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Katherine Jackson -- The Buck Stops Here

6/28/2010 4:36 AM PDT BY TMZ STAFF

Katherine Jackson Katherine Jackson has a problem she may not realize -- while she's raking money in from various Michael Jackson businesses, the judge in the MJ estate case could shut her out of a huge monthly allowance the MJ estate has been providing.

TMZ first reported ... Katherine and Joe Jackson sponsored a ritzy Michael Jackson event at the Beverly Hilton Hotel Saturday night -- with tickets going as high as $500 a pop -- and if there are profits, we're told some of that will line her pocket.

And then there's the book she's hawking  -- "Never Can Say Goodbye" -- co-authored by Howard Mann, who made a fortune off of nude online gambling.

Mann tells us he's going into other businesses with Katherine as well. Roger Friedman from Showbiz411.com says he's seen a contract between Mann and Katherine which guarantees her $10,000 a month for promoting a book in the works, "The Katherine Jackson Story."  Mann claims Katherine will net $10 mil from the book.

Now here's the problem ... When the judge in the Michael Jackson estate case signed off on Katherine getting more than $26,000 a month, it was based on need.  If she's making money on the side -- especially making money off her late son -- it's likely the judge will no longer see the need to fill Katherine's wallet.

So it's coming down to a "Let's Make a Deal" decision. Katherine, do you want door #1 or door #2?

Stay tuned ...




103 COMMENTS

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61.

CloBird    

TMZ:
Here is a better accounting of the story;it's time that you hired people who know how to carry out proper research.
http://www.showbiz411.com/2010/06/27/michael-jacksons-mother-the-estate-and-money-the-real-story




After a weekend of wrong headed reporting and terrible TV specials that didn’t get much right–like ABC’s ridiculous “20/20″ extravaganza and Ian Halperin’s hideous “do***entary”–here’s the real story of Katherine Jackson, Michael’s estate, and money.



Mrs. Jackson went behind her own lawyer’s back–that’s Adam Streisand–and signed a contract with Howard Mann, the Toronto entrepreneur. Mann has said on TV that his deal with Mrs. Jackson makes her a wealthy woman. But that’s not exactly true.



According to the contract between Mann and Mrs. Jackson, which I’ve seen, Katherine Jackson is getting $10,000 in advance and 10,000 a month for promoting audio and video recordings that could be turned into a book or biography called “The Katherine Jackson Story.” The contract was signed on February 3, 2010 and witnessed only by Sonia Lowe, Mann’s collaborator. Streisand has never seen the contract. “The Katherine Jackson Story” became her book, “Never Can Say Goodbye.”



“My expectation is Katherine nets $10 million,” says Mann of Mrs. Jackson’s participation in the project. He thinks “Never Can Say Goodbye” will sell a million copies. So far it’s sold between 25,000 and 50,000.



The contract for these “performances” states that Mrs. Jackson will receive $5000 for promotional appearances. In other words, she was paid for showing up at the Jackson family event on Saturday at the Beverly Hilton. That may be why she agreed to return from Indiana on Saturday morning to promote “Never Can Say Goodbye.” Those audio recordings, transcribed and written by Sonia Lowe, became the copy for the book. The video interview was used in part for the NBC “Dateline” show on Friday night.



Insiders are scratching their heads wondering Mrs. Jackson entered into such an agreement, especially without legal representation. Going along proper channels, Mrs. Jackson could have picked up a seven figure advance from any New York publishing house.



“we did the deal between us,” Mann says. “Who was she going to call? Adam Streisand? He’s paid by the estate.”



Indeed, until the estate is settled–there are still outstanding claims–Michael’s estate is paying his mother’s lawyer’s fees. But that is not unusual.



And it’s not like Mrs. Jackson needs the money. According to those familiar with the as yet unsettled estate, Mrs. Jackson’s financial life since Michael died has been an easy one. Before he died, she was constantly in debt with the threat of foreclosure.



