How Hollywood mogul Tyler Perry makes and spends his $1.4 billion fortune

Tyler Perry, the billionaire mogul behind the Madea franchise and Tyler Perry Studios, has amassed a net worth of $1.4 billion through his various entertainment ventures. Born Emmitt Perry, Jr. in 1969 and raised in New Orleans, Perry joined the ranks of billionaires in 2020, surpassing figures like Oprah Winfrey, George Lucas, and Steven Spielberg. His primary income sources include his film and TV library, investments, a content deal with BET, and Tyler Perry Studios in Atlanta.

Perry's Madea franchise, which includes over 13 core movies and numerous TV appearances, has grossed over $660 million. The franchise began when his first play, "I Know I've Been Changed," opened in 1992 with a mostly empty theater. His breakthrough came in 2005 with the release of "Diary of a Mad Black Woman," which earned $22.7 million in its opening weekend. Perry's Madea movies have collectively brought in over $1 billion in ticket sales.

Beyond the Madea franchise, Perry's film collection has generated over $1 billion in box-office earnings. Many of his movies were initially distributed by Lionsgate, but he later established Tyler Perry Studios, a $280 million production facility in Atlanta. The studio has hosted notable projects such as the Marvel hit "Black Panther." Perry also created TV shows like "The Have and Have Nots" and "If Loving You Is Wrong," which aired on OWN and BET, further diversifying his income streams.