Despite massive debt, Michael Jackson still claimed to have a net worth of $200 million, this according to papers obtained by the AP.
As of March 31, 2007, the papers show Michael had $567.6 million in assets -- which includes Neverland Ranch and his share of the Sony/ATV Music Publishing catalog (which includes the rights to songs by the Beatles) -- but his net worth was listed as $236 million.
The docs show Neverland was valued at $33 million and the publishing catalog was worth a whopping $390 million.
6/30/2009 9:10 AM PDT BY TMZ STAFF
Michael Jackson's Net Worth Revealed
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(Page 1 of 3) | 1 | 2 | 3 | Most Recent | Next 15 Comments1.
Jackson posthumous music sales outstrip Elvis and John Lennon
http://business.timesonline.co.uk/tol/business/industry_sectors/media/article6607989.ece
HMV today claimed that sales of Michael Jackson's music have outstripped the demand for material by Elvis Presley and John Lennon following their untimely deaths.
Simon Fox, the chief executive of HMV, said that sales of Michael Jackson albums have multiplied by 80 times, totalling 40,000 units, since the singer's death last Thursday. He estimates that across the UK, 125,000 albums by Jackson have been sold since last week.
The music retailer, which had stocked up on albums by the King of Pop in anticipation of his 50 farewell performances at the O2, sold out of CDs on Saturday and is currently re-stocking from Sony.
During his lifetime, Jackson sold over 750 million records and Mr Fox today claimed that the recent surge in demand for CDs surpassed that following Presley's death in 1977 and Lennon's assassination in 1980.
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3.
Jackson posthumous music sales outstrip Elvis and John Lennon
http://business.timesonline.co.uk/tol/business/industry_sectors/media/article6607989.ece
HMV today claimed that sales of Michael Jackson's music have outstripped the demand for material by Elvis Presley and John Lennon following their untimely deaths.
Simon Fox, the chief executive of HMV, said that sales of Michael Jackson albums have multiplied by 80 times, totalling 40,000 units, since the singer's death last Thursday. He estimates that across the UK, 125,000 albums by Jackson have been sold since last week.
The music retailer, which had stocked up on albums by the King of Pop in anticipation of his 50 farewell performances at the O2, sold out of CDs on Saturday and is currently re-stocking from Sony.
During his lifetime, Jackson sold over 750 million records and Mr Fox today claimed that the recent surge in demand for CDs surpassed that following Presley's death in 1977 and Lennon's assassination in 1980.
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4.
Doesn't matter what his net worth ends up being.
The vultures (aka LAWYERS) are the ones that are going to get the majority, by dragging this out for years and years. Mark my words.
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5.
SCREW HIM..... what about Farrah, she did something great with bring awareness to cancer research and what has mike done, other then music? He wanted to be like Elvis, and now he is, dead from drugs, making more money dead then alive and within the next 5 years there will be thousands of "MICHAEL" sightings. R. I. P. FARRAH .... we LOVE YOU MORE !!!!
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6.
#5 you need to do ur research. MJ is in the Guinness Book of World records for being the POP star who has contributed to the MOST charities EVER!!! so while Farrah was brining awareness to Cancer Research, MJ has been donating money to chairites since the 80's...do your research!!!!!
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7.
::what about Farrah, she did something great with bring awareness to cancer research and what has mike done, other then music?::
Oh gee, he was in the Guiness Book of World Records for being the most charitable pop star of all time, having donated millions of dollars to over 40 organizations worldwide including foundations he started himself. He did everything from raising millions for poverty in Africa in the 80s to stopping at hospitals on every stop of his tours to creating a burn center for children after his hair caught fire doing the Pepsi commercial. When I read comments like this, I realize how underestimated Michael was by the media and what a poor job they did representing this aspect of his life. While he won many awards for his humanitarian work, he never publicized it, as clearly evident by public misconception about his huge generosity. He didn't do it for attention, which is why he flew under the radar about it. But sadly, it resulted in even more misunderstandings and underappreciation of this man. RIP Farrah Fawcett, but Michael Jackson did a heck of a lot more for charity and humanity than she did.
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8.
#37 it looks like we posted at the same time...but i TOTALLY agree with you!!!!
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9.
please, TMZ has lied before, so don't be surprised if this "information" is not true.
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10.
10. please, TMZ has lied before, so don't be surprised if this "information" is not true.
it is true...CNN just sent out a breaking news alret stating the same thing...
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11.
If MJ had all these assets, why did he continue to live in debt? I don't get it.
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12.
Do any TMZ staffers know what "net worth" means"? It is the amount you have left AFTER the debts are subtracted:
Equity
- Debt
= Net Worth
Find out how much his debts were and get back to us. This report does not sound accurate.
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13.
Michael was a business man... His father is a business man.., No matter how wrong his father is he knows how to make money... Mike was smarter than what people thought... He surrounded himself around people that make money and has very good advisers... Liz Taylor, Liza Minnelli, and the list goes on. They taught Michael how to invest and invest well. So not only is he the King of pop...It seem he is the king of the music business.
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14.
Give McCartney the option to buy back his music. MJ bought it in a very sneaky slimey way. Time has come Paul, GO GET WHATS YOURS!!!!!!!
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15.
::Give McCartney the option to buy back his music. MJ bought it in a very sneaky slimey way. Time has come Paul, GO GET WHATS YOURS!!!!!!!::
The reason Michael Jackson had the Beatles catalogue and not Paul was because Michael was willing to shell out $45 million dollars for it and Paul wasn't. If his music meant that much to him, you'd think he would have outbid MJ. Of course, Paul ended up paying more to his ex-wife than the value of that purchase. Paul McCartney is a brilliant songwriter but certainly made some dumb decisions concerning his money.
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