Simon Cowell broke his back testing his new electric bike at his home in California.
The music mogul, 60, was trying out the bike in the yard of his Malibu home when he fell.
A spokesperson for Cowell said he was scheduled to undergo surgery on Saturday evening.
He is currently under observation in hospital and is doing well.
Cowell is the creator of America’s Got Talent and serves as a judge on the show.
He has also been a judge on Britain’s Got Talent, The X Factor and American Idol.
The spokesperson told Deadline: “Simon fell off his bike on Saturday afternoon while testing his new e-bike in the yard of his Malibu home with his family.
“He injured his back and was taken to hospital. He is fine, he is under observation and he is in good hands.”
Cowell has a six-year-old son, Eric, with partner Lauren Silverman.
Last month it emerged that Cowell had bought Sony Music Entertainment’s stake in TV programs including Britain’s Got Talent and The X Factor.
This decision allows him to become the owner of all international versions of The X Factor and Got Talent programs.
The Got Talent format airs in 76 markets, while The X Factor airs in over 130 territories.
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Sony Music’s share of the business was transferred to Syco Entertainment, a company solely owned by Cowell.
Filming on the next leg of this year’s Britain’s Got Talent has been postponed due to the coronavirus crisis, but ITV said it hoped to continue the series later this year.