Simon Cowell The American Idol judge – who is worth an estimated $200 million – recently split from his long term girlfriend Terri Seymour, is set to laugh in the face of the current economic downturn – by building a $20 million bachelor pad in Barbados.

And to celebrate his newly single status, Cowell bought ten acres of land close to the exclusive five-star Sandy Lane resort on the luxury Caribbean island, in which he plans to build his dream home.

A source tells the UK’s Daily Mirror newspaper, “No expense will be spared – it will have installed all the latest gadgets and boys toys.

“Cowell has been very specific when it comes to what he wants – and specifically insisted on the mirror panels in the bedrooms.

“He thinks they will be hilarious and can’t wait to show them off. Simon says the project is his pride and joy and that he’ll be personally overseeing the whole building process.”

The six-bedroom pad will also boast a helipad; an indoor mini-cinema; a top-of-the-range kitchen and a marble bathroom, as well as a swimming pool with a poolside bar.

It will be Cowell’s second mansion on the island.

The source added, “He is undecided at the moment about whether he will sell his other pad or not.

“He’s so loaded, he might keep both of them. It’s a luxury he can afford.”