Sept. 2 (UPI) -- Tyler Perry has become the newest billionaire in the entertainment industry, according to a new report from Forbes.
Forbes published a cover story on Perry and his Hollywood empire on Monday which gives an inside look into the actor and filmmaker's various business ventures.
The publication estimates that Perry has earned $1.4 billion in pretax income since 2005, with his estimated net worth at $1 billion.
Perry, 51, owns everything he has released, including 1,200 episodes of television, 22 feature films and multiple stage plays. He has a production deal with ViacomCBS and has an equity stake in streaming service BET+.
Perry, who first started his career touring small theaters around the country to perform plays that he wrote, produced and starred in, received the 2,675th star on the Hollywood Walk of Fame in October.
"I love when people say you come from humble beginnings. It means you were poor as hell," Perry told Forbes.
"Ownership changes everything," he continued.
Perry is set to receive the Governors Award at the 72nd annual Emmy Awards on Sept. 20.