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Michael Jackson & His Family All Running Out Of Money by Texcee(f): 7:59am On Mar 25, 2008 |
With the exception of Janet Jackson, reportedly worth about $150 million, practically all members of the Jackson family are seriously broke. Source: http://www.news.com.au/heraldsun/story/0,21985,23428088-5012974,00.html THE once mighty Jackson family is just scaping by, with broke family members even resorting to stacking supermarket shelves to earn a crust. The glory days of sequin-studded seven figure performances are over, with the cash strapped family now paying for decades of poor financial decisions. Here is a rundown of their current state of affairs. Joseph Jackson (Father), 79 The Jackson dad hustles various girl groups in Las Vegas. He has previously filed for bankruptcy. Katherine Jackson (Mother), 77 The Jackson matriarch is still a stay-at-home mum and believed to be the only family member in contact with Michael. She has also previously filed for bankruptcy. Janet Jackson, 41 The current family breadwinner. She bought her mom a Vegas home in anticipation of losing the family's mansion, Hayvenhurst, to foreclosure. Like their Neverland colleagues, workers at Hayvenhurst have not been paid for months. La Toya Jackson, 52 Has little contact with the family after she declared Michael guilty during the 1993 molestation case. She lives with her rich boyfriend in Beverly Hills and earns extra cash judging beauty and singing contests. Rebbie Jackson, 57 The oldest, she's married to successful businessman Nathaniel Brown. Tito Jackson, 55 Formed a blues band several years ago and plays at small venues for $500 to $1,500 a gig. Michael Jackson, 49 On the verge of losing Neverland ranch as well as the family's Encino, Calif., home. He's hiding out in Las Vegas and repeatedly makes promises to his brothers while sabotaging any attempts by them to ply their musical trade. Randy Jackson, 46 Does odd jobs like changing tires to support himself. He was Michael's business manager during the 2005 molestation trial but ran into serious problems with friends after he persuaded three people to take out lines of credits against their homes to help Michael pay his attorney fees and Michael stiffed them. Marlon Jackson, 51 Lives in San Diego, where he works stocking groceries at a Vons supermarket. He fell on hard times three years ago when he was forced to leave his foreclosed home and move into an Extended Stay America hotel with his wife, Carol. Jackie Jackson, 56 The oldest son started an Internet clothing business and is trying to produce records by his sons. Nothing has panned out. Jermaine Jackson, 54 Splits time between the parents' Hayvenhurst mansion and his girlfriend's home in the San Fernando Valley. With more than $5 million in federal, state and other liens against him and a 1995 bankruptcy filing, he doesn't work or have a regular income. |
Re: Michael Jackson & His Family All Running Out Of Money by Texcee(f): 8:06am On Mar 25, 2008 |
This is very sad indeed ! The flip side of the story for Michael Jackson is that, he actually has assets - things he can sell for cash. So, technically, he isn't broke-broke. But Michael does not want to sell any of his assets (e.g. Neverland ranch, art collection, multi-million dollar condo at the Trump Towers, and the beetles collection) because it would confirm to the world that he is indeed broke. Time will tell sha. What is your take on this ? |
Re: Michael Jackson & His Family All Running Out Of Money by Arnold1(m): 8:42am On Mar 26, 2008 |
It's really sad. Boy George of the 1980's is still rich, Paul McCartney of the Beetles is still rich. If Janet Jackson is still worth $150 million, then she can still serve as the Jackson family lifeline- but for how long ? |
Re: Michael Jackson & His Family All Running Out Of Money by efuah(f): 10:48am On Mar 26, 2008 |
This news is hard to swallow. |
Re: Michael Jackson & His Family All Running Out Of Money by kellygirl(f): 11:12am On Feb 17, 2009 |
too bad if this is true. |
Re: Michael Jackson & His Family All Running Out Of Money by spikedcylinder: 12:04pm On Feb 17, 2009 |
They are used to extravagant lifestyles, it must be very hard to adjust. Such a shame. |
Re: Michael Jackson & His Family All Running Out Of Money by Nobody: 1:14pm On Feb 17, 2009 |
spikedcylinder: come easy, go easy ask evander holyfield and mc hammer thats why some call musicians and athletes the stupid//dumb/idle rich - cause they don't have to use their brains to earn their money, which is why they often have issues with fiscal responsibility etal |
Re: Michael Jackson & His Family All Running Out Of Money by spikedcylinder: 2:31pm On Feb 17, 2009 |
oyb: I agree. The few wise artistes invest their money, not the Jacksons I presume. |
Re: Michael Jackson & His Family All Running Out Of Money by Nobody: 2:50pm On Feb 17, 2009 |
money flowing thru fingers TLC CrazySexyCool eventually sold over 11 million copies in the US, becoming one of only seven R&B albums to ever receive a diamond certification from the RIAA, and won a 1996 Grammy Award for Best R&B Album and a 1996 Grammy Award for Best R&B Performance by a Duo or Group for "Creep". However, in the midst of their apparent success, the members of TLC filed for Chapter 11 bankruptcy on July 3, 1995.[9] charles barkley Gambling Barkley is known for his compulsive gambling. In an interview with ESPN's Trey Wingo, Barkley revealed that he lost approximately $10 million through gambling.[55] In addition, he also admitted to losing $2.5 million, "in a six-hour period," while playing blackjack.[55] Although Barkley openly admits to his problem, he claims it is not serious since he can afford to support the habit.[55] When approached by fellow TNT broadcaster Ernie Johnson about the issue, Barkley replied, "It's not a problem. If you're a drug addict or an alcoholic, those are problems. I gamble for too much money. As long as I can continue to do it I don't think it's a problem. Do I think it's a bad habit? Yes, I think it's a bad habit. Am I going to continue to do it? Yes, I'm going to continue to do it."[56] mc hammer After his rapid fall from fame and subsequent bankruptcy, MC Hammer spent most of the latter half of the 1990s as a punch line in the music business. In 2000, Nelly, in his breakthrough hit "Country Grammar (Hot Shit)", announced his intention to "blow 30 mill[ion] like I'm Hammer".[11] mike tyson Late career, bankruptcy and retirement
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Re: Michael Jackson & His Family All Running Out Of Money by spikedcylinder: 3:26pm On Feb 17, 2009 |
Looks like TLC got swindled though. |
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