Simon Cowell smokes a cigarette while driving his $1.3 million Bugatti Veyron

Simon Cowell driving his Bugatti

HE'S already rich beyond his wildest dreams. Try telling that to Simon Cowell though – whose bank balance has got even fatter after he raked in £28million in 12 just months.

The windfall takes his fortune to £200million and follows a bumper year in which he reclaimed the rights to the X Factor and Britain's Got Talent in a massive deal with Sony BMG.

Last year's agreement saw a new company – Syco Entertainment – formed and its success was laid bare in new documents filed at Companies House.

For a 50% stake in the venture, Cowell was paid £26,754,967, according to Syco's first annual accounts for the 12 months up to March 31 this year.

Simco, which produces Cowell's programmes including gameshow Red or Black?, recorded revenues of £28million.

Accounts also showed TV network Fox has commissioned a second season of his US X Factor – meaning his pay will soar even further. The documents noted: "This expansion offers a major opportunity for the future growth of the company."

The number of staff employed by Simco nearly doubled, from eight to 15, as a result of "future expansion plans".

Fox decided to renew the talent show – featuring judges Cowell, L A Reid, Nicole Scherzinger and Paula Abdul – after its initial ratings success. Fox president Mike Darnell said he was delighted with the average of 13.5 million viewers per episode the show pulled in.

He declared: "The show's been a monumental success."

Despite this, it still has half of the viewers of American Idol, which Simon left to create a US version of his talent search.

But a source said: "There is massive scope to make US X Factor even bigger – and this is very much just the beginning. Advertisers have been impressed with the constantly good ratings and the audience will only grow – as will Simon's pay packet."

Cowell, meanwhile, was yesterday anxiously awaiting the ratings for the US show's final on Thursday night.

An emotional Melanie Amaro won the competition – and a £3.2million recording contract.

Leona Lewis made a triumphant return to performing after a spell out of the limelight. Leona, who won X Factor UK in 2006, sang Run by Snow Patrol.

It wasn't such a good night for host Steve Jones, who looks certain to be axed from the show after a stuttering performance.