But since then, the Jackson executors have paid off the $5 million mortgage on the Encino estate known as Hayvenhurst (and always owned by Michael, not his parents); given Mrs. Jackson a new $90,000 Cadillac Escalade; paid salaries for everyone at the house including private chefs and Mrs. Jackson’s secretary, Janice; and all of her needs separate from funds which the children receive.



“She’s never been denied one thing she’s asked for,” says an estate source.



But Howard Mann insists that Mrs. Jackson is receiving “only” nine thousand dollars a month. It’s not enough, he says, to cover her expenses in Encino and at homes she maintains in Las Vegas and Gary, Indiana.



As for the children attending private school this fall, my sources say Mrs. Jackson has never even asked the estate for help or guidance.



Altogether, I am told, approximately $8 million has been spent on Mrs. Jackson this year including the buying out of the mortgage. So where has it all gone? And why would she make a deal for $10,000 a month to be in business with a total stranger?



The overriding theory: that Joe Jackson–who has no income and has tried to get an allowance of his own from the estate without success–is prevailing upon his much beleaguered wife for funds. He lives in Las Vegas, for example; Mrs. Jackson does not.

1489 days ago
62.

nita    

Janicebyrne "allowed" bi##h please! This is Jackson bussiness and slavery days are over. I'll be so happy when the executors are fired. The money should go to the Jackson family. All of the jacksons worked very hard to become succesful so they all should be able to use the estate and the Jackson brand name. Nobody should have control over that. MJ did make it on his own he had great directors that didnt take no for an answer.

1489 days ago
63.

Rudy    

CloBird - That's very interesting!

1489 days ago
64.

Tellit    

61. Katherine is just making sure her sons and daughters, who can not provide for themselves ( = most of them) will get by once she is dead. She knows she hasn´t got many years left and so she wants to leave them some money.
Posted at 9:01 AM on Jun 28, 2010 by Why oh Why?
__________
.
That would be fine if that were the case.
.
This family has run through probably around 300/400,000,000. (Joe and Katherine/their rugrats) of Michaels money over the past 30 years...and never saved 1 cent...in fact mortgaged Hayvenhurst on top of it.
They get a dime ....they spend a dollar.
Enough is never enough.
.
Hate to say it but they are trash.

1489 days ago
65.

oleman    

All of them, they are all ghouls, living off a dead man. The only one that has held any self respect is Janet, and she has stayed out of all of it.

1489 days ago
66.

Trish    

Good morning Tellit. Always enjoy your posts. Trust me... There is enough of the pie ($$$$$) for all of them. They just need to play nice and quit being so greedy. The money is going to tear this family to shreds. Stay tuned. They'll all be sueing each other. They won't have a kind word for each other.

1489 days ago
67.

SL    

The WHOLE family makes me sick to my stomach

1489 days ago
68.

MichaelJACKSON    

I L.O.V.E Katherine with all my heart. That being said, in the name of objectivity, I must say she turned into someone I can no longer recognize. She turned into JOE. Yeah, If she will let Joe play her like a fiddle, let her suffer the consequences. I hope they adjust her allowance. I hope court rethinks her costody too. She is exposing those children to stun gun, leak videos and letting her flandering "husband" who lives in Vegas with his OTHER family & bastard daughter exploit Michael's children via belts etc, I say don't give her special attention, treat her equally. When Joe does things its wrong, same should go for her..... Mamam KAtherine, either have some dignity and quit exposing yourself to JOe aka EVIL, or hand over the kids to Debbie Rowe and move back to Gary. WHY IS MICHAEL'S ESTATE PAYING FOR JERMAINE'S, RANDY'S KIDS, AND YOUR ASSISTANT? YOU HAVE A BABY SITTER, YOU DON'T RUN A COMPANY, WHAT DO YOU NEED AN ASSISTANT FOR? AND NOW, YOUR DEADBEAT HUSBAND IS ASKING MJ ESTATE TO PAY FOR HIS BASTARD DAUGHTER AND HER DAUGHTER.....F THAT!!!! YOU PEOPLE LOST YOUR MINDS!!!! NOT AS LONG AS MICHAEL HAS FANS THAT LOVES HIM UNCONDITIONALLY, WILL YOU PEOPLE CONTINUE USING HIM AND HIS CHILDREN!!!!! I say lower her allowance!

