Michael Jackson Net Worth:
Michael Jackson was an American singer, actor, songwriter, producer and philanthropist. Between 1985-1995, Michael Jackson has earned about $50 to $100 million per year through touring, endorsements, record sales and merchandise.
Calculating someone’s worth after their death is really a very difficult job. But Michael Jackson’s net worth was more than £370million in debt when he died due to drug overdose in June 2009 at the age of 50. Jacko was known for his extravagant spending and accounts from 2015 and showed his estate was still shelling out thousands every year on balloons, flowers and cakes.
Dept of Jackson indicated than about £67,000 was spent on upkeep at his Neverland Ranch, while the cost of his estate “train and carousel” is £1,800. Jackson has five Rolls-Royces which costs up to £75,000 and a 2001 Bentley Armitage worth £68,000. He also spends about £300,000 on public relations and £3.7million in legal fees. Apart from this all, his net worth has been reported as approximately $500million i.e. £392million.
Jackson’s music catalogue was his most valuable asset. The copyright value of his own songs costs about $100 million. Michael’s first foray into its own music rights started in the early 1980s when he purchased the catalogues of Sly and the Family Stone. After which he bought a series of classic singles like “Great Balls of Fire”, “Shake Rattle Rattle and Roll”, “When a Man Loves a Woman” and “Runaround Sue”. But in November 1984 when Michael has purchased The Beatles catalogue ATV music worth $47.5 million, it became the biggest win in his entire life. The Beatles catalogue was further merged with Sony and it creates a 50/50 joint venture which was famous as Sony/ATV and it is estimated to be worth $2 billion.
Given below are the highlights of Michael Jackson’s Net worth:
- The Neverland Ranch which costs $17 million with a cost of about $5 million in annual maintenance
- To settle a child molestation lawsuit, he spent $20 million.
- $65 million is spent on a variety of video projects such as 35-minute film “Ghosts” that he co-wrote with Stephen King
- On his divorce with baby momma Debbie Rowe, he spent $12 million.
- He has to spend $5 million in annual interest payments on his debts.
- Tens of millions spent on Bentleys, art, antiques, chimpanzees, clothes, diamond-encrusted gloves and some other trinkets.