Michael Jackson Net Worth

Michael Jackson Net Worth: How Did Michael Jackson Family Use His Fortune?

One of the greatest pop artists ever was Michael Jackson, sometimes known as the King of Pop. Michael, both as a member of The Jackson 5 and later as a solo artist, set fire to concert halls all over the globe with his dynamic singing and groundbreaking choreography.

Michael Jackson Net Worth

To the tune of minus $500 million, Michael Jackson was an American singer, songwriter, actor, producer, and philanthropist before his untimely passing. In reality, Michael was $500 million in debt at the time of his death due to years of excessive spending and borrowing. His estate would go on to earn nearly $2 billion in the decade after his death. So far, he has sold over 750 million albums; of those, 35 million were sold in the year following his passing alone.

Between 1985 and 1995, Michael Jackson made between $50 and $100 million annually from his concerts, albums, endorsement deals, and merchandising. Michael, unfortunately, squandered his earnings as quickly as he had acquired them. His extravagant tastes required an annual budget of almost $50 million. He spent tens of millions on lawyers and sent over $12 million to his baby’s mom Debbie Rowe.

He also paid $20 million to settle a child abuse accusation. The purchase price of Neverland Ranch was $19.5 million, with annual maintenance costs of a staggering $10 million. He dropped $35 million transforming the complex into his personal amusement park. Then there were the diamond-studded gloves, the Bentleys, the antiques, the artwork, the exotic pets, and everything else. Jackson also reportedly spent $50–$100 million on music and film projects that were never released.

Michael Jackson is still one of the world’s most well-known and financially successful superstars, even after his untimely passing.

How Did Michael Jackson Make His Wealth?

When he was young, Michael Jackson started making money with his siblings in a band they dubbed The Jackson 5. They made a lot of money from songs like “ABC,” “I Want You Back,” and “I’ll Be There” throughout their career.

Although their music together won the hearts of millions of people all around the world, Michael was always destined to go solo. Earnings jumped into the millions once he broke through with his debut solo album, Off the Wall.

Michael maximized his earnings from albums, tours, endorsements, merchandising, and other ventures. Over the course of his musical career, he probably made over $4 billion.

How Did Michael Jackson Family Use His Fortune?

How Did Michael Jackson Family Use His Fortune

Despite Michael Jackson’s dedication to his music and his desire to live extravagantly, he made provisions for his family in the event of his untimely demise. His family has made it a priority since his unexpected death in 2009 to protect the legacy he left behind.

Jackson reportedly bequeathed 40% of his estate to his mother Katherine, 20% to various charities assisting children, and 40% to Jackson’s children. When his mother passed away, his children were to receive forty percent of his inheritance per his will.

In the wake of Michael Jackson’s untimely passing, his loved ones have done everything in their power to keep the King of Pop’s memory alive. Jackson’s loved ones and estate attorneys have been working hard to protect and expand his legacy.

Neverland Ranch, the house where Michael Jackson lived and hosted parties, became up for sale in 2015 and remained unsold for over five years. Billionaire Ron Burkle bought it for $22 million, a steep discount from the initial asking price of $100 million.

When Did Michael Jackson Get Married For The First Time?

In 1994, Michael Jackson was married to Lisa Marie Presley. Lisa Marie Presley, Elvis Presley’s only child, was Michael Jackson’s first wife. The two had tied the knot in 1994, but by 1996 they were officially separated. They were still on cordial terms, though.

Who Is Debbie Rowe And How Did She Meet Michael Jackson?

American nurse Debbie Rowe is widely recognized for her marriage to her two children with pop icon Michael Jackson.

Rowe first encountered Michael Jackson when she was working as a nurse at the dermatology office of Dr. Arnold Klein, where Jackson was receiving treatment for his vitiligo.

She claimed that Jackson was devastated by the thought that he would never have children after his split from Lisa Marie Presley.

Rowe, an avid follower of Jackson’s, offered to father children for the star. Lisa Marie revealed to Playboy that Rowe had a “thing for him” and wanted to have children with Jackson before they were even married.

A close friend of Rowe’s named Tanya Boyd claims that she became completely preoccupied with the performer. What she would say is: “They wouldn’t find him weird if they know him as well as I did. He’s weird and one of a kind.”

Rowe married and divorced instructor Richard Edelman, a guy she claimed to have felt “imprisoned” by, during the course of their several-year friendship.

Rowe and Jackson shared their stories of unhappiness in marriage with each other. Rowe, like Jackson’s first wife, stood by him during the time he was accused of sexually abusing children.

Jackson’s wife found out about his acquaintance with Rowe eventually, but she didn’t give it much thought. She claimed that Rowe was not glamorous enough to be her husband’s type.

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Michael Jackson And Debbie Rowe Were Married When?

Michael Jackson And Debbie Rowe Were Married When

They tied the knot at the Sheraton on the Park Hotel in Sydney, Australia, on November 13, 1996.

Jackson called Lisa Marie Presley the night before the wedding, and she gave her approval to him and Rowe.

The couple got hitched in the hotel’s ballroom in front of 15 close friends and family. The youngest best man was Jackson’s nephew, Anthony, age 8.

The public and media were largely critical of the union. In the eyes of some, Jackson was marrying someone he did not love, and Rowe was carrying a child who might not be Jackson’s.

When Did Michael Jackson And Debbie Rowe Divorce?

Rowe filed for divorce from Jackson on October 8, 1999.

Rowe reached a settlement worth roughly $10 million. In addition, Rowe granted Jackson full custody of her kids.

Rowe filed a petition for the re-establishment of visitation rights with her two children in 2006, and she and Jackson eventually came to an agreement on how to proceed. His mother Katherine became the legal guardian of her sons Michael and Paris, and their half-brother Prince Michael II, after his death in 2009.

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