Jackson's relatives are raking in cash from projects like Michael Jackson: ONE, a Cirque du Soleil show that's been running in Las Vegas since 2013. Trae Patton/NBC-NBCU Photo Bank/Getty Images How Does Michael Jackson's Estate Make Money?įorbes named Jackson the highest-earning dead celebrity in 2010, 2011, 2013, 2014, 2015, 2016, 20 (Elizabeth Taylor won in 2012). He was an individual that had been overindulged by those that represented him or worked for him for all of his life." "I think that Michael never had any concept of fiscal responsibility, or logical fiscal responsibility. "Millions of dollars annually were spent on plane charters, purchases of antiques and paintings," Alvin Malnik, once a financial adviser to Jackson, told the New York Times in 2006. A banker would later testify he was in "financial crisis." When he died, Michael Jackson's net worth was $236 million, according to the Associated Press. A 13-time Grammy Award winner, he was named the highest-paid entertainer in the world twice.īut his lifestyle led him to take out several loans, and from there he slid into financial ruin. He even bought the Beatles catalog.Īll of that translated to profit: Forbes reports that Jackson earned about $2 billion before his death (when adjusted for inflation). He had a clothing line and an autobiography.
WHAT YEAR DID MICHAEL JACKSON BAD ALBUM COME OUT MOVIE
Jackson sold a reported 750 million albums, purchased a $19.5 million ranch and once starred in a movie that cost over $1.7 million per minute to make. Here's everything you need to know about how they did it (and what could come next for them). Over the past decade, Forbes reports, Jackson's relatives have raked in more than $2 billion - as much money as he earned while he was alive. Anything having to do with the Jackson estate inherently involves millions of dollars because of the value of the underlying assets." "It will absolutely have a negative impact I just can't tell you how much. David, a lawyer who worked on Tupac Shakur's estate.
"In our world today, there is going to be an effect where there is a direct relation between the stream of income and people’s emotional connection," says Donald N.
Now, the estate's bottom line could take a hit. The allegations are already hurting the musician's reputation: fashion brand Louis Vuitton scrapped a Jackson-inspired collection, and radio stations in Canada, Australia and New Zealand have stopped playing his songs. Jackson is back in the spotlight due to Leaving Neverland, an HBO production that accuses him of sexually abusing Wade Robson and James Safechuck as boys. Ten years later, the King of Pop's estate is thriving - but a new documentary may threaten its continued success. When Michael Jackson died in 2009, he was more than $400 million in debt.
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