Simon Cowell is making a fortune off the back of bad singers and crazy dancers as recent reports suggest that he is now worth a whopping £200 million.

The X Factor boss is said to have made £35 million last year from his various business interests including the hit ITV singing show, Britain’s Got Talent, America’s Got Talent, and his SYCO music label. He has now been placed in the number six spot on this year’s Sunday Times Rich List of Britain’s music millionaires. The full list will be revealed in the newspaper this Sunday.

Simon – who owns homes in Beverly Hills, Barbados, Malaga and Dubai – has overtaken music legends such as Sir Mick Jagger, Sir Elton John, and Rolling Stones’ Keith Richards on the list, but we suspect he won’t rest until he bypasses those higher up the list such as his one time colleague (American Idol boss) Simon Fuller and former Zomba Records owner Clive Calder who took the top spot with a £1.3 billion fortune.

Other musicians who made the list were Beatles legend Sir Paul McCartney, with a £495 million fortune, and Sting with £180 million.

Even though Simon – who is engaged to make-up artist Mezhgan Hussainy – can claim to be one of Britain’s richest men he admitted he still enjoys playing the National Lottery, but would never tell anyone if he scooped a million pound jackpot.

He said: “I still buy lottery tickets. I still play. But I tick the box that says no publicity so no one would know.”

However, despite his vast wealth, Simon has recently admitted he often gets in “dark moods for no reason” and has often considered going to see a psychiatrist to deal with “a number of issues” he has.

He explained: “If I ever decided to go to a psychiatrist, it would be a long session. I have always thought that I do have a number of issues that probably need dealing with, because I am quite odd in some ways.

“I get very dark moods for no reason. I just sit on my own for days.”

Top 10 music millionaires:

1. Clive Calder – £1.3 billion

2. Lord Andrew Lloyd Webber – £680 million

3. Cameron Mackintosh – £675 million

4. Sir Paul McCartney – £495 million

5. Simon Fuller – £375 million

6. Simon Cowell – £200 million

7. Sir Elton John – £195 million

8. Sir Mick Jagger – £190 million

9. Sting – £180 million

10. Keith Richards – £175 million