AceShowbiz - Actor, director, and studio owner Tyler perry has officially achieved billionaire status.

According to calculations by finance officials at Forbes magazine, the Madea creator and star's pre-tax income since 2005 has hit $1.4 billion, with an estimated net worth of $1 billion.

The 50 year old's riches are primarily made up of his Atlanta, Georgia-based Tyler Perry Studios, valued at $280 million (£210 million), $300 million (£225 million) in cash and investments, $320 million (£240 million) library of his own content, and $40 million (£30 million) in properties, and various possessions. He also has a lucrative stake in the BET+ streaming service.

Perry, who writes, produces, and/or directs TV shows like "The Haves and the Have Nots", "The Paynes", and "The Oval", now joins the likes of Jay-Z, Kanye West, and longtime pal Oprah Winfrey in the celebrity billionaire club - a long way from his poverty-stricken past, which at one point, included homelessness.

"I love when people say you come from 'humble beginnings.' (It) means you were poor as hell," Perry quipped.

Discussing his namesake studio, which made him the first African-American to own a major film hub outright, he told Forbes, "Ownership changes everything. I own the lights. I own the sets. So that's where the difference is. Because I own everything, my returns are higher."

And Perry has always made sure to give back to the community, often using his hard-earned cash to surprise locals, covering their layaway bills during the Christmas holiday season, and picking up the grocery tab for elderly shoppers earlier on in the coronavirus crisis.

He has also dug deep to help with relief efforts in the wake of hurricanes and other natural disasters, and recently covered funeral costs for a number of shooting victims, including Atlanta resident Rayshard Brooks, who was gunned down by a white police officer in June (20).