Famous failures worth a fortune Simon Cowell: £300 million The international entertainment mogul has plenty to celebrate (especially given the phenomenal success of pop group One Direction, who are signed to his label) but things werent always easy. Having dropped out of college, Simons career in the music industry was humble - he began working in the mail room at EMI before rising up to become a talent scout for the company. The first record label he started - Fanfare Records - closed down after just four years. Suddenly broke, Cowell was forced to move back in with his family. Speaking in an interview with Oprah Winfrey, he said: I made some absolutely horrific mistakes. I believed my own ego, believed my own hype, believed my own abilities, and lots of times it came crashing down. I thought I was absolutely untouchable. But it was all borrowed. It was all nothing. And sure enough, the whole lot came crashing down. At the age of 30, I went to live with my mom and dad and had to sell the house, the Porsche - everything. I had literally nothing other than about a half-million-dollar loan I had to repay. The failure served as a wake-up call. Once everything was gone, there was nothing I missed, and all the pressure went away. Then it kind of became reality, which was, Ive literally got to start again with nothing. In a weird way, it was one of the happiest times of my life.
Posted on: Fri, 25 Oct 2013 16:42:47 +0000
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