Michael Jackson Estate Clears MJ's Massive Debt ... Almost

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Offline MaryK

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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.

Michael Jackson Estate Clears MJ's MASSIVE Debt ... Almost | TMZ.com

You and I were never separate

It's just an illusion

Wrought by the magical lens of Perception



Offline sweetsunsetwithMJ

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

Offline ShyBleuEyes

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

L.L.R

Shy :)
“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


Offline hesouttamylife

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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. 
"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

Offline Andrea

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Do not believe in the supposed ruin of Michael

Me either.





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.

Michael Jackson Estate Clears MJ's MASSIVE Debt ... Almost | TMZ.com


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:

Offline RK

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I like very much that interpretation Andrea.  :icon_razz:

Offline 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:

Offline bec

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"...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 14, 2012, 12:27:57 AM by bec »
Are you entertained?

Offline MJonmind

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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, 02:17:12 AM by MJonmind »

Offline voiceforthesilent

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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, 01:01:23 PM by voiceforthesilent »
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

Offline 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. ...
en.wikipedia.org/wiki/Debt



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, 03:31:27 AM by Grace »
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
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******* Let's tear the walls in the brains of this world down.*******

Time to BE.

Offline MJonmind

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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]
http://en.wikipedia.org/wiki/Michael_jackson

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)?

Offline Australian MJ BeLIEver

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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...


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

Offline 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, 09:57:59 AM by 2good2btrue »

Offline hesouttamylife

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I see this as cleaning all the cobwebs so that when Michael returns there will be no obstacles in his way.  He is free to create as he pleases without any fear of retribution from any hangers ons.  He can do what he pleases, go where he pleases with whom ever he chooses, and there are no barriers to stop him.  No one can say you can’t do it this way or you can’t do it that way.  No one can say if you do this or that we will come after you.  He will be FREE!  No handlers. No skeletons rushing out the closet to claim what is his.  I see it as a message to the powers that be, the media, the government, the leeches that Michael Jackson is scott free from their vices and when he returns their grips on him will be loosed.  He’s coming back a free man, a new man.  So get the fuck out the way and let him through.  His name has been cleared and the media is seeing him through different eyes.  His debts have been dissolved and he owes nobody a damn thing.  Many of His haters have become informed and they no longer listen to the tabloid trash.  His death has been a test and he passed with flying colors breaking no laws. Love has blossomed and people love him for the human being they have found him to be through time, patience and knowledge, the only composites it took to make that change. 

Michael is coming back and there is not one stone left unturned that can crush him.  He is the king  :beerchug:He did it his way, legally, and I say well done.  :th_bravo:
"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

Offline MaryK

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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

Absolutely agree.
I was thinking the same.
Anyone trying to figure out what could possibly be written on his lips? I bet somebody will.... :icon_mrgreen:
You and I were never separate

It's just an illusion

Wrought by the magical lens of Perception



Offline sweetsunsetwithMJ

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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

Absolutely agree.
I was thinking the same.
Anyone trying to figure out what could possibly be written on his lips? I bet somebody will.... :icon_mrgreen:

@2good2btrue....Michael has a more natural beauty than what the media has made us think, no tattooed eyebrows, no bald, no so many surgery but make up and so on...

@MaryK.... BAM's day maybe?
« Last Edit: July 14, 2012, 11:48:47 AM by sweetsunsetwithMJ »
I WANNA BE WHERE YOU ARE!!

Offline SimPattyK

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[...]
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:
LOVE this !! ^^
:icon_bounce:   Mike is ALMOST reaady to take his "glasses" off ? youpiii



Mike a broke man  and in debts?!??  :thjajaja121:  nevaaaaaa !

He's a genius! he could teach at the Finances & Banks Faculty !!

