Simon Cowell refrained from taking his salary after Syco’s profit slump
Simon Cowell hasn’t taken a dime from his entertainment company Syco after a loss in profit, according to recent reports.
The music mogul saw profits at Syco Holdings Ltd fall from £31.88m in 2021 to £2.27m, according to a report by The Mirror.
It comes after Cowell laid off ‘almost all of his staff’ at his multi-million pound entertainment empire and cut Syco dramatically in January 2022, almost 20 years after it was founded.
“Simon has come to a time in his life where he doesn’t want the stress of running a global empire and has therefore made the difficult decision to end Syco,” a source told Daily Mail at the time.
“Everyone who has worked with him is incredibly grateful for these opportunities and experiences and they understand the direction he wants to go. Those who leave will be picked up quickly.