Four Ways the X Factor Winner Could Spend $5 Million
If Simon Cowell is biting off more than he can chew, he is willing to eat $5 million worth. The former American Idol judge, best-known for his blunt but honest criticism, has been busy promoting the widely anticipated American version of the X Factor show, set to debut in September, and has been answering questions about this large sum.
In a conference call between Cowell and reporters, he said, "By putting up that kind of prize money, it's a massive, massive risk, but it's also an incredible incentive." He said that although it's a lot of pressure being put on him, he feels confident he'll find a star. Whoever wins the recording contract gets the money over a period of five years, $1 million a year. Cowell said in the conference call that financial support will be offered so the winner doesn't have to invest or look after the money.
the prize money. The specific breakdown was not mentioned, but it's
still probably different from winning the lottery. Anyone 12 years of age or older can try out, and the talent is
going to range greatly, considering bands are eligible and there's no age
cap. Cowell said he likes the idea of a teen competing with a group or
someone like Diana Ross.
Theory #1: So it turns out the semicreepy guy -- a male Susan Boyle, perhaps -- who always comes to the neighborhood bar, orders a craft beer, and never says a word -- has an amazing singing voice. He wins X Factor based upon his spot-on rendition of Barry Manilow's "Mandy" and now has to figure out what to do with all his winnings. He would...
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