Simon Cowell refrained from taking salary after his multimillion-pound entertainment empire Syco suffered loss in profits, as per recent reports.
The music mogul saw profits of Syco Holdings Ltd drop from £31.88 million in 2021 to £2.27 million, according to a report published by The Mirror.
This comes after Cowell fired “almost all his staff” at his entertainment company and significantly downsized Syco in January 2022 almost 20 years after its foundation.
“Simon has reached a time in his life when he doesn't want the stress of running a global empire and so has made the difficult decision to wind down Syco,” a source spilt to Daily Mail at the time.
“Everyone who has worked with him is just incredibly grateful for those opportunities and experiences and they understand the direction he wants to take things. Those that are leaving will be snapped up fast.”
Princess Eugenie sends fans wild as she shares family photos
Catching Fire: The Story of Anita Pallenberg made a shocking revelation about Anita Pallenberg's secret affair
Princess of Wales undergoes treatment for cancer
Prince Harry has reached out to King Charles with an olive branch request to meet up when he visits the UK
Prince William loses his crown of Britain's most popular royal to some one he loves the most
Prince Harry has reportedly asked Prince William to grace his event