After all the stories we've heard about Michael Jackson being broke, I'd bet that 90% of the public actually believes it. Yet recent research has us realizing that Michael was far from broke.
In August of 2009 an Estate Planning attorney wrote an article stating just how broke Michael was. He stated "financial analysts have calculated the Michael Jackson's assets were worth at least $200 million more than his debts."
The music publishing catalog that included the 250 Beatles songs just sold by the Estate of Michael Jackson, John Branca and John McClain for a mere $750 MILLION, was estimated to be worth a whopping value of between $1.5 BILLION and $2 BILLION seven years ago. One could only speculate what it might actually be worth today. On the LOW side it looks as if that catalog went to Sony for ATLEAST $1 BILLION UNDER value.
source: http://mckeeoffice.com/blog2/2009/08/15/michael-jackson-is-it-time-to-make-that-change/
Further headlines like this: "Michael Jackson's family wins millions in settlement with insurance company after years-long battle" would have you believe that the money awarded in the insurance settlement with Lloyds went to the children and their share of the Estate. Not so fast. Michael Jackson had a life insurance trust in place as well. That means any death benefits paid to the trust would not be included with the estate of the insured.
Looks like John Branca and John McClain have not been exactly honest in their business dealings for the children of Michael Jackson. Perhaps it's time the kids told the Estate to "Beat It".
In August of 2009 an Estate Planning attorney wrote an article stating just how broke Michael was. He stated "financial analysts have calculated the Michael Jackson's assets were worth at least $200 million more than his debts."
The music publishing catalog that included the 250 Beatles songs just sold by the Estate of Michael Jackson, John Branca and John McClain for a mere $750 MILLION, was estimated to be worth a whopping value of between $1.5 BILLION and $2 BILLION seven years ago. One could only speculate what it might actually be worth today. On the LOW side it looks as if that catalog went to Sony for ATLEAST $1 BILLION UNDER value.
source: http://mckeeoffice.com/blog2/2009/08/15/michael-jackson-is-it-time-to-make-that-change/
Further headlines like this: "Michael Jackson's family wins millions in settlement with insurance company after years-long battle" would have you believe that the money awarded in the insurance settlement with Lloyds went to the children and their share of the Estate. Not so fast. Michael Jackson had a life insurance trust in place as well. That means any death benefits paid to the trust would not be included with the estate of the insured.
Looks like John Branca and John McClain have not been exactly honest in their business dealings for the children of Michael Jackson. Perhaps it's time the kids told the Estate to "Beat It".
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