Earnings and Wealth
It's estimated that Michael Jackson earned about $750 million in his lifetime. In the last several decades of his life, sales of his recordings through Sony's music unit have earned him an estimated $300 million in royalties. He may have also earned an additional $400 million from concerts, music publishing (including his share of the Beatles catalog) endorsements, merchandising and music videos. Estimating how much of these earnings Jackson was able to personally pocket is difficult because one has to account for taxes, recording costs and production costs.
There have also been several detailed estimates of Jackson's net worth and these range from negative $285 million to positive $350 million.
| Michael Jackson's estimated net-worth over the years | ||||
| Year | Assets | Debt | Net worth | Source |
| 2002 | $130 million | $415 million | -$285 million | Forensic accountant in 2005 recalling Jackson's 2002 balance sheet under oath |
| 2003 | $550 million ($100 million in properties including Neverland ranch; Encino and Las Vegas homes and other properties and $450 million in music holdings including 50% stake in Sony ATV and other music publishing) | $200 million | $350 million | Forbes magazine, Nov 21, 2003 |
| 2007 | $567.6 million (includes 50% share of the Sony/ATV catalog valued at $390.6 million, Neverland valued at $33 million, cars, antiques, collectibles and other property valued at $20 million, and $668,215 in cash) | $331 million | $236 million | Michael Jackson's March 2007 statement of financial condition prepared by Washington-based accounting firm Thompson, Cobb, Bazilio & Associates; described by CBS News as the clearest account yet of Jackson's finances. |
Read more about this topic: MJJ Productions
Famous quotes containing the words earnings and/or wealth:
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