Latest on MJJC

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

Poor Michael. Even in death people are still trying to disect every little piece of his mind that is really none of our business.

From what I am seeing most of his money was tied up in investments. You can't just go to the store and 'spend' your investments. That is where his problem was at. Yes, he did have the money, it was wrapped up in investments. Not in spendable cash sitting in his bank account.

He was 'worth' a TON of money, but he couldn't go and spend it all. He could have sold it, but then he would have blown through the money, and had nothing left to show for it really...
 
indranee said:
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.
Click to expand...

agree. to paraphrase Michael, if this world cannot change their differences and start loving one another, then we have no hope.
 
uhtheir point is that while he was rich in ASSETS he was cash poor. meaning he couldnt go to the bank and draw out money. he either had to sell, mortgage, or take out loans against his assets to get money
 
Oceangirl said:
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.


Jackson's bottom line net worth was listed at $1,360,839,979. But the cash flow is pretty stunning.
Click to expand...

I misread that number, my bad. But still how did they get that info????
 
Questions:

Since they were claiming MJ was so broke, who was paying for the house, utilities, drivers, bodyguards, cook, nannies, shopping sprees, ed hardy clothes, plane trips, getting his hair done, medication, the doctor, etc.
I saw somewhere that AEG was paying for the house, so does this mean that they were paying for everything in his life?

And how can he have $600K in the bank when grace said he didn't even have a bank account? What gives? I'm confused.
 
Soso Deaf said:
uhtheir point is that while he was rich in ASSETS he was cash poor. meaning he couldnt go to the bank and draw out money. he either had to sell, mortgage, or take out loans against his assets to get money
Click to expand...

Ohhh i get it yea that sound about right. Entertainment tonight was just talkin about it.
 
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.
Click to expand...

he was a business man who invested and bought more catalogs....

those catalogs aren't cheap

the last time Michael was poor was the day he left Gary.....

funny how TMZ only focuses on the amount in "a" bank account.... want to bet Michael had more than one or two bank accounts....

if he was so cash poor... as to having just over $700,000.. then who could that accountant firm he sued take out $2mil a month from one of his account to pay his bills...but they never paid the bills but pocketed the money....

if anyone else was worth over a billion $$$ the media would just stop at that.....and even dwelve into how much cash they have in the bank...........the double standards are so blatant...

Michael had cash in other places... otherwise instead of a 4-6 lawsuits every year...............there would have been 40-60
 
Last edited:
rasta that was a few yrs ago. he left the country and had an allotted amount of money for his bills to be paid and the accountant wiped the account clean.

this is assets. so unless he wanted to sell them or liquidate them, he could only function on what he had available.

this is bs tho cuz the atv made $75M alone per yr. and that was his cut
 
yea but they don't care. it's only now they will say he has money. before it used to just be the atv. now it's all this other stuff.
 
wasn't he a billionaire at 23 or something? or was that millionaire?

either way, the media has always had an unhealthy interest in demeaning this man. I want no part in it. it's all hogwash to me.
 
UMANO said:
$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.
Click to expand...

okay now isn't the name of the game called assets and liabilities.I learned that in accounting and Michael has plenty of assets and his estate is generating cash so Michael saw the land before he arrived and his estate and his children will be rich for a very very long time.
 
but then u have to decide, do u want to cash in these assets? liquidate them? will they stand to make more money over time or depreciate over time?
 
no way Michael wasn't not broke. He had so many assets. He just didn't have cash in his hands, ya know paper money. But for sure Michael was all set financially. Besides who needs to listen to news sources for the truth about Michael??? They ALWAYS lie.
 
xthunderx2 said:
no way Michael wasn't not broke. He had so many assets. He just didn't have cash in his hands, ya know paper money. But for sure Michael was all set financially. Besides who needs to listen to news sources for the truth about Michael??? They ALWAYS lie.
Click to expand...


I know right and the dollar is in decline anyway so what do most people do they put it in gold or silver or other commodities that increase in value. The problem is people see things in terms of paper money. If the dollar continues to decline paper money will be useless in the future, it will all be about gold,silver or something else and let's hope that day never comes. Michael was ten steps ahead of the game.
 
gilcrease11 said:
I know right and the dollar is in decline anyway so what do most people do they put it in gold or silver or other commodities that increase in value. The problem is people see things in terms of paper money. If the dollar continues to decline paper money will be useless in the future, it will all be about gold,silver or something else and let's hope that day never comes. Michael was ten steps ahead of the game.
Click to expand...



That's a positive way of looking at it. People ARE STILL trying to sue his estate, even that thriller girl. Hell, every louse is throwing their sock in the ring for a piece of the estate.
 
Probably a little off-topic, but I always find it interesting how the media always talks like the Sony/ATV catalog = the Beatles catalog (see very first post), even though the Beatles songs are only a small fraction of the catalog
 
This doesn't mean diddly squat to me. I would have preferred MJ to be alive...now that would have been worth something!
 
Rasta Pasta said:
if he was so cash poor... as to having just over $700,000.. then who could that accountant firm he sued take out $2mil a month from one of his account to pay his bills...but they never paid the bills but pocketed the money....
Click to expand...


WHOA!

That's just heartbreaking right there. Makes me so angry how much (and by everyone) MJ was being used and abused!

Hmm. . . I can kind of see the catch 22 of this whole thing. Tell me if I make sense here. By executors/Dileo undervaluing the estate and inflating the debt amount, maybe it's a strategy to try to prevent people in suing the estate for God knows what. . . I mean, it seems people will sue Michael for absolutely anything. But then everyone will think that Michael died broke and in debt, which just sounds horrible because he made so much money in his lifetime and gave so much money to charities.

IDK . .. what do you guys think?
 
Last edited:
MusicMan26 said:
Probably a little off-topic, but I always find it interesting how the media always talks like the Sony/ATV catalog = the Beatles catalog (see very first post), even though the Beatles songs are only a small fraction of the catalog
Click to expand...

Yes, I find that a bit strange too. No wonder people in general were so surprised by the recession. The media have a tendency to simplify, and to not tell the whole truth. They just take the option and the facts that most suit their story. If people had been told about the business empire Michael had build over the years, it would have been very hard for them to spin the "he is broke" story.
Michaels problem was the amount of ridiculus lawsuits, and the trial that almost broke him. He was not a stupid man when it comes to money. But in his case he was unable to create things that put new money in to the system, because they literally strangled his ability to focus on his real asset; his creativity. And that results in low cash flow.

The thing that strike me, is that Michael even when he was young made a different choice then most artists. He built an empire, while most artists are staying just artists.Instead of talking about him being broke, they should use him as an example of an artist that made some very remarkable finacial decisions while very young.
 
It seems as though the people that believe Dileo is up to no good, are wrong.
In undervaluing the estate, the estate will not be as liable with regard to tax. This is a good thing :) .
I'm sure Dileo is looking after MJ's interests.
A man could not work with MJ for many years and not be trusted.

 
He wasn't broke.

If he was broke, I would like to be broke too, if I could be it like him!
 
You must log in or register to reply here.
Back
Top