Simon Cowell earns $264,000 a day - reports

Simon Cowell is reportedly earning £128,000 (NZ$264,000) a day.

The TV and music mogul's company Simco - which produces reality shows The X Factor and America's Got Talent - made £32.4 (NZ$66.8) million in nine months during 2009, according to new figures.

Simon - who is estimated to be worth a huge £164 (NZ$338) million - set up the business in 2002 and sold it to Sony BMG in 2005 for £43m (NZ$88.7m) in 2005 on the condition he got a cut of the profits as a salary.

According to the Daily Star newspaper, insiders are calling the profitable nine-month period the "Boyle Factor" because of the huge success of Britain's Got Talent singer Susan Boyle who has since gone on to become a global sensation.

Since the figures were released, Simon has restructured his business and set up a new company called Syco Entertainment Limited which is co-owned by himself and Sony BMG and now owns all of his musical and television assets, including the UK and US versions of The X Factor and the contracts of his superstar artists such as Leona Lewis.

Under the terms of the arrangement Simon earns 50 per cent of everything the company makes, rather than a percentage of the profits, a deal which could see him bank £1 (NZ$2.06) billion over the next six years.

Earlier this year, it was revealed that bosses of the UK The X Factor offered Simon an increase on his £5 (NZ$10.3) million-a-year deal in a bid to keep him on the show.

"I put my toe in that water, and it was a Kegel-exercise vaginal reaction where I clenched and had to retract immediately. I ran furiously back to New York, to my old apartment, and I hung out with my friends, and I went to the same bars."

- BANG! Showbiz