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MaryKTopic starter

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Michael Jackson's estate has made a fortune since the singer's death -- so much in fact ... it's nearly paid off $500 million in debt the King of Pop left behind when he died.

Executors for the Estate filed legal docs -- obtained by TMZ -- which show the Estate has generated gross earnings exceeding $475 million as of the end of May.

According to the docs, all of MJ's debts have been paid, with the exception of a BIG debt involving Michael's publishing catalog ... and executors expect that will be fully paid off by the end of the year.

It's not only good news for the Estate ... it's great news for the small army of lawyers who have been handling all the legal and business affairs.  Their fees -- from May, 2010 through November, 2011 -- exceeded $13.6 MILLION!

Two other things ... Katherine is asking for an additional $34,700 a month to pay for lawyers and accountants, and another $205,041 to cover lawyer and accountant fees from 2011.

Final thing --There are still some unresolved creditors' claims and several lawsuits to clear up.

All in all ... not a bad turnaround.

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You and I were never separate

It's just an illusion

Wrought by the magical lens of Perception



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sweetsunsetwithMJ

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Well this finally confirms that Michael is worth more dead than alive, well done Michael you are a clever man.
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I WANNA BE WHERE YOU ARE!!

Like the choice of picture,"almost ready to take of his glasses"

L.L.R

Shy :)
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“In a world filled with hate, we must still dare to hope. In a world filled with anger, we must still dare to comfort. In a world filled with despair, we must still dare to dream. And in a world filled with distrust, we must still dare to believe.”
― Michael Jackson

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paula-c

Do not believe in the supposed ruin of Michael
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 :icon_eek: Is that a new picture.  I don’t remember seeing it before.  This article kinda gives a new meaning to we’ve only got four years.  In four years seems all debts will be cleared. 
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"Don't stop this child, He's the father of man
Don't cross his way, He's part of the plan
I am that child, but so are you
You've just forgotten, Just lost the clue.”

MJ "Magical Child"
Still Rocking my World…
   and leaving me Speechless!

“True goodbyes are the ones never said

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Andrea

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Do not believe in the supposed ruin of Michael

Me either.



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Michael Jackson's estate has made a fortune since the singer's death -- so much in fact ... it's nearly paid off $500 million in debt the King of Pop left behind when he died.

Executors for the Estate filed legal docs -- obtained by TMZ -- which show the Estate has generated gross earnings exceeding $475 million as of the end of May.

According to the docs, all of MJ's debts have been paid, with the exception of a BIG debt involving Michael's publishing catalog ... and executors expect that will be fully paid off by the end of the year.

It's not only good news for the Estate ... it's great news for the small army of lawyers who have been handling all the legal and business affairs.  Their fees -- from May, 2010 through November, 2011 -- exceeded $13.6 MILLION!

Two other things ... Katherine is asking for an additional $34,700 a month to pay for lawyers and accountants, and another $205,041 to cover lawyer and accountant fees from 2011.

Final thing --There are still some unresolved creditors' claims and several lawsuits to clear up.

All in all ... not a bad turnaround.

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I can believe that MJ was "in debt" - on paper - but I think in reality his assets (and many we don't know about) far far far outweigh the numbers-on-paper debt.  There was definite strategic planning to this, like it provides a loophole or something but there has to be legal reasons for doing it this way.




And now I will pick apart TMZ's article for fun.  :icon_geek:

"MICHAEL JACKSON
Estate Clears MJ's Massive
Debt ... Almost"                           


"Michael Jackson's estate has made a fortune ...  "   :icon_e_ugeek:

"Executors for the Estate filed legal docs -- obtained by TMZ" (natch)   :D

" ... by the end of the year. "   :icon_bounce:

" ... it's great news for the small army of lawyers" love   :beerchug:

" All in all ... not a bad turnaround. "   :icon_cool:

 :fresse:
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RK

I like very much that interpretation Andrea.  :icon_razz:
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Adi

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I can believe that MJ was "in debt" - on paper - but I think in reality his assets (and many we don't know about) far far far outweigh the numbers-on-paper debt.  There was definite strategic planning to this, like it provides a loophole or something but there has to be legal reasons for doing it this way.

