Tyler Perry best known for his Madea movies is now Hollywood’s newest billionaire, according to Forbes.

The magazine made the announcement, revealing that the popular filmmaker had joined the elite of esteem billionaire as his net worth is $1 billion.

Perry’s journey from poverty to billionaire status was driven by his ambition to own everything he does.

“I love when people say you come from ‘humble beginnings, [It] means you were poor as hell,” Perry told Forbes

The 51-year-old entertainer believes that “Ownership changes everything.”

From his 22 feature films and two dozen stage plays to over 1,200 television episodes, Perry owns everything including a 330 acre studio in Atlanta.

Wendy William took to Facebook to celebrate Perry on Wednesday, she wrote, “It’s official co-hosts! Filmmaker and philanthropist, Tyler Perry is a billionaire, according to Forbes. Perry has earned himself more than $1.4 billion since 2005 according to the site. Perry owns 100 percent of everything he creates. This includes a bevy of TV series, dozens of films, and multiple successful stage productions. Congratulations to Tyler Perry!!”

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