Cowell, 53, who has dated actress Carmen Electra and singer Dannii Minogue in the past, said he does not pay attention to such rumours, reported People magazine.
"A lot of my friends are gay, but I'm not and don't even think that way any more. It feels like such an antiquated question. I couldn't care less because it's nothing to be ashamed of. If I was living 200 years ago in a coal mine, maybe, but I work in possibly the gayest industry in the world," he said.