Michael Jackson was a songwriter, producer, American singer, actor, and philanthropist. So how much is Michael Jackson net worth? Well, Michael Jackson net worth is $500 million. Technically speaking, Jackson was in debt to about $500 million thanks to decades of over-borrowing and overspending.
In between 1985-1995, Michael easily earned around $50 to $100 million per year by record sales, endorsements, merchandise, and touring. Even after his death, Michael has lived as one of the most famous and successful celebrities in the world. To date, Michael has sold over 750 million albums, that includes 35 million that were sold in the year following his death.
Michael Jackson Net Worth at Death
Jackson’s most precious asset was the music catalog. While the copyright value of the songs was estimated at around $100 million. The crown jewel of MJ net worth was the portfolio of other singer’s songs, particularly those from The Beatles. Jackson’s first venture into having music rights started when Michael purchased the catalogs of Sly and the Family Stone in the early 1980s. Michael then bought the series of classic singles such as “When a Man Loves a Woman”, “Great Balls of Fire”, “Runaround Sue”, and “Shake Rattle Rattle and Roll” to name a few.
However, the greatest win came when Jackson bought The Beatles catalog ATV music for $47.5 million in November 1984. The Beatles catalog was eventually joined with Sony to form a 50/50 shared venture called ATV/Sony which today is estimated at around $2 billion.
Throughout his lifetime Michael made about $500 million from his concerts, videos, music, and endorsements; however, at the time of his death in 2009, Michael was actually $500 million in debt. He was left penniless after spending all of his money on the elaborately complex and luxurious lifestyle. Micheal spent between $20 to $50 million per year on the lifestyle alone and racked up huge unpaid bills with the agents, lawyers, and publicists. Here are some highlights:
- $17 million to buy the Neverland Ranch and $5 million in yearly maintenance costs
- $20 million to resolve the child molestation case.
- $65 million on different types of video projects, that includes the 35-minute movie “Ghosts” that Michael co-wrote with Stephen King.
- $12 million divorce agreement with Debbie Rowe.
- $5 million in yearly interest charges on his debts.
- Millions spent on antiques, Bentleys, clothes, art, diamond-encrusted gloves, chimpanzees, and other jewels.
Michael Jackson Debt
In order to finance his ongoing luxurious lifestyle, Michael took out the $380 million loan against the value of the music catalog. He was particularly naïve when it came to finances. Towards the end of Jackson’s life, he entered a tailspin of financial matters with hedge funds and banks. Before his death, Jackson had spent through the whole $380 million loans and had little hope of making the interest fees, let alone paying back the principal amount. This loan is the only reason Jackson was forced to comeback journey “This Is It” which possibly was the reason for his death.
The Jackson movie has made over $500 million. After the success of the film and the record contract, several other endorsers came inviting. Pepsi struck the deal to licenses Jackson’s picture. Cirque du Solei has created two Las Vegas shows around his image and music.
Moreover, Michael left thousands of memorabilia and personal items which are being stored in three huge warehouses in Southern California. These items are to be stored until all three of the kids reach the age of 18, at which they can choose which item they wish to keep and what items can be auctioned.
Read More: Top Richest Singers of the World
Michael Jackson Net Worth Post Death
Since he died in 2009, his property has brought in over $700 million. His agents have simply paid back Michael’s loan from Sony and secured the future of Michael’s billion-dollar music catalog. Earnings milestones:
- 2018: $400 million
- 2017: $75 million
- 2016: $825 million
- 2015: $115 million
Favorite Quotes Of Michael Jackson
“ If you wanna make the world a better place, take a look at yourself, then make that change.” – Michael Jackson
“Because I wanted to have a place that I could create everything that I that I never had as a child. So, you see rides. You see animals. There’s a movie theater.” – Michael Jackson
“You know, let’s put it this way, if all the people in Hollywood who have had plastic surgery, if they went on vacation, there wouldn’t be a person left in town.” – Michael Jackson
“If you enter this world knowing you are loved and you leave this world knowing the same, then everything that happens in between can be dealt with.” – Michael Jackson
|Michael Jackson Net Worth||$500 Million|
|Date of Birth:||August 29, 1958 – June 25, 2009|
|Michael Jackson age||50 Years|
|Michael Jackson Height:||5ft 8in(1.75m)|
|Profession:||Musician, Choreographer, Record producer, Entertainer, Singer-songwriter, Actor, Businessperson, Film Producer, Dancer,|
|Nationality:||United States of America|