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MJ'S net worth was one Billion 360.8 million $ in 2007

Oceangirl

Oceangirl

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Michael Jackson -- Very Cash Poor
Posted Aug 25th 2009 2:00AM by TMZ Staff

TMZ has reviewed financial documents that show MIchael Jackson's cash flow was in the red zone. Jackson's liquid cash totaled .05% of his net worth.

According to the documents obtained by TMZ, Jackson's net worth was estimated at $1,360,839,979 on July 31, 2007. It's a fortune, to be sure ... but of that $1,150,000,000 is the Sony-ATV Publishing Trust (Beatles Catalog).

As for cold, hard "Cash in Bank" -- $668,215. Jackson could blow through that amount in a trip or two to the antique store.

The other assets:

-- Real property $73,475,000 (Neverland valued at $66,875,000, Encino Home valued at $6,600,000)
-- Restricted cash $10,696,764 (this is a cash reserve to pay interest on loans)
-- Media Archival materials $20,000,000
-- MJ Publishing Trust $85,000,000
-- Professional equipment $1,000,000
-- Automobiles, antiques, collectibles & other personal property $20,000,000

Combined assets total $1,360,839,979.

As for liabilities, the big ticket item is Neverland -- $323,000,000. The description "Notes payable to Fortress are collateralized by Mr. Jackson's interest in the Sony-ATV Publishing Trust and a partial security interest in the Los Olivos, California (Neverland) property. Additionally, as of March 31, 2007, the bank holds restricted cash in the approximate amount of $7,803,621. With other liabilities, the sum comes to $331,000,000."

Jackson's bottom line net worth was listed at $1,360,839,979. But the cash flow is pretty stunning.
 
So does this mean he wasn't bankrupt? I'm confused?

Also does MJ own the Enico home that Kathren lives in?
 
I never believe MJ would bankrupt. many years, stupid media always reported that MJ bankrupted. sometimes a person who is short of circulating cash doesn't mean he bankrupt. it is reported that MJ　had many real estates all over the world .
 
$1.3 B - $0.3 B = $1 B net

1 billion dollars far from being broke.

Can't spin that, can you?

But sure they can try. They will try. They are trying.
 
no dear UMANO reread the article :


Jackson's net worth was estimated at $1,360,839,979 on July 31, 2007. It's a fortune, to be sure ... but of that $1,150,000,000 is the Sony-ATV Publishing Trust (Beatles Catalog).


MJ's share in the cataloge alone is 1.5 billion + other assets - liabilities = 1.36 billion .

you call a man with net worth of 1.36 billions a bankrupt ?
 
I never believed Michael was broke because he had at least 3 more sources of different incomes, being MJJ Productions which owned the masters to all of albums and music from 1979-present. Plus MiJac Music Publising which owned his own songs and those by Sly & The Family Stone and other artists and also Sony/ATV. The media stupidly only ever wrote about Sony/ATV saying The Beatles was Michael's only source of income when Michael made a huge income from his own songs etc.
 
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What I don't understand is, if that is true, why did he have to use his stake in Sony/ATV as collateral to secure loans in the hundreds of millions of dollars. Supposedly he burned through $170 million in one 18 month period. Neverland was reportedly foreclosed. And numerous reports and sources (eg. Randy Phillips) said a major motivation for agreeing to do This Is It was financial. I'm not sure what the true facts are.
 
Agent M said:
What I don't understand is, if that is true, why did he have to use his stake in Sony/ATV as collateral to secure loans in the hundreds of millions of dollars. Supposedly he burned through $170 million in one 18 month period. Neverland was reportedly foreclosed. And numerous reports and sources (eg. Randy Phillips) said a major motivation for agreeing to do This Is It was financial. I'm not sure what the true facts are.
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Loans are not cheap, especially not the ones Michael was having which were considered to be "high risk" (don't ask me why...). So having some free cash flow helps a lot :) I guess that would be the main motivator for TII. So he could maybe buy the property in Las Vegas?
 
i don't see in that list his catalogue with his own song-yhis will worth billions too.Michael was rich but didn't have liquid money...
 
I never belived in that stories ,that he is broke..for god'sake he is michael jackson,I think that michael would never become broke,even if he wanted to be.lol
 
What I don't understand is, if that is true, why did he have to use his stake in Sony/ATV as collateral to secure loans in the hundreds of millions of dollars.
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becasue as the article says he had huge assets but not alot of cash. if u want cash u have to liquidate some of your assets ie sell. and of course he wasnt going to do that so to get cash to use in business deals etc which is was thought the first loans he took out in the early 00's were for u have to take out loans
 
nah, bullish...MJ was broke. Don't ya'll read the media reports. C'mon guys why would Fox lie to us all these years.:smilerolleyes: (I'm being sarcastic. Just to make that clear)

Stupid media. :angry:

Now its jus' a matter of why the Executors(and Dileo) still be saying that Mike wasn't worth all that much; walking around giving a messed up figure. McMillan has been going after that so good for him and representing the family.

What I'm trippin on is how after Mike himself said his worth in the Bashir interview the only thing peeps was saying was that he was crazy and delusional and out of touch with reality.

Always hating,damn.
 
Spider-Man said:
nah, bullish...MJ was broke. Don't ya'll read the media reports. C'mon guys why would Fox lie to us all these years.:smilerolleyes: (I'm being sarcastic. Just to make that clear)

Stupid media. :angry:

Now its jus' a matter of why the Executors(and Dileo) still be saying that Mike wasn't worth all that much; walking around giving a messed up figure. McMillan has been going after that so good for him and representing the family.

What I'm trippin on is how after Mike himself said his worth in the Bashir interview the only thing peeps was saying was that he was crazy and delusional and out of touch with reality.

