Simon Cowell’s Massive Child Support Payments Revealed

August 5, 2013 By:
Simon Cowell’s Massive Child Support Payments Revealed

Let’s just say Simon Cowell is well-prepared to be a father—in the financial sense.

The former "American Idol," now "X Factor" judge/ringmaster has a net worth of $330 million, a large portion of which will be diverted into child support payments: $97 million.

It was revealed last week that the music mogul had an affair with the estranged wife, Lauren Silverman, of his close friend Andrew Silverman, and that she’s also pregnant.

It’s a messy situation, so after seeking legal and financial advice on how to smooth it all out, Simon’s pledged to give $3 million a year to Lauren until the child turns 21, the Daily Star reported.

 

“Simon wanted to know exactly where he stands and to minimize the damage this will do to his bank balance,” a source told the overseas publication. “Simon wanted to know exactly where he stands and to minimise the damage this will do to his bank balance.

"He has a good relationship with Lauren at the moment but when you're as wealthy as Simon, you can't take any chances. Money changes people,” the source added. "He's more than prepared to be fair and generous but he's no mug."

Andrew and Lauren are currently undergoing a divorce. They have a seven-year-old together. In the divorce papers filed by Andrew, he listed Simon as a reason for why he’d like to diffuse the marriage.