Simon Cowell decided not to take a salary after his multimillion-pound entertainment conglomerate Syco saw a fall in income according to recent reports.
According to a report by The Mirror, the music entrepreneur saw Syco Holdings Ltd.’s profits fall from £31.88 million in 2021 to £2.27 million.
In January 2022, some 20 years after Syco’s founding, Simon Cowell sacked “virtually all his personnel” from his entertainment firm and drastically reduced its size.
At the time, a source told Daily Mail, “Simon has come to a point in his life when he doesn’t want the burden of managing a worldwide empire and therefore has made the painful choice to wind down Syco.”
Everyone who has collaborated with him is tremendously appreciative of the experiences and possibilities they have had, and they are aware of his goals. Those quitting will be quickly acquired.