₦airaland Forum

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.

He made a total of 175 million on Thriller. The height of his fame ,1988 earned him 125 million that year ( Forbes Mag source) His lawyer John Branca told him to buy the Sony ATV Beatles catalog for 48 million and it generated 11–18 million a year income but his living expenses were twice that much. He bought Neverland for 19.5 million, He put 37 million in it building the amusement park,zoo,movie theater. It cost 24 million a year to maintain. It had a salaried full time staff , up to 100 people. He had private jets,other homes. He would rent an entire floor of hotel suites for 9,000.00 per suite per night. Michael actually held the record for highest rent paid in NYC for many years after he rented an upper east side townhouse for 75 thousand dollars a month while working on Off the Wall .Michael was a profligate spender. Example : he bought 3 bottles of a perfume called Gianni Vive Sulman Parfum VI at a cost of $89.000.00 PER BOTTLE. He paid 1.5 million for the Gone With The Wind academy award, $659,000.00 for a ferris wheel, $978,000.00 for a carousel, had his favorite limo interior clad with 24k gold and cut crystal.

Court documents filed in LA superior court Sept 1999 for his divorce from Debbie Rowe show-his cost of living at the time averaged a whooping $2,339,300 PER MONTH ( yes you read that right ,two million three hundred thirty nine thousand and 300 dollars a month)

The breakdown follows:

--he had 75 cars registered to him, many being rolls Royce, Rolls Royce limos, Merces Benz

$95,700.00 a month on gardening (Neverland)

security, 52,900.00 a month

Upkeep on zoo and Amusement park, $66,200.00 per month

Housekeeping and PR expenses $60,000,00 per month

Legal fees $178,100.00 month

$120,000.00 personal and property insurance per month

$25,600.00 medical needs

$42,000.00 gifts

$85,500.00 transportation ( private planes, limos for self and entourage)

$475,300 MJJ productions, Optimum productions)

His basic PERSONAL expenses were an astounding $1,420,600.00 a MONTH . His household expenses EXCLUDING MORTGAGES AND TAXES were $358,600.00 a month. That meant it cost $2,339,300.00 A MONTH to live Michael Jackson's life, WHICH WOULD PUT EVEN A BILLIONARE IN DEBT.

Michael had paid 63 million to make the short film Ghosts. It made no profit.

Divorce settlement to Debbie Rowe, 10 million $ lump sum plus 2 million $ home ( Washinton post 2005)

Michael liked to shop..He bought a $275,000.00 custom designed red velvet couch AND 759,000.00 dining chair set among the other 3 million dollars in antiques for his home in 1997,which is representative of his level of spending.

He paid Disneyland Paris 3 million dollars per day to close down so he could have it to himself.

You get the idea right?

Michael's earning potential dwindled after the 1993 child molestation allegation. Product endorsements dissapeared. His clothing line was cancelled after Bad.Record sales never did as well as Thriller or even Bad . He had not been on tour since 1997. His tours were enormous productions for the time with much of the $ for special effects the producers could not afford but Michael wanted coming out of his pocket. Millions. Sales of INVINCIBLE were "disappointing" in 2000 with only 10 million albums sold.

‭Michael lived in an insane amount of luxury even for a multimillionaire. He had no concept of money.

So the IG is so senseless to be reading that nonsense from beginning to end.... I can't not even bring myself to read one sentence of poor grammar not to talk of that pages of bullshit the ig kept reading to the end, let's assume it is the fault of the writer as you have said

Shame no dey catch una.... Investigation my ass... Mumu ppo

Transmission transmission lol.... Good work boys... Make una use am chop

TrumpedL:
A city should have flyovers not roundabouts that causes traffic gridlock

U know how many flyover dey portharcourt, abi u think say na ekiti

Seun upon all the money wey u dey make, u no fit reorganize this olden days looking site, create better functional app. U no dey see quora and reddit....

Jesus christ.... Gross.... The train no blow horn... Chineke

Black people problems are many, complicated and interwoven.....

Bigtotoboi:
BET stands for Black Entertainment Television. Why hating boy?

I take it to mean you did not understand what i wrote

BET award for blacks

If whites make an award for just whites, nobody will hear word untop racism racism

B

See aboki aboki everywer... Abeg make we try give this ppo their own country

Me i go just troll out.... Wedding don close.... Make she follow d guy go do honey moon

I don laugh tire

This people for just get their own country.... Who bring the idea to join everybody together sef.

Na only them no wan go... Niger delta Republic, ododuwa Republic, biafra,....

Na wao... This ppo dey try o.... See as she dey feel like prime minister.....
We no just dey send anybody for this country

Na wao... So sad

I go first tear the guy knock before i comot.... See dey agbero presenter sef

Thank jah

...and i am still here without a reasonable love life.... Fvck me

..

Iamkuttie:


How will person go to Swimming pool with Soap and Sponge??

Iffa mention tribe now, it will look like am Insulting Yoruba people deliberately.




please don't beat me,

am not feeling alright.

Oga stop to post this dry thrash up and down before thunder fire u

Sick in... Caught out