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TUESDAY 8.2.16
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The Sony/ATV/Michael Jackson deal approval makes me wonder, how big is too big in music?
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Prior to his death Jackson was victim of gross misreporting with many press outlets continually reporting that he was ‘broke’ and providing HUGE debt figures. They widely ignored Jackson’s biggest asset – Sony/ATV – and refused to acknowledge the effect it had on his net wealth. When he died it was confirmed his debt was around $400million debt, which IS a huge amount, but it was also estimated that his share in Sony/ATV at that time was worth around $1billion, but because of his loans and debts through Sony/ATV, the price was cut.
Either way, it’s clear that Jackson net wealth, not taking into account his other music catalogue and assets, was in excess of $300million when he died. I wish I was that broke!
MJ WAS NEVER BROKE, it was just a tabloid media agenda, he was cash poor, but anytime MJ would have wanted cash money, he could ask $1-2-3M for a night and do a gig. (Prince of Brunei paid him $5M for being a birthday party guest)
MJ had a monstrous financial potential, and This Is It just proved that.
After his death the Estate has made $1.5billion….