And now I will pick apart TMZ's article for fun.  :icon_geek:

"MICHAEL JACKSON
Estate Clears MJ's Massive
Debt ... Almost"                           


"Michael Jackson's estate has made a fortune ...  "   :icon_e_ugeek:

"Executors for the Estate filed legal docs -- obtained by TMZ" (natch)   :D

" ... by the end of the year. "   :icon_bounce:

" ... it's great news for the small army of lawyers" love   :beerchug:

" All in all ... not a bad turnaround. "   :icon_cool:

 :fresse:

I  like your interpretation too Andrea....

Interesting the part I have bolded above, how they link the turnaround to Bad...... BAD25 doco coming out soon and the release of the Wembley concert etc...again going back to the thought that BAD era was when the hoax started being planned.

Also especially like  "the small army of lawyers" love    :icon_cool:
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bec

"...Almost"...

that would be nice to think.

Ps. This pic is from the set where it looks like MJ is wearing a mask, because his shirt is a pale flesh color and the way his collar lays it makes an optical illusion of a mask's bottom edge peaking out. Maybe someone else knows the pic I'm talking about, from this same day/event.
Last Edit: July 13, 2012, 11:27:57 PM by bec
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Are you entertained?

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MJonmind

Bec, I remember discussion on a similar pic like that.

I found this video of Gerald Posner to be interesting. He worked for the Daily Beast and interviewed Murray in the docu.
He said some horrible things about Michael, but what was interesting concerning MJ's finances was that Posner said MJ had his lawyers before the trial, split MJ's money into various hidden assets, so that it would look like he had less money, in case there were lawsuits after the trial. The video maker said it was actually that MJ was getting ready for the hoax 'bankrupt' scenario!!
MJ, you are one crazy smart guy!!  Watch at 5:33.

[youtube]http://www.youtube.com/watch?v=j1lvOcVccfU&feature=player_embedded[/youtube]
Last Edit: July 14, 2012, 01:17:12 AM by MJonmind
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Thank you for sharing this with us.  I also don't buy that MJ had no money or was deeply in debt. Many around me think I'm delusional because the media has been pushing a broken man who was deeply in debt. I think it's been a "front" all along and MJonmind's post gives strong confirmation to that.

Andrea - like your post too. :)

Michael - great job. Nobody deserves this more than you. You've worked hard for your money and nobody should have the right to steal it from you through lies and petty lawsuits.

Blessings
Last Edit: July 14, 2012, 12:01:23 PM by voiceforthesilent
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I'm proud to be a child of God and a member of MJ's Army of L.O.V.E.
 
"Press coverage of my life is like [watching] a fictitious movie...like watching science fiction. It's not true." ~Michael Jackson (2005)

"You should not believe everything you read. You are missing the most important revelations". Craig Harvey 3-15-2012

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Grace

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it's nearly paid off $500 million in debt the King of Pop left behind when he died.

Executors for the Estate filed legal docs -- obtained by TMZ -- which show the Estate has generated gross earnings exceeding $475 million as of the end of May.

According to the docs, all of MJ's debts have been paid, with the exception of a BIG debt involving Michael's publishing catalog ... and executors expect that will be fully paid off by the end of the year.

Quote
  • Debt is that which is ; usually referencing assets owed, but the term can also cover moral obligations and other interactions not requiring money. In the case of assets, debt is a means of using future purchasing power in the present before a summation has been earned. ...
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25 million debt remaining and every other obligation including the catalogue will be paid off by the end of the year.


With a little help from your friends.
Go Michael!
Waiting for the music to finally come home again.

Last Edit: July 14, 2012, 02:31:27 AM by Grace
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Create your day. Create the most astounding year of your life. Be the change you want to see in the world! L.O.V.E.
***********************************************************************************************
"I am tired, I am really tired of manipulation." Michael Jackson, Harlem, New York, NY, July 6, 2002
***********************************************************************************************
******* Let's tear the walls in the brains of this world down.*******

Time to BE.

