The father-of-one took a position as a judge on the reality series in both the UK and America.
The winners were signed to Simon’s record label, S Records, which is sure to have seen him add to his fortune.
Developing a knack for TV, the star formed his company Syco, which focused on music, TV and film.
In 2004, The X Factor was created by the company and Simon once again sat on the judging panel.
The TV show became an instant hit and winners were signed to Simon’s label.