Michael Jackson was technically $500 million in debt at the time of his death from decades of overspending and overborrowing.
| Assets at time of death: | Minus 442 million euros |
|---|---|
| Nationality: | USA |
| Source of wealth: | Singer |
| Birthday: | August 29, 1958 – June 25, 2009 (50 years old) |
| Size: | 1.75 m |
| Other sources of income: | Entertainer, Songwriter, Choreographer, Record Producer, Actor, Businessman, Film Producer, Dancer |
Michael Jackson was one of the most successful entertainers of all time. His career spanned more than four decades and he has sold over 750 million records worldwide. Jackson also had a successful acting career.
How much money did Michael Jackson make in his lifetime? Read on to find out!
In the 1980s, Michael Jackson earned between $50 million and $100 million each year from touring, record sales, endorsement deals, and product sales. Even after his death, Michael Jackson is one of the most famous and lucrative celebrities in the world.
To date he has sold over 750 million albums, including 35 million in the year after his death.
Michael Jackson’s Net Worth at Time of Death
Technically, it was minus 442 million euros. This is mainly due to his massive overspending. For example:
- 15 million euros for the purchase of Neverland Ranch.
- 4.4 million euros in annual maintenance costs for Neverland Ranch.
- 17.7 million euros for the settlement of a child abuse lawsuit.
- 10.6 million divorce settlement with his girlfriend Debbie Rowe.
Michael’s greatest asset was his song catalogue. While Michael’s own songs were worth $100 million in copyright, the jewel in his fortune was the music portfolio of other artists, most notably that of The Beatles.
When Michael bought the Sly and the Family Stone catalogs in the early 1980s, he began his career as a music rights holder. He then acquired classic singles like “Great Balls of Fire,” “Shake Rattle Rattle and Roll,” “When a Man Loves a Woman,” and “Runaround Sue.”
Michael’s greatest success came in November 1984 when he bought the Beatles’ ATV music catalog for $47.5 million. Sony/ATV was eventually formed through a 50/50 joint venture called Sony/ATV, which is now valued at an estimated $2 billion.
During his lifetime, Michael Jackson earned around $500 million from his own music, concerts, videos and advertising appearances. However, at the time of his death in 2009, he was $500 million in debt. After squandering all his money on an incredibly complex and luxurious lifestyle, Jackson was penniless.
He spent between $30 million and $50 million each year on his personal lifestyle and had massive unpaid bills owed to his attorneys, agents, and publicists.
Michael Jackson had the most valuable record deal in the world
Actions by his executors began almost immediately after Michael’s death to secure the singer’s finances. They quickly sold Sony Music Entertainment all rights to Michael’s future music for $250 million in what is still considered by most to be the largest record deal in the world.
His legal team spent weeks sift through thousands of hours of personal home videos from the last year of his life to create a film called This Is It, which was released in theaters worldwide. The film has grossed more than $500 million since its release.
inheritance to his children
Since his death in 2009, Michael Jackson’s estate has continued to raise funds. His earnings are said to have totaled over $825 million. In May 2021, a judge ruled that Michael Jackson’s estate was worth $111 million.
MJ’s three children each received 40% of his estate, which was divided equally in his will. 20% of his fortune was donated to various children’s organizations while the remaining 40% went to Katherine.
Since his death, Michael Jackson’s family has worked tirelessly to keep his legacy alive in the hearts and minds of his fans. In order to sustain the growth of his estate, Michael’s family and estate attorneys have feuded on numerous occasions.
Jackson lived and entertained in a mansion called “Neverland Ranch” for about five years before selling it for a fraction of the $100 million asking price. It was eventually sold to billionaire Ron Burkle for $22 million.
Michael Jackson’s children
Michael Joseph Jackson was born on August 29, 1958 in Gary, Indiana. At the height of his career, he married Elvis Presley’s daughter, Lisa Marie, on May 26, 1994. While in Sydney, Australia for the HIStory tour, he married longtime girlfriend Debbie Rowe in 1996 and had two children: Paris-Michael Katherine and Michael Joseph Jr.
On February 22, 2002, his third child, Prince Michael II, was born, the identity of the surrogate mother is unknown. Michael Jackson died just weeks before the start of his much-anticipated comeback concert series This Is It, which was scheduled to take place on July 13, 2009 at London’s O2 Arena.
Michael Jackson’s death
An emergency call was received at approximately 12:22 p.m. on June 25, 2009 at Jackson’s rented home in Holmby Hills, Los Angeles, California. He was pronounced dead at 2:26 p.m. Pacific Time.
Michael Jackson – Chicago Lyrics
I met her on my way to chicago
where she was all alone
and so was i so i asked her for her name
she smiled and looked at me
i was surprised to see
that a woman like that was really in to me
she said she didn’t have no man
raised the kids very best she can (she was lovin me)
she told me she was all alone
sad at home she didn’t have no phone(she was wanting me)
she said just give her a page
filthy-nine was the code she gave
she lied to you lied to me (she was lovin me)
cause she was lovin me lovin me
yeah
i never would have thought she was living like that
her words seem so sincere
when i hold her near she would tell me how she feels
it felt so real to me
this girl she had to be
an angel sent from heaven just for me
she said she didnt have no man
raised the kids the very best she can (she was lovin me)
she told me she was all alone
sad at home she didn’t have no phone (she was lovin me)
she said just give her a page
filthy nine was the code she gave
she lied to you lied to me
cause she was lovin me lovin me
yeah (she was lovin me)
she tried to live a double life (she was lovin me)
lovin me while she was still your wife (she was wantin me)
she thought that lovin me was cool
while you at work ad the kids at school (she was lovin me)
she said that it would never end
try to get me any way she can (she was wantin me)
she lied to you lie to me
cause she got a family family yeah
why? no, alright
oohhh oohh oooh
i feel
daddada daddada
i didnt know she was already spoken for
cause im not that kind of man
i swear that i would have never looked her way
now i feel so much shame
and now things have to change
you should know that im holding her to blame
she said she didnt have no man (holdin her the blame)
raised the kids the very best she can (holdin her the blame)
she told me she was all alone
sad at home she didn’t have no phone (holdin her the blame)
she said just give her a page
filthy nine was the code she gave (holdin her the blame)
she lied to you lied to me
cause she was lovin me lovin me
yeah (holdin her the blame)
she tried to live a double life
lovin me while she was still your wife (holdin her the blame)
she thought that lovin me was cool
while you at work and the kids at school (holdin her the blame)
she said that it would never end
try to get me any way she can (holdin her the blame)
she lied to you lie to me
cause she got a family family yeah (secret time for me)
she said she didnt have no man (she was lovin me)
raised the kids the very best she can
she told me she was all alone
sad at home she didn’t have no phone (she was lovin me)
she said just give her a break
filthy nine was the code she gave
she lied to you lied to me
cause she was lovin me lovin me
yeah (she was lovin me)
she tried to live a double life
lovin me while she was still your wife (she was wantin me)
she thought that lovin me was cool (she was lovin me)
while you at work ad the kids at school (she was lovin me)
she said that it would never end
try to get me any way she can (she was wantin me)
she lied to you lie to me
cause she got a family family yeah
Billie Jean lyrics
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