1489 days ago
69.

Heidi    

ClioBird.... Interesting & informative post...... Thanks for the link as well.....

1489 days ago
70.

Heidi    

ClioBird.... Interesting & informative post......

1489 days ago
71.

Tellit    

17. i dont understand,didnt michael leave his mom 40 procent of his estate, why is she getting penies for an allowance and not 40 procent of whatever his estate earns,......
why are they saving jackson's money,for who are they saving it?he clearly stated where he wanted hsi money to go and it sure wasnt the bank to get interest.....
Posted at 3:28 AM on Jun 28, 2010 by T
______
.
T..please reread your comments.
.
Michael Jackson set his estate up as a Trust....which prevents squandering an inheritance AND secures SAVING it "why/for who" (you ask)....the FUTURE.....and MICHAELS CHILDREN. His ONLY rightful heirs.
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HELLO? The purpose is to SAVE and MAKE MONEY (by bearing interest/investments)
.
It seems that you may unfortunately have the same financial mentality as Joe and Katherine Jackson.
.
The executors earn no more than they rightfully and legally deserve.
.
In the case of Michael Jacksons financial affairs/quagmire...they have earned 10 times over what they've been paid!!!

1489 days ago
72.

ItsMeAgain    

These people are pathetic. I was never a Michael Jackson fan.I respect his talent,just not my kind of music. But when you BLATANTLY profit from YOUR SONS death.you are going to have to answer for that.And good luck with that.These two(Katherine and Joe)may very well be the worst parents/grandparents in history.

1489 days ago
73.

politicalmo    

ARE YOU SERIOUS????? How the heck can these people tell ms. jackson what to do? it was her son that passed away not their's. she can make as much as she wants and more its not anyone's business but theirs. are you questioning the deal makers that are making hundreds of millions of dollars on the deals they are putting together using michael's name? do you question the fact that elvis' family is making untold millions off of elvis' name? you have no problem with people demanding their fair or unfair share if they look like you. but all of a sudden there is concern when this BLACK FAMILY excercises the same rights as everyone else. give me a break. you go mrs. jackson make as much as you can while you can. when she dies the money goes to charity. so get it now.

1489 days ago
74.

That's her Dang Son    

If his own mamma can't make no money off of him and she and Joe made love to make Michael, then NOBODY should be making money off of Michael. Without Joe and Katherine, there would be no Michael. You people need to mind your business; as long is ain't your money, what do you care?



All of you act like you have the intimate details of these celebrities lives. You all need to get a life.



Katherine get your money, cuz if you don't the greedy skeezers will. They just mad because you are getting it. How MJJ's money is made is spent is none of your business.



As far as the family is, all American families are dysfunctional. Just that folk like the Jacksons, their stuff is out there. There is not one functioning family in America. The closest thing we have as an example of a functioning family in America is the Obamas. No drama. Before you dogg the Jackson family, speak to the dried up bones in your own family.

1489 days ago
75.

Bird    

This whole situation is awful! The Jackson family has done nothing but go against Michael's wishes ever since he died. He didn't want his kids all over television and magazines, now they're on the front page of every magazine and website. He didn't want his greedy father or brothers getting any of his money, but they're getting more of it than his own kids. He had priceless, cherished belongings that are now carelessly being sold to strangers. His own Mother, who he trusted enough to leave nearly everything to, is now shamelessly profiting off his death because what he left her "isn't enough". Very sad. You would think that Michael's family would want to keep his treasured belongings and honor him is a selfless way, but everything the Jackson's do is to make money. The dollar signs flashed in Joe's eyes as soon as Michael died, and Katherine is too senile to even know what's going on. I'm glad the will executors are around to make sure Michael's kid's fortune doesn't get blown by these greedy wolves.

1489 days ago
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