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06-26-2009, 11:21 AM
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Senior Member
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Join Date: Jun 2007
Location: Rockland County New York
2,989 posts, read 1,059,344 times
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Jackson’s financial legacy
Jackson leaves behind $500 million dollars in debts, How could this happen? Why would any financial institution continue to loan him money?
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06-26-2009, 11:23 AM
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Life isn't about waiting for the storm to pass.
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Join Date: Jan 2008
Location: My own little piece of Heaven!TX
819 posts, read 381,507 times
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Because of who he was! It's crazy but true.
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06-26-2009, 11:37 AM
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Senior Member
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Join Date: Jul 2007
Location: Southwest Missouri
1,678 posts, read 1,151,237 times
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Quote:
Originally Posted by Stac2007
Jackson leaves behind $500 million dollars in debts, How could this happen? Why would any financial institution continue to loan him money?
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Future income.
Creditors gambled on Jackson's future income potential (the huge comeback concert tour, among them), and lost. Big. |
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06-26-2009, 11:44 AM
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Senior Member
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Join Date: Jun 2007
Location: Rockland County New York
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Quote:
Originally Posted by 8 SNAKE
Future income.
Creditors gambled on Jackson's future income potential (the huge comeback concert tour, among them), and lost. Big.
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I would love to see a list of his creditors. The nation has been through so much economic strife and to hear some one mass such high debt is unbelievable. This should never be allowed to happen again. I wonder how fast it will take for the fallout to land? |
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06-26-2009, 12:03 PM
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Senior Member
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Join Date: Oct 2007
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As usual, the media has focused on the flashy figure of half a billion dollars without considering Jackson's assets. Given all the renewed interest in Jackson's music and life, I wouldn't be surprised if his estate is able to come up with enough future earnings to stick to a reasonable debt repayment with many of the creditors.
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06-26-2009, 12:13 PM
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Leaving on a Jet Plane
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Join Date: May 2007
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He has one-of-a-kind assets-- a lucrative portfolio of music rights (including 100 or so Beatles songs), not to mention dozens of unreleased tracks that can be auctioned at the-sky-is-the-limit prices. His personal property and memorabilia will skyrocket in value.
His estate is sitting on a goldmine in music and publishing rights, and it (and his family) can make many millions more selling his likeness, as well as authorized rights to his turbulent life and death story with insider details, unseen photos, etc. Who knows-- a new Neverland could become Graceland West. The name "Michael Jackson" is golden, at least for a window of time. A lot of coin can be made in even a small window.
The real tragedy-- BoA could end up with the rights to the Beatles songs. I believe MJ owes them upward of $200 mil.
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06-26-2009, 12:41 PM
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Senior Member
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Join Date: Jun 2007
Location: Rockland County New York
2,989 posts, read 1,059,344 times
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Quote:
Originally Posted by goodbyehollywood
He has one-of-a-kind assets-- a lucrative portfolio of music rights (including 100 or so Beatles songs), not to mention dozens of unreleased tracks that can be auctioned at the-sky-is-the-limit prices. His personal property and memorabilia will skyrocket in value.
His estate is sitting on a goldmine in music and publishing rights, and it (and his family) can make many millions more selling his likeness, as well as authorized rights to his turbulent life and death story with insider details, unseen photos, etc. Who knows-- a new Neverland could become Graceland West. The name "Michael Jackson" is golden, at least for a window of time. A lot of coin can be made in even a small window.
The real tragedy-- BoA could end up with the rights to the Beatles songs. I believe MJ owes them upward of $200 mil.
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Thanks for the info. |
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06-26-2009, 01:47 PM
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Senior Member
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Join Date: Jul 2007
Location: Southwest Missouri
1,678 posts, read 1,151,237 times
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Quote:
Originally Posted by goodbyehollywood
The real tragedy-- BoA could end up with the rights to the Beatles songs. I believe MJ owes them upward of $200 mil.
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That will be very interesting to see play out. Didn't Jackson leave the rights to those songs to Paul McCarntey in his will? I doubt Paul will sit back and watch them slip away to BoA without a fight. It's going to be a messy, messy process to settle Jackson's estate. |
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06-26-2009, 02:18 PM
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Who Do You Trust?
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Join Date: Nov 2007
Location: In My Own Little World. . .
3,213 posts, read 2,038,243 times
Reputation: 1378
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Quote:
Originally Posted by 8 SNAKE
That will be very interesting to see play out. Didn't Jackson leave the rights to those songs to Paul McCarntey in his will? I doubt Paul will sit back and watch them slip away to BoA without a fight. It's going to be a messy, messy process to settle Jackson's estate.
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Excuse what may be an ignorant question, but how did MJ end up owning Beatles songs? |
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06-26-2009, 02:22 PM
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Senior Member
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Join Date: Jun 2008
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Quote:
Originally Posted by colleeng47
Excuse what may be an ignorant question, but how did MJ end up owning Beatles songs?
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He bought them...I don't remember the details tho... |
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