From grass to grace, Tyler Perry officially joins the billionaires list in Hollywood.
According to Forbes, the actor and entrepreneur is now worth a billion dollars. The publication arrived at the conclusion by breaking down Perry’s assets, including $300 million in cash and investments, a content library worth $320 million, his Atlanta studio and multiple personal properties.
The outlet estimates Perry’s net worth at $1 billion and says he’s earned more than $1.4 billion in pretax income since 2005.
During an interview with Forbes, Tyler Perry said he learned the value of ownership at a young age.
“My father was a subcontractor, and he would get paid on Fridays and be so happy that he had made $800,” he told Forbes. “But I would watch the man that owned the house sell it and make $80,000. So I always knew that there was more power in the man that owned the house rather than the man that actually was working on it and building it. So I always wanted to be the guy that owned the house.”
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According to the magazine, Perry’s films alone have grossed nearly $1 billion to date, and he owns the rights to all of them.
“Ownership for me was easy because I was underestimated,” Perry said. “They said, ‘Sure, you can own it.’ They didn’t think it’d be worth anything.”
He also opened up about the lack of diversity he’s seen on film sets throughout his career and how he wants to be a force to change that.
“I wanted to foster an environment where minorities and women and LGBTQ, anybody who wanted to come and work and do a great job was welcome,” he said. “What I found is, if you invest in the underdog, if you invest in the people who haven’t had the opportunity, the level of gratitude and understanding for what is happening for them is so powerful. It’s just wonderful.”
The mogul joins a group of Black billionaires that includes Robert F. Smith, Michael Jordan, Oprah Winfrey, David Stewart, Jay-Z and Kanye West.