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Michael Jackson Estate

Huge Financial Gains Revealed

8/24/2011 2:45 PM PDT BY TMZ STAFF

0824_michael_jackson_EX
New documents reveal ... Michael Jackson was in such debt at the time he died, his Beatles catalog was almost valueless, but the Estate has worked nothing less than a financial miracle to right the ship.

The docs -- obtained by TMZ -- show that at the time Michael died, his net worth was around $50 million.  Shockingly, the ATV Publishing Trust -- the Beatles catalog -- was valued at only $474,544.  We're told the reason it was so low was because Jackson had borrowed around $300 million against it.

Now, fast forward to October, 2010 -- 15 months after MJ's death.  The net value of MJ's estate -- under the leadership of the Executors -- swelled to $218,964,000.  And get this ... that figure doesn't include $185 million the Estate paid out for loans, family allowances, interest, paying off the Hayvenhurst mortgage, etc.

There are no figures for the current value of the Estate, but sources say it's worth much more than the valuation in October, 2010.

Short story -- Michael could be entering Elvis territory.

168 COMMENTS

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1.

some guy    

About time. I applaud the Estate for choosing the right people to run it properly. Kinda wonder who the hell has been running things before the new people showed up.

969 days ago
2.

Reyna38    

HERE COMES HIS MOTHER . TO MAKE SURE THIS BITCH DOES GET ALL THE MONEY THAT SHOULD NEVER GO TO HER... GREEDY .. BUT SHE IS BLACK.

969 days ago
4.

Slutty Whores Rock    

OF COURSE the estate is making chedda. Now that the junkie child molester is dead, there's no more $25 million payoffs to the many boys he buggered, plus all the drugs he was taking cost a fortune.

969 days ago
5.

sfd    

Wow TMZ. Not really Financial Journos are you? Net value takes into account assets and liabilities as well as any retired debts, allowances, legal fees, etc.

969 days ago
6.

Jack    

MJ's mother should sit down with Amy Winehouse's parents and teach them properly how to exploit a dead child, although it looks like they are doing fine without the help.

969 days ago
7.

Gsharon 710    

So TMZ when is the next big news of the Estate bringing back some more of the stolen money to make them appear to be doing such "a good job?" People with serious financial trouble take care of home first and do not continue to give to charities, so the Estate pat on the back is BS.

969 days ago
8.

Marie    

Yet Katherine Jackson and her children and her husband Joe are all saying that the lawyers managing Michael Jackson's estate are crooks and thieves and murderers. In about a decade Michael Jackson will be richer than Elvis Presley. Priscilla Presley must be crying in her soup now because she tought Michael Jackson was a nobody who wanted to steal Elvis' estate money by marrying Lisa Marie Presley. That's why she told her daughter to divorce Michael quick before she turns 30 and inherit Elvis' estate money. Michael worked hard all his life for his money. He did not need to steal no dead man's money.

969 days ago
9.

maxichix    

THAT'S GREAT!! MICHAEL HAS GIVEN AWAY SO MUCH THAT IT DOESN'T MATTER TO ME WHAT THE TABLOIDS ARE SAYING ABOUT HIM. I HAVE JUST LEARNT THAT HIS FORMER MANAGER FRANK DILEO HAS PASSED AWAY, SO SAD

969 days ago
10.

Irka    

Off topic, but I'm surprised TMZ has not yet reported on Frank Dileo's passing.

http://www.michaeljackson.com/us/news/estate-michael-jackson-remembers-frank-dileo

969 days ago
11.

fordtocarr    

That's so insane. Michael warned against believing the media. Michael has money wrapped up in everything. He owns a kingly hotel on an island. The art work they found of his is worth $900Million....his own music is worth a fortune. We'll probably never know how much Michael had or was worth.

969 days ago
12.

maxichix    

I LOVE MICHAEL IT DOESN'T MATTER. HE LOVRES TO GIVE. JUST LEARNT FRANK DILEO PASSED AWAY

969 days ago
13.

Criss    

This is the first I'm hearing that Frank Dileo died!

969 days ago
14.

Jack920    

MJ's Estate should be worth a helluva lot more than Elvis Presley's just on music alone. But it all depends on good management by the executors. Would love to see a breakdown on the family allowances - pretty sure Rebe and LaToya are the only siblings on that list!

969 days ago
15.

dolphin    

Does anyone know if he "could have" been worth that much before he died? or is it because he died.

What a sad thought if this could have been done while he was alive and therefore would still be alive.

Love ya MJ

969 days ago
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