RIP Michael Jackson.
Now, what can be learned about his finances?
He spent a lot of money frivolously, but he made a lot too. The purchase of his Neverland Ranch and back catalogue of ATV songs were done in grand folly, but they paid off bigtime anyway.
The best thing he ever did was buying the back catalogue to songs such as the Beatles (ATV). An excellent investment, of which his share is worth $750m, and he paid $45m for it. He did waste money, but he was still earning well over £20m per year at the time of his death. He gave a lot of money to charity.
His personal doctor, Dr Conrad Murray had massive debts, which is amazing since doctors are amongst the highest paid professionals you will ever find. In spite of this, he actually filed for bankruptcy in 1992. He owed well over $400,000 and was struggling to pay it back. This proves you can never really trust anyone elses financial acumen, no matter how succesful they seem, until you have researched their background fully.
In conclusion, MJ was a thrilling entertainer, but his finances were off the wall.
Now, what can be learned about his finances?
He spent a lot of money frivolously, but he made a lot too. The purchase of his Neverland Ranch and back catalogue of ATV songs were done in grand folly, but they paid off bigtime anyway.
The best thing he ever did was buying the back catalogue to songs such as the Beatles (ATV). An excellent investment, of which his share is worth $750m, and he paid $45m for it. He did waste money, but he was still earning well over £20m per year at the time of his death. He gave a lot of money to charity.
His personal doctor, Dr Conrad Murray had massive debts, which is amazing since doctors are amongst the highest paid professionals you will ever find. In spite of this, he actually filed for bankruptcy in 1992. He owed well over $400,000 and was struggling to pay it back. This proves you can never really trust anyone elses financial acumen, no matter how succesful they seem, until you have researched their background fully.
In conclusion, MJ was a thrilling entertainer, but his finances were off the wall.
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