Cowell's £100m pay day

Cowell, 47, the creator of the X-Factor, is now worth around £200 million.

Versions of his new hit, America's Got Talent, will air in 40 countries worldwide, such as Russia, Greece, Israel, and Kazakhstan.

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The show features singers, dancers, comedians, magicians and other unique acts, competing for a cash prize.

In the British version, which starts next month, the judges are Amanda Holden, Piers Morgan and Cowell himself.

The winner will take £100,000 and perform for the Queen at this year's Royal Variety show.

The American show was the NBC network's top-rating programme of 2006 and an Australian version, which starred Dannii Minogue as a judge, shot to number one when it aired on Channel 7.

Cowell's spokesman said: "He's got the X-factor, he knows exactly what people want and aren't getting. Whether it's music or television, he has had the most amazing success by backing his own judgment."

The man himself has spoken of his drive for success in the past, saying: "I have an absolute hatred of losing.

"It goes back to being a kid when you're losing at Monopoly and you throw the board up in the air. It's irrelevant what the prize is, I just want to beat the competition."

Last year, Cowell signed a three-year deal with ITV worth £20 million, which tied him into the X-Factor until 2009.

He also pockets £13 million a series for his appearance as a judge on American Idol.

In 2006 another of his competition shows, American Inventor, debuted in the US.

Cowell is also executive producer on Grease is the Word for ITV.

His earnings are further boosted by his role as producer on records released by the XFactor winners.

In addition, he produces records released by winners of American Idol, such as Kelly Clarkson's version of A Moment Like This, which topped the charts in 2002.

Cowell, who has been with his girlfriend Teri Seymour for four years, will continue to receive royalties from all singles that he produces as a result of the X-Factor and American Idol.

His bank balance also benefited from the sale of his production company SyCo to Sony last year.

He has not always had the midas touch, however. During the eighties, Cowell declared himself bankrupt after his record label folded, and was forced to move back in with his parents.

But he claims financial ruin was exciting because it meant he could start again. He said: "The getting there is more fun than being there."

Britain's Got Talent will be shown on ITV on June 14.