Media mogul Tyler Perry is a newly minted billionaire, according to the latest calculations from Forbes. Perry, 50, who states he was once ‘poor as hell’ and homeless, dropped out of high school and struggled as a playwright before his career catapulted him to stardom, becoming the first African American to independently own a studio.
He credits much of his wealth to the importance of ownership and Perry has invested in several properties, as well his 330-acre studio location. ‘Ownership changes everything,’ he said an interview with Forbes. Among his investments is the $280million Tyler Perry Studio in Atlanta, Georgia.
The publication estimates that Perry has earned ‘more than $1.4 billion in pretax income since 2005′, as it placed him in the billionaires’ club and predicted that he could be added to The Forbes 400 in the future. He has used some of this wealth to buy homes in Atlanta, New York, Los Angeles and Jackson Hole, Wyoming, as well as two planes.
Among his investments was the establishment of Tyler Perry Studios in Atlanta, now the most prolific production location for black audiences. The company was first started in 2006 before settling in its current location five years ago.
Stay informed and ahead of the curve! Follow Africa Update Newspaper on WhatsApp for real-time updates, breaking news, and exclusive content. Don't miss a headline – join now!