Simon Cowell did not pay himself a salary after profits slump in Syco

13.01.2023 - 23:03 / dailyrecord.co.uk

Simon Cowell did not pay himself a salary last year due to a fall in profits in his company Syco, according to reports.

The music mogul, who created both the X Factor and Britain's Got Talent, saw profits of Syco Holdings Ltd drop from £31.88 million in 2021 to £2.27 million and it came at a cost as 19 members of staff lost their jobs.

Despite Simon, 63, seeing a decline in profit, the value of Syco increased by £4m to £83.16m. In 2021, a dividend of £45.35m was paid out of the accounts proving that he could afford to go through the year without a salary., reports the Mirror.

The father-of-one, who is due to marry his long-term partner fiancée Lauren Silverman, downsized Syco after revealing the stress of running his multimillion pound empire was a factor in his ill health.

Simon still has a decision to make on one of his prized shows, however, after David Walliams sensationally quit Britain's Got Talent.

Walliams' departure came he made a series of derogatory comments about BGT hopefuls in a leaked audio.

The recordings, unearthed in November, caught the BGT judge calling an elderly performer on the talent show the C-word three times. According to a transcript leaked to the Guardian, the children's author also said of a female contestant: "She’s like the slightly boring girl you meet in the pub that thinks you want to f*** them but you don’t."

Chatty Man comedian Alan Carr and former Strictly Come Dancing star Bruno Toniolo have been linked with replacing Walliams.

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