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Tyler Perry, an ace filmmaker, and actor has officially been declared a billionaire by Forbes. Tyler Perry is the latest member of the billionaires exclusive club in a recent issue of Forbes.

According to Forbes-which keep tabs on the wealth of celebrities and business leaders across the globe — disclosed that the director has taken in $1.4 billion in pre-tax income since 2005, and is currently worth $1 billion in total.

According to Forbes, Perry’s immense wealth is a result of his shrewd business prowess and the fact that he owns 100 percent of everything he creates. This includes a bevy of TV series, dozens of films, and multiple successful stage productions.

The filmmaker also recently changed the filmmaking game for himself when he opened his own 330-acre studio lot in Atlanta, Georgia, of which he gave Forbes a tour for their profile piece.

Forbes further broke down Perry’s wealth with a graph showing $300 million resides in investments and cash, $60 million comes from his stake in BET, $280 million comes from the value of his studio lot, and $40 million resides in his homes and personal material assets, or “toys” as the publication refers to them.

The largest source of Perry’s wealth comes from his library of film and TV media rights, which the publication values at $320 million.

Perry joins a shortlist of celebrity billionaires which include Kanye West, JAY-Z, Oprah Winfrey, Steven Spielberg, and George Lucas.

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