Disney CEO Bob Iger was just named TIME’s Businessperson of the Year. Here’s how the media titan makes and spends his $690 million fortune.

Bob Iger isn’t called the “King of Hollywood” for nothing — and now, the “King” has been deemed TIME’s Businessperson of the Year.

This news also comes on the heels of the announcement that Iger will finally be inducted into the Television Academy Hall of Fame.

Since starting his entertainment career in 1974 as a studio supervisor at ABC, Iger has climbed through the show business ranks to become the CEO of one of the most powerful businesses in the world. Iger recounted this journey in his memoir “The Ride of a Lifetime,” released in September, in which he chronicled how he went from making $150 a week doing “menial labor” on ABC shows to earning over $60 million a year running The Walt Disney Company. 

Business Insider previously reported that since Iger became CEO in 2005, he has raised Disney’s profits 335%. But after 45 years in the entertainment industry, Disney isn’t the only thing Iger has built up — he has also amassed a sizeable personal fortune. 

Forbes reported that Iger has a net worth of $690 million, which is thought to be higher than that of Abigail Disney; the Disney heiress said in July she’s worth about $120 million. Iger, meanwhile, was compensated $65.6 million in 2018 — which Forbes notes is 1,424 times what the average Disney employee makes.

The Walt Disney Company didn’t immediately respond to a request for comment from Business Insider.

Here’s what we know about Iger’s life and rise, including how he made and now spends his multimillion fortune.

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