Michael Jackson's Finances at Time of his Death

[Damocles]

From what I read MJ still owns the rights to the Beatles songs. The value of these songs? Estimates run as high as $1 billion.

MJ had $400 million in debt to creditors. He was not broke. He would just have had to sell stuff he didn't want to sell. Now it will be auctioned.

I think that the Jackson Family will use proceeds to buy Neverland and make it into a Graceland shrine for MJ, thus in death he will fund his family for generations.

 

[Topspin]

He was far from broke, He owned a lot more music that just the Beatles.

His personal life seemed as sad and pathetic as his public life was uncontested in it's stardom.

 

[Demwit]

Didn't he buy the Elvis music and his daughter as well?

 

[LadyT]

Wow, according to local paper today he was in debt $400 million when he died. That's racking up some seriously impressive debt. It sure seems he lived a truly extravagent lifestyle. I have no idea if that kind of debt had anything to do with his failing health but I wouldn't think it would help.

I read that his assets are estimated at up to $1B.

But honestly I think I'd be more impressed if he had no assets and managed to rake up $400m in debt and not have to pay any of it back.

That's awesome.

 

[uscitizen]

I read today that wall street investment firms are lining up with claims against the estate. Apparently several of them had invested 10's of millions in MJ.

 

[PostmodernProphet]

I read today that wall street investment firms are lining up with claims against the estate. Apparently several of them had invested 10's of millions in MJ.

I expect then that the next step will be Obama pressing for the government to bail out Jackson's estate.....

 

[uscitizen]

I expect then that the next step will be Obama pressing for the government to bail out Jackson's estate.....

I hope not and will complain if he does.
Although part of it might be already covered under the Bush TARP money.

 

[PostmodernProphet]

(and the first bit of precision they teach you in law school is that courts don't find people "innocent")

really?.....I don't recall that....which law school did you attend?.....

 

[DamnYankee]

I read today that wall street investment firms are lining up with claims against the estate. Apparently several of them had invested 10's of millions in MJ.

What dummies lol.