When was Simon Cowell "nearly bankrupt"? AGT judge opens up about his poor financial decisions

Simon Cowell, AGT judge opens up about financial trouble in the past
Simon Cowell, AGT judge opens up about financial trouble in the past (Image via Instagram/@simoncowell)

AGT is set to return with another season soon and will feature fan favorite and long-time judge Simon Cowell returning to his judging duties. While his current net worth currently stands at $600 million, there was a time when the A&R executive, television producer, entrepreneur, screenwriter, critic, actor, and television personality nearly went bankrupt at the age of 28.

The America's Got Talent judge opened up about his poor financial decisions during a conversation with CNBC. During the appearance, he said that by the time he was 28, he was broke and had to live with his parents.

He added:

"Once I started to make a little bit of money, then I just did everything a young A&R guy would do. I bought a Porshe, bought a house I couldn’t afford."

AGT season 18 is set to air on May 30, 2023, on NBC and will stream episodes on Peacock.


AGT judge Simon Cowell opens up about being nearly bankrupt at 28

The British music mogul Simon Cowell, who is a television producer, entrepreneur, screenwriter, presenter, critic, record producer, businessperson, actor, and television personality from the UK, is known for being the judge of AGT as well as the judge on Pop Idol, American Idol, and The X Factor.

Over the years, he has been credited with discussing some of the most famous names in the music industry, such as Kelly Clarkson, One Direction, and more. However, while he has made quite a lot of money and gained fame, there was a point when the AGT season 18 judge was nearly bankrupt.

In a conversation with CNBC earlier this month, the 63-year-old businessman opened up about making poor financial decisions in his late 20s. While in conversation, he said that when he started making money as an A&R consultant while working with some big names such as the Power Rangers and puppets, Zig and Zag. He stated that he got carried away.

He added:

"What I didn’t learn about was credit cards, once I started to make a little bit of money, then i just did everything a young A&R guy would do."

The AGT celebrity continued by saying that he soon ran out of money after purchasing a Porsche and a house he couldn't afford. His financial conditions were so bad that he had to go back and live with his parents, and it wasn’t until he was in his mid-30s that he started recovering from the losses.

He also said that the experience taught him that he was hurrying and that he wanted everything to happen immediately while speaking with CNBC. He added, "Patience is the key."

The AGT judge’s annual salary, as reported by Celebrity Net Worth, exceeds $50 million and sometimes even approaches $100 million. At his American Idol peak, he used to bring in $33 million per season. He was one of Time Magazine’s "100 Most Influential People in the World" in 2004 and 2010.

AGT season 18 is set to air on May 30, 2023, on NBC and will stream episodes on Peacock.

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Edited by Dev Sharma
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