Always hating,damn.
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I was just getting ready to post that..when MJ said he was worth up to a billion dollars in the bashir interview they said he was lying and didn't know how much he was really worth and CLEARLY he knew what he was talking about...uhhh im getting pissed all over again
 
According to this info from tmz, MJ's cash flow was a third of his assets. Over a half $billion, that's not chump change even in relation to his assets. If that's broke, them I'm
dead.

Did they get everything though?I bet he had things under an assumed name or something to that effect also because he was a very smart man. Also not included are the amounts he left in his will and trust.

I wonder where they got those exact numbers, is that under the freedom of information
thingy? Did they show hard copies of the info?
 
So, it was in 2007, after buying 2 huge music catalogs by Sony/ATV, his net has to be now at least 2 billion dollars....
 
What about the 5 million in cash that was returned to his estate by Dr tohme tohme after his death ?
over 5 million in cash and over a billion in assests does not a poor man make.

Elvis was poorer than michael when he died, now his estate is richer than ever but never hear the media talk about that.
 
SO..., ist he the first billionare as an African-American??? before Oprah!!!!???

I am sure he is/was...!!!
 
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The breakdown of his assets sounds about right. Michael could never really be broke because he had so many lucrative assets, the main one being the Sony/ATV catalog. But due to the $300+ loan that Michael took out, all the earnings of the catalog would have gone to paying back that loan ($50-60 million/year) for about 5 years which is what we have figured out here at the forum.

But Michael was still earning profits from Mijac, though not as much. Sales for his records weren't that hot in recent years. So I guess he (or someone else) decided that he needed to go back to work (i.e. tour) to make some cash because all the cash Michael was making was going to pay back the loans he took out plus interest. Plus, I don't exactly know what Michael's spending habits were towards the end of his life. IMO, I think he curbed his spending sprees. AEG was reportedly footing the bill for the Holmby Hills residence. Sooo, perhaps Michael wasn't really spending a lot of money but he was getting sued left and right. Maybe that's where all his money was going. . .:(

Member RSW22 very intelligently broke down Michae's net worth and his liabilities for us in this thread:

Katherine Jackson: The $500 Million Woman? Why Dileo underestimates MJs asset???

http://www.mjjcommunity.com/forum/showthread.php?t=73129


rsw22 said:
First of all, Michael's debt is not $400 million as Dileo exaggerates. It's $331 million

Michael had a debt of $90 million in 1999

He refinanced the loan and borrowed more for business, making it $200 million at that time.

He was going to release an album and do other projects which would pay off the debt and we know what Sony did

Then Myung Ho Lee began leaking info about Michael's $200million loan and Michael's team released a statement thinking it was Sony doing so

Then 2003 came around and to cope with the situation when Bank of America foreclosed on Michael in 2004 to try and help Sony seize the catalog, Michael went into this loop of finding other financiers, that drove the debt to $300 million because of more money he borrowed and higher interest rates

Michael has been paying off his debts
He had sorted out the Neverland ranch debt with the deal he did with Barrack, and had the option to buy the other share back with time on a downward profit scale for Barrack

He then sorted out some of the debt on Mijac and had recently returned some music to Mijac after paying off a $5 million loan.

The $331 debt was about to disolve away with the tours, and now that about $100 million has been rasied, that now means the debt is already going to below $300

In one or two years, Michael's debt will be cleared.

Meanwhile, SonyATV was valued at $1billion at the turn of the century
It has definitely appreciated in value in the last 9 years
Michael and Sony purchased 2 catalogs in 2007, one at $450 million and another at $200 million

That gives the catalog a minimum of $1.65 billion value
And that is without mentioning the songs and hits added to it by artists signed with Sony from 2000 to date, which pushes the value to a minimum of $2 billion

Michael in 2007 also bought back from Branca the 5% he had given him
So Michael owns 50% square

Michael's Mijac was valued at $180million in 1999 and this is 2009
Media has tried to misreport this as $75 million

And Mijac has greater value now that Michael has passed and will continue to rise with new music released which is added to the catalogue and brings income for many decades to come



THEREFORE

$1 billion minimum 50% SonyATV
Over $200 million Mijac
Michael's share of Neverland
Michael's stocks and shares
Michael's name value merchandising and new music release


And Londell is right that Michael's value is worth $2 billion

If SonyATV and Mijac are worth over $1.2 billion

Michael's merchandising, new music, film and the rest worth $800 million

And that's not even mentioning the potential of turning Neverland into a Graceland type



For Dileo to then claim $400 million of a falling debt that is now below $300 million is wrong

As Londell says, Don't buy it
Click to expand...
 
What I also don't get is that there was this youtube documentary (with the guy who went on a hungerstrike...?) where he said the ATV catalogue also included country&western which alone should bring Michael around 80 million a year! Go figure what that total amount would be...on a yearly basis...So what about all that money? That was going in his direction right?
 
elmari said:
Member RSW22 very intelligently broke down Michae's net worth and his liabilities for us in this thread:

Katherine Jackson: The $500 Million Woman? Why Dileo underestimates MJs asset???

http://www.mjjcommunity.com/forum/showthread.php?t=73129
Click to expand...

That was known for years..., some of MJ fans have known that... (as I have), but now, its publicly presented as something relevant ...:clapping::clapping::clapping:
 
Michael Jackson ranks up so much money, that he probably lost count of how much money he had cause he would rank in so much every year.

But if that were really true, I'd totally believe it.

This man is not broke. He has TOO many people who love him and would buy his merchandise.
 
it's simple:

the media just can't accept that a black man can make so damned much money and not die a broke, ignominious (check the "drug addict) death.
 
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