Simon Cowell 'bought' at music auction

Fri Nov 6 2009 14:18:13

X Factor boss Simon Cowell has been snapped up by a music business rival at a charity auction.

The price tag of £19,000, for an hour of Cowell's time, was no barrier to fellow music mogul Lucian Grainge, chairman of Universal Music.

He was worth more than his pal Sir Philip Green, the retail tycoon, who went for £18,000 at the "Krug Mind Share" bash at Christie's auction house in London.

The price for Cowell's activity is way above the going rate for his time - he is thought to earn about £30 million each year, which works out at just over £3,400 per hour.

The talent show guru, whose label is tied to Universal's rival Sony BMG, donated the money he raised to Children's Hospices for which he was named as a patron last week.

Each of the figures taking part in the auction gave a share of their "mind" - or rather, an hour of their time - to raise money for a charity of their choice.

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