: MediaTakeOut.com just received some AMAZING news. According to reports, Michael's estate has paid off all the debts that plunged his life into turmoil. And they managed to do so barely five months after his death.
How'd they manage this? Well Michael’s made a FORTUNE since he passed away. Here’s how the UK’s Daily Express is reporting it:
Music royalties and box-office takings for the film This Is It have brought in almost half-a-billion dollars to the King of Pop’s estate.We know what you're thinking. Michael is being sued by everyone and their mama - so his estate might soon be back into debt. Well, according to the report, the money he's making now FAR EXCEEDS the amount he's being sued for. Check this out:The phenomenal flow of cash, which does not include income from Jackson souvenirs and memorabilia, more than covers the estimated $500 million he owed.
Jackson was already No3 on Forbes Magazine’s annual list of highest-grossing dead celebrities, behind fashion icon Yves St Laurent and composers Rodgers & Hammerstein, before This Is It was released last month. By yesterday, the film had raked in almost $240million worldwide, according to online monitor Box Office Mojo, with eventual income from DVD sales expected to double that. Sales of the spin-off double CD, which has made the top 10 in more than 120 countries, as well as re-releases of Jackson's classic albums, are "conservatively" expected to top $360 million by Christmas, according to Sony Music.
He wasn't broke by the average person's status, but he REALLY was that much in debt. He owed more money than he was taking in. And now he's about the be the richest dead celebrity of all time. He's got that family set for life now, since Katherine gets 40% of anything that he makes and when she passes, she'd likely leave it to her children.....
That's good for the estate I conclude, Michael was so great in his abilities to create art through song and music that his legacy should not have been tarnished by being broke, because his works are valuable indeed. One thing I know for certain though is that I won't be worried about what debtors I owe or any other bills left behind after my demise and I would tell my relatives not to bother worrying about it either! S.h.i.t. my motto is once you are DEAD that DEATH should forgive all DEBTS. 4u2.com
How could Mike go broke, the only reason why he was in debt was because people owed him money for past performances and appearances. Mike was too soft and humble to threaten somebody for his money, plus he loved the fans so much to cancel over money issues... Unfortunately it came back and bit him!!!
still wish people would have appreciated him WHILE he was alive.
@keBADD - no white people weren't the only people starting rumors...i can't even count the amount of times i heard a fellow black person make a crack about him before he died. whether it be about his skin colour or his personal life. so let's not make this about race, it's not.
