The iconic 'Hollywood' sign is a registered trademark, and only one person in the world has the licensed rights to sell the image on prints, postcards, posters and other products.
That person is an Australian living in Adelaide - Shane Yeend, CEO of global company Imagination Entertainment.
The multimillionaire has made most of his money by acquiring the rights to market interactive games based on popular culture.
According to the Age, the 45-year-old gained the licence rights to the Hollywood sign's image by accident.
Three years ago, as he was moving from Hollywood Hills back to South Australia, he tried to find a special piece of art to remind him of living the Hollywood dream.
One morning before dawn, he climbed Mount Lee in the Hollywood Hills to photograph the famous 14-metre-high letters, the report said.
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He used long exposures to create abstract shots, got the pictures reproduced on canvas and soon started selling limited-edition prints for 1800 dollars.
According to the report, but when he attempted to upload his photos to sell through an online stock library he was told he needed a licence from the trademark owner, the Hollywood Chamber of Commerce.
Yeend contacted Global Icons, the LA-based company that grants licences to using the sign's image in TV and film.
He told them that his company acquired rights all the time and sold licensed consumer products through some 85,000 international retailers.
Eighteen months ago, Yeend finally struck a deal with the Hollywood Chamber of Commerce for the rights to sell products using the image of the Hollywood sign, the report added.