Sources:

Katherine Jackson v AEG LIVE court transcripts,financial disclosures

Conrad Murray murder trial,court transcripts

Forbes Magazine, Michael Jackson yearly career earnings 1979-2009

Rolling Stone magazine, monetization of music.

Julians Auctions,catalogs, Michael Jackson home contents, memorabilia with known original purchase prices

Public records. Financial disclosure statement filed with LA COUNTY supreme court, Jackson v Rowe

Public records. Sycamore Valley ranch sale William Bone to Jackson

interviews: John Braca, Jackson lawyer, Frank DeLeo, Jackson manager

Sony/Atv music publisher, "Beatles" catalogue aquisition, sale,income

Interview,Elizabeth Taylor discussing Jackson jewelry gifts and Christies Elizabeth Taylor jewelry auction with original purchase prices and designers

NY Times real estate, sale of Michael Jackson's former townhouse

Millz404:
Despite earning 19 million in 1994 Michael arranged a 500 million $ advance against the Beatles catalogue ( known as the Sony Atv merger), to fund his lifestyle . Its a myth that the Chandler settlement cost him 23 million. His insurance company, Lloyds of London , paid the settlement.

He borrowed against Neverland as his lifestyle costs and spending were still triple his income in 2000.

After a second child molestation charge in 2003, and subsequent multi million dollar trial he stopped paying expenses including mortgage on Neverland and in 2005 abandoned it, millions of dollars in contents, the zoo animals, the amusement park. His income that year according to Forbes magazine was 28 million.

Neverland went into forclosure but was saved by an investment bank willing to take over the property and payments while allowing Michael to keep 25% ownership. Lawsuits began from unpaid employees,managers, business interests,promoters, record companies, private claims .

He owned and paid expenses for,the Jackson family compound in Encino,CA where his mother lived . The mortgage went into arrears.

He bought Elizabeth Taylor a two million $ vacheron king kulla diamond encrusted watch, along with MILLIONS more in Jewelry during their friendship.

There is the infamous scene in the Martin Bashir documentary , Living with Michael Jackson, where Michael spends over a half million purchasing the ugliest antiques ever in a Las Vegas mall, in 10 minutes. This was not a performance for the film, this was a very frequent feature of Michael’s life.

The spending ,luxury and shopping continued although income , except for the Beatles catalogue and $ from albums ,like Thriller 25, History past present future,released with remix old material, was drying up

But yet….

He borrowed against the Beatles catalog again and sold more bits to Sony. Most people would have seen the writing on the wall and dialed it back to live on the 11–30 million a year income from the Beatles catalogue and other investments but Jackson thought he could somehow rebound. His yearly expenses remained double or triple the income.

He moved to Bahrain in 2005 ,bought a 1.2 million dollar mansion,lived in it less than 10 months, abandoned it. He never really worked again but the spending,shopping ,luxury continued and even escalated.

When he Negotiated with AEG live to do a series of 10 and then 50 concerts, many people believe AEG twisted his arm. Michael complained to everyone that AEG was unreasonable and killing him ,but really, AEG expected him to work it for his projected multimillion profit even if he was 50 years old. AEG spent 40 million on production costs. Michael was desperate for the money that 50 shows and a projected world tour , product endorsements,merchandise, clothing line franchise and concert movie would generate . Initial Ticket sales totaled 85 million. He was an estimated 500 million dollars in debt. He had been asked to leave at least 4 posh luxury hotels that year when his credit cards were declined (according to body guards)

By then Michael had well known drug problems, was mentally and physically unstable and had not been onstage in almost in 10 years. It was a risk for all concerned.

Michaels income in 2008, the year before his death was 13 million. At the time of his death Michael was paying, (with money advanced to him by AEG) , Dr Conrad Murray, a salary of $150,000.00 a month and $100,000.00 a month rent on his Carolwood drive mansion, while preparing to move to a 40 room rented English castle outside London, complete with lake,river,horses, large full time staff . It has been estimated by those who knew him that this trend of living a life exceeding income, even if this income was 50 million dollars a year, would have continued,had he lived.

youngsahito:
his lavish life end his career... this is good to know