressive number of shows that eventually led to a lucrative movie career thanks in large part to his now-retired character, Madea. Because he was able to retain ownership of all his creative endeavors, the payouts were massive.
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“I own the lights. I own the sets,” he told Forbes. “So that’s where the difference is. Because I own everything, my returns are higher.”
He currently owns Tyler Perry Studios, a 330-acre lot in Atlanta valued at $280 million, according to People, where he films his various TV and movie properties. Between the sheer volume of his content and the fact that he makes it in-house for profit, Forbes reports that he’s been able to obtain a stake in BET+, $300 million in cash and investments, $40 million in homes and various locations around the country and a massive $320 library of his own content.