Tyler Perry is a household name in Hollywood and his success tells the story of rags to riches. Although he reportedly grew up in an abusive family, he did not allow that to become an impediment to his path to success. At a point, Perry had to make a home in his car.
In 2020, Forbes officially recognized him as a billionaire after he reached a net worth of $1 billion. According to Forbes, the 53-year-old has earned a pretax income of over $1.5 billion since 2005 and joins the likes of fellow billionaire industry players including Oprah Winfrey, George Lucas, Steven Spielberg and John de Mol.
The bulk of his earnings comes from his 133.5 (330 acres) Atlanta film studio, Madea franchise and his stake in the BET+ streaming service, according to Forbes. Perry’s journey to success was not without challenges. In a recent discussion with guests at the 2022 Earn Your Leisure Conference, the entrepreneur and popular filmmaker shared with his audience his challenges as a businessman, including dismissing his entire accounting staff for a costly error.
Perry understood how important it was to make sure taxes had to adhere to a specific standard, despite the fact that he agrees that taxes are a grey area. “In business, it’s ok to make mistakes, but do learn. Don’t let it keep happening over and over again,” Perry noted, according to the dailycaller, before opening up about his accounting problem.
According to him, he commissioned an audit into his business which went on for three years, costing him hundreds of thousands of dollars. After the audit, he said, “we get to the end of the audit, and the IRS owed me $9 million — they owed me $9 million!”
He further noted that he was shocked that his accounts didn’t initially recognize the severity of the issue, adding that he had no choice but to fire them. “And all my accountants come running and say ‘Isn’t that great? Isn’t that great?’ And I say, ‘Hell no! How did you miss me paying $9 million?’”
“Everybody gone! I had to stop going to H&R block for my taxes at some point,” he joked.
Pacers star Tyrese Haliburton has said that his little brother was subjected to racial abuse,…
Reggie Bush has regained his place as the 2005 Heisman Trophy winner after over a…
Since 2012, actor Nick Cannon has openly shared his struggle with lupus to support others…
Former USC superstar Caleb Williams has been drafted by the Chicago Bears as the No.…
Stephen A. Smith is an ESPN analyst. People widely regard him as the face of…
Lil Durk is an American rapper and one of the most influential voices in the…
In 2022, Kevin Hart added a new title to his impressive resume: a tequila entrepreneur.…
AEW's latest pay-per-view, Dynasty 2024 on Sunday night saw Swerve Strickland defeat Samoa Joe to…
Renowned civil rights activist Opal Lee, known as the "Grandmother of Juneteenth," will be awarded…
Violet Horne lost her two sons to gun violence within the space of a month.…
An Ohio man said a K-9 bit him seven times after he was pulled over…
Three male foreign tourists who were spotted posing naked in a popular dune in Namibia…
Will.i.am is partnering with other prominent figures to revolutionize the digital media scene by forming…
Sabelle Beraki's childhood was inundated with the lack of representation when it came to a…
Benjamin Harvey is the founder of AI Squared, a third-party software company that helps organizations…