Tyler Perry has officially joined the billionaire club! Yes, the multi-talented star has finally become a member of the exclusive Forbes' list of the billionaires.

The outlet is popular for tracking the monetary value of the popular name in the business and entertainment industry around the world. The publication recently released a cover story that features the filmmaker and actor being worth $1 billion.

As per the outlet, the 50-year-old wealth has been reflected with his business entities that he owns completely without any partners. The entities involve various television shows, several stage productions, and of course many movies.

The filmmaker has successfully turned the table in his favor since he started his own studio lot that is spread in 330 acres in Atlanta, Georgia. In fact, Perry took the Forbes' team a tour to his studio to shoot for his profile.

The tour and the information received the Forbes, helped them to provide a breakdown graph of Perry's wealth. The actor holds $300 million worth of cash and investments. While his $60 million stakes are invested in BET, the huge chunk of value is added with the help of a studio lot that is $280 million. His personal assets and homes are worth $40 million.

The major source of income for The Haves and the Have Nots director comes from television media rights and movie library that has been valued by the publication at $320 million. The list of billionaire celebrity is short and Perry makes his space along with George Lucas, Steven Spielberg, Oprah Winfrey, JAY-Z, and Kanye West.

Given that, the filmmaker ensures that most of his wealth is used to serve great causes through The Perry Foundation, which is a charitable foundation. In fact, the foundation helped him gain a special Emmy that will be presented to him during the ceremony.

Perry opened up about his mother, Willie Maxine Perry with Nischelle Turner, who is a reporter at ET. The actor revealed that the motivation to donate comes from his mother. "I realize that people aren't out there struggling because they want to. There are people that just need a hand up and that little bit of motivation can take them a long way," he said.

He further explained that it is his mother's DNA that makes him do such an honorable cause. Perry noted that most of the charity work is done during her birthday as he believes she must be watching from heaven.