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MJonmind

Quote
Lifetime earnings

Jackson has twice been named as the "#1 Entertainer of the Year" on the Forbes list based on his earnings.[368] However, Jackson has not appeared on the Forbes 400. When Forbes editor Peter Newcomb was asked in 2003 to explain Jackson’s absence from their lists he replied “MJ owes $250 to $300 million to a consortium of banks”.[369] Forbes never included Jackson in the list as they only calculate income from musical related moneys and companies publicly recognized for employers in the case of artists. Forbes considered Jackson as an artist and not as a businessman, all the income that is published by Forbes on Michael Jackson are about music rather than contracts, businesses (except Sony/ATV Music Publishing preferentially Forbes value is $5 billion, of which $1.3 billion came from Jackson's own sales as an artist). Jackson's assets are worth around $4 to $6 billion relating to his businesses such as Sony/ATV Music Publishing, Jackson International LLC, The Michael Jackson Company LLC, Sycamore Valley Ranch Company LLC, MJJ Music while naming only a few. Jackson has over $200 million related to properties in Los Angeles, Las Vegas, London and other countries. It is yet unknown of the stake Jackson owns of Neverland Valley Ranch after the year 2008, when it became Sycamore Company LLC (a joint venture between Colony Capital LLC and The Michael Jackson Company). His Neverland Valley Ranch has been valued at $100 to $150 million.[370]

In the last 25 years of Jackson's lifetime, it is estimated he made more than $300 million from his own music royalties and another $400 million from concerts. In the 1980s, Jackson became the biggest musical act in the world with Thriller alone making him $125 million. In 2002, Jackson stated he had made Sony several billion dollars throughout his career.[371] Some analysts have speculated that his music catalog holdings could be worth billions of dollars.[99][372] This speculation however is contradicted by financial documents obtained by the Associated Press, which showed that as of March 31, 2007, Jackson's 50 percent stake in the Sony/ATV Music Publishing catalog (his most prized asset) was worth $390.6 million and Michael Jackson's net worth was $236 million.[373] This value for Jackson's Sony/ATV Music Publishing catalog is highly false. The catalog owns and controls many different record companies and has rights to more than 500,000 songs, including songs by The Beatles, Elvis Presley, Eminem, Akon, Shakira, Bjork, Boyz II Men and Lady Gaga, among hundreds of others. The company is one of the largest music publishers in the world and is believed to generate up to $2.5 billion a year; The Beatles' hits alone bring in $30 million to $45 million a year. Jackson's other publishing firm, Mijac, which publishes songs written by Jackson himself and which used to be administered by competitor Warner/Chappell Music, is valued to be worth at least $450 million. Since 2011 Mijac is administered by Sony/ATV Music Publishing. It is reported that if Sony/ATV Music Publishing, acquires EMI Music Publishing its value would increase to $11 billion.[374][375][376] Billboard has estimated that Jackson has generated at least $1 billion in revenue in the year following his death.[377]
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I think there's a LOT more we're not told. I think it all boils down to what you believe about Michael, as to which story you buy--weak or powerful.  We know which is correct--right!! ;D  How can so many of MJ's long time fans believe he is so weak(dead)?
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Well this finally confirms that Michael is worth more dead than alive, well done Michael you are a clever man.

but if a BAM makes sales / the product of MJ sky rocket thru the roof even further, then that might turn this phrase on its head

michael is worth more alive than a legend is when he is dead.... or such....


LOL...


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People laugh when I explain. And though they may laugh, that doesn't change the fact that it's still the truth.


Michael is Alive
The end of evil is nigh
Trust in God
The righteous will prevail

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2good2btrue

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Michael Jackson's catalogue is worth $250 million alone....I wonder what the unsettled law suits are???  So Katherine still needs regular funding for payment to the lawyers to fight these lawsuits..

At least, that's how I read it..

Call me crazy, but it looks like some writing on his lips again.............


And there seems to be no wig attachment in this pic.....usually, when you zoom in, you can see the wig hairline glued onto his forehead..another thing that is odd, is that his eyebrows are real hair...including even some white hairs...

I thought he had them tattooed on...Hmmmm
Last Edit: July 14, 2012, 08:57:59 AM by 2good2btrue
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