[jammixmaster]

I am a huge MJ fan and I've been getting a lot of questions as to where his finances currently stand, so I'll answer my own question to give people a better understanding of his current financial standing.

[jammixmaster]

No, Michael Jackson is not broke. Forbes.com estimates his net worth at around $350 million, but this isn't the full scoop on his net worth. Michael is currently between $200 and $270 milllion in debt. In liquid cash, he has around $50 million to spend. He also has around $650 million in real estate assets, he also hold the Beatles catalog which is estimated at between $500 million to $1 billion (but we'll put it at $500 million). Not only this, he holds the rights to his own music as well as a few others, which is worth around $150 million. He has also put out a new album (new depending on when you read this) called "Thriller 25" which is currently the NO.2 album in the country (again, depending on when you read this). So that brings in some income. So if you add all of this together and subrtact his debt, his total net worth is around $1.3 billion. So he is not broke. But this raises another question. If he has $1.3 billion in the bank, why can't he pay off his debt? Simply because the $1.3 billion isn't liquid cash. Its all assets, he'll only get that money if he sells them off. So why doesn't he sell them off? He likes the positive cash flow and most of his assets are the leverage for all of his loans. So there you have it, the King of Pop is no where near broke or bankrupt. If he was, how did he move into a private island worth around $35 million when he moved to Bahrain for a few months, next to the Kings own personal island I might add. He also had plans to move into the most expensive home for sale in southern Florida, but declined saying it was too small. Does this sound like someone who is near broke? Not to me

[Mr_am]

I don't know.

[jammixmaster]

I also forgot to mention that in mid 2007 he purchased Eminems music catalog for $110 million (which is funny because Eminem was the only artist that I know of that openly hates Michael and doesn't list him as an influence). The purchase gives Michael the rights to all of Eminems music under Shady Records, including 50 cent's music that was released under that label. So that too brings in about $10 million a year for the King. Someone who is bankrupt could not afford a record label catalog for $110 million. Good job Mike!

[slowandeasy]

No offense, but with everything going on in this upset down world right now who cares if Michael Jackson is broke or not? Duh!

[jammixmaster]

Um yeah, I posted that way back in February, before the Economic decline that we see today in America. So before you go off running your mouth you should get your facts straight slowandeasy. And another thing... if you don't care if Michael Jackson is broke or not why the hell did you even click on the post? If you don't care then don't look. It's that simple.

[slowandeasy]

No I don't care, just stating an opinion that's all.

[jammixmaster]

I see