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How did Harry and Meghan’s BFF Tyler Perry make his billions? The godfather to Lilibet Diana lent his US$18 million LA mansion to the royal couple … but the Madea actor started out in small theatres

South China Morning Post 19/12/2022 Lynn Farah

Perry was on Netflix's explosive docuseries Harry & Meghan, where he revealed that he's Lilibet Diana Mountbatten-Windsor's godfather and opened up about loaning the Sussexes his home
He started his career touring with small theatres, then signed a deal with Oprah Winfrey's network OWN, and has loaned studio spaces to Walt Disney's Black Panther and The Walking Dead

Tyler Perry has become one of the most talked-about celebrities after he appeared on the Netflix docuseries Harry & Meghan, speaking about how he loaned the couple his US$18 million Los Angeles mansion back in 2020.

Tyler Perry lent Prince Harry and Meghan Markle his US$18 million mansion back in 2020. Photo: Netflix

This was after Prince Harry and Meghan Markle stepped back from the royal family that year. At the time, Harry and Meghan had not even met Perry.

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Not only did Perry loan them his house - he also provided security and put up extra safety measures after the paparazzi found out their location.

An aerial shot of Tyler Perry's Beverly Hills mansion. Photo: Google Earth

A generous man indeed! It seems the Duke and Duchess of Sussex have since expressed their gratitude, with Perry confirming on the Netflix show that he is godfather to their one-year-old daughter, Lilibet Diana Mountbatten-Windsor.

But while it's considered typical to own a multimillion-dollar mansion as a celeb in Tinseltown, Perry isn't "just" a millionaire - he's a billionaire, per Forbes.

Here's everything to know about the Hollywood big-name and how he stacked up such a fortune.

Tyler Perry is a writer

Tyler Perry attends his studio's grand opening gala at Tyler Perry Studios in October 2019, in Atlanta. Photo: TNS

According to Forbes, when Perry was in his 20s, he spent his time touring small theatres performing the plays he wrote, produced and starred in. He told the publication that he had no mentors and learned everything as he went along.

After saving up US$12,000, he rented a community theatre in Atlanta and wrote I Know I've Been Changed, a story about child-abuse survivors. It was an instant hit, and he became particularly popular with black Americans, especially church communities.

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The Oprah Winfrey hook-up

Tyler Perry was invited by Oprah Winfrey to star on her show. Photo: @tylerperry/Instagram

In 2001, American producer Oprah Winfrey invited Perry onto her show. She offered him the advice of always being in control and became his sounding board throughout his career, according to Forbes.

Before his first film or TV show, Perry brought in an estimated US$100 million from theatre tickets sales, states the source. Forbes added that he made US$20 million in merchandise and made around US$30 million from selling videos of the performances.

Tyler Perry and Oprah Winfrey have known each other for over 20 years. Photo: @tylerperry/Instagram

HITC reports that, in 2012, he signed a deal with Winfrey and her network (OWN) for the start of The Haves and the Have Nots that ran for eight years.

Hollywood beckons

Tyler Perry as Madea. Photo: @tylerperry/Instagram

As his stage characters grew in popularity, including the likes of Madea, it was time to approach Hollywood. But Perry, who's now 53, told Forbes that there was a long period where he had hardly any success with Hollywood.

Tyler Perry with Cate Blanchett in Don't Look Up. Photo: Netflix

In 2006, he had 10 episodes of House of Payne ready to air. The ratings were high, and he was lured by another network for a hefty US$200 million with Perry prsonally pocketing an estimated US$138 million, stated Forbes.

Perry has also made appearances in films including Gone Girl, Teenage Mutant Ninja Turtles: Out of the Shadows and Don't Look Up.

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Doing business differently

Tyler Perry followed the advice that Oprah Winfrey gave him. Photo: @tylerperry/Instagram

It seems Perry has held onto the business advice Winfrey gave him of keeping as much control of his projects as possible.

He recalled to Forbes how, at one stage, he went to Lionsgate CEO Jon Feltheimer with a proposal as he was reworking the film Diary of a Mad Black Woman. The businessman proposed to put up half the money, collect half the profits and keep control of the content for the film.

The article stated that Feltheimer assumed the production would make US$20 million in total. But the results were better than he could've imagined. In the end, the film cost US$5.5 million to make and grossed US$51 million in theatres. It has also since made US$150 million in video rentals, on-demand viewing and TV licensing.

Tyler Perry attends the Vanity Fair Oscar Party following the 94th Oscars at the The Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 27. Photo: TNS

© Provided by South China Morning Post Tyler Perry attends the Vanity Fair Oscar Party following the 94th Oscars at the The Wallis Annenberg Center for the Performing Arts in Beverly Hills, California, on March 27. Photo: TNS

According to Forbes, Perry and Lionsgate made 11 Madea films over 14 years, all of them on minimal budgets. By the end of 2019, when the franchise was retired, it had grossed more than US$670 million in theatres and US$290 million in fees and profits, reports Forbes.

Tyler Perry Studios

Tyler Perry's studio is located in Atlanta. Photo: @tylerperry/Instagram

Forbes calls it America's most prolific production venue for entertainment for black audiences. In 2015, Perry paid US$30 million for the property and has since spent another US$250 million on the studio operations, per the same source. The studio is based in Atlanta and has 12 stages, custom sets and a White House replica, reports Life & Style.

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Tyler Perry's studio. Photo: @tylerperry/Instagram

Perry owns every part of the 330-acre (133-hectare) property. Forbes reports he has a deal with ViacomCBS that pays him US$150 million a year for new content, plus an equity stake in streaming service BET+.

The billionaire has also rented studio spaces to productions like Walt Disney's Black Panther and TV show The Walking Dead, per Forbes.

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