WATCH this:

[youtube]http://www.youtube.com/watch?v=VXg3OmU1LvM&list=PL49B5ED24441F6032&index=26&feature=plpp_video[/youtube]

[youtube]http://www.youtube.com/watch?v=JL6RG1SeliU&list=PL49B5ED24441F6032&index=27&feature=plpp_video[/youtube]




I see this as cleaning all the cobwebs so that when Michael returns there will be no obstacles in his way.  He is free to create as he pleases without any fear of retribution from any hangers ons.  He can do what he pleases, go where he pleases with whom ever he chooses, and there are no barriers to stop him.  No one can say you can’t do it this way or you can’t do it that way.  No one can say if you do this or that we will come after you.  He will be FREE!  No handlers. No skeletons rushing out the closet to claim what is his.  I see it as a message to the powers that be, the media, the government, the leeches that Michael Jackson is scott free from their vices and when he returns their grips on him will be loosed.  He’s coming back a free man, a new man.  So get the fuck out the way and let him through.  His name has been cleared and the media is seeing him through different eyes.  His debts have been dissolved and he owes nobody a damn thing.  Many of His haters have become informed and they no longer listen to the tabloid trash.  His death has been a test and he passed with flying colors breaking no laws. Love has blossomed and people love him for the human being they have found him to be through time, patience and knowledge, the only composites it took to make that change. 

Michael is coming back and there is not one stone left unturned that can crush him.  He is the king  :beerchug:He did it his way, legally, and I say well done.  :th_bravo:

 I agree!!
« Last Edit: July 14, 2012, 01:00:30 PM by SimPattyK »

Offline everlastinglove_MJ

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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:

Nicely put, Andrea! :icon_razz:

And I do not believe these stories that Michael was in dept or almost bankrupt either.

Michael Jackson Estate Worth -- Made $310 MILLION Since Michael Died | TMZ.com
Michael Jackson Estate -- Huge Financial Gains Revealed | TMZ.com :icon_rolleyes:

L.O.V.E.


It's all for L.O.V.E.

Offline voiceforthesilent

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Sim - thank you for sharing those videos...for whatever reason I can't view the second one but the first one was great.

There is another video out there that talks about Michael's worth and it's phenomenal. It talks about Michael's ownership of high end resorts in Africa too. I would be willing to bet that Michael owns more property and has vested interests around the world than anybody every thought possible. What has always stumped me is why he would stay in motels, etc., when he had property around the world?

He's far more private about his business and while the media was so intent on exploiting his Beatles catalog and Neverland he was quietly diversifying. JMO. Maybe I'm too hopeful but I have never seen Michael a poor and desperate man.

Regarding his lips - I see letters too but can't make them out. To me it two of them looks like an L and an R.

That article is interesting because of the "7"s. Maybe I'm not counting this correctly because I still don't quite understand it but here goes and someone can correct me kindly.
(34, 700) 3+4+7=14 (7+7)
205,041 (2+5+4+1=12) (1+2=3)
2011 (2+1+1=4)
777  :smiley-vault-misc-150:

hesouttamylife - great post - thanks for sharing :)

Blessings

Yay - the smileyes came back and I didn't change any settings on my computer. Strange. I'm not big on smilieys but sometimes they are good for making a statement  :bowdown:
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

Offline marumjj

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Great! Pay bills, his name is clean, everyone is happy. Come on Michael, we just need a big BAM! I have Chinese eyes looking at your lips     :LolLolLolLol:

Offline hesouttamylife

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People who know me from early hoax days know that I have had my concerns about Team Branca & McClain.  So for that reason, I have watched them carefully.  Every milestone they have made, they have kept the world informed.  If they were not on the up and up there would have been no reason to do that.  They didn’t have to.  In doing that, I have become somewhat convinced if not entirely that Michael did purposefully re-hire Branca nearing hoax date because of his track record with him.  Apparently Branca is no nonsense and he knows his stuff.   And he is revealing Michael’s empire being reconstructed piece by piece right in front of our eyes.  No barriers.  I do have a strong feeling that once Michael’s books are clear and he is totally debt free, Michael himself will start removing the masks and revealing himself to our eyes.  What a master he is!  He would have to have thought this out start to finish perfectly in order for it to work in the time he allotted.  Genuis! He is smarter than the average bear hands down  :icon_e_ugeek:
"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

Offline blankie

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Do not believe in the supposed ruin of Michael

Me too  :icon_razz:
LOVE YOU MORE

Offline MissG

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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.

...that will be fully paid off by the end of the year..."

What if...by the end of the year all is cleared up and...and...BAM?



("Minkin güerveeeee")
Michael pls come back


"Why a four-year-old child could understand this hoax. Run out and find me a four-year-old child. I can't make head nor tail out of it"

 

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