MILLIONAIRE music mogul Simon Cowell often believes his own hype — which causes him to fail!
The 52-year-old – who lost all his money in the late 80s and ended up living back at home with his mother — admits his ego has been his biggest downfall.
“I’ve had many failures. The biggest were at times when I believed my own hype. I’d had smaller failures, signing bands that didn’t work, but my record company going bust, that was the first big one,” he said.
“I was a typical Eighties cliché. I had the cars, the house, the image and everything was beyond my means. I spent too much time at parties and then everything imploded.
“Amazingly, it felt quite a relief when it happened. It was the point when interest rates were 60 per cent, everything came crashing down. I got rid of everything — I had negative equity on my house
“Losing everything is probably the greatest lesson you learn. I went back to my parents’ house and started again. From then on everything I did was different. It was all about the work. I sold the Porsche, got a classic red TR6 for seven grand. I loved that car more than the Porsche.
“Sometimes you throw a pebble in the water – occasionally a rock – just to wind everybody up. When things get a little too comfortable I get bored. And yes, it amuses me.”
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