Michael Jackson Biography, Wiki, Salary, Net Worth, Couse Of Death

Michael Jackson Biography: Michael Joseph Jackson was a singer, composer, dancer, and philanthropist from the United States. He is known as the “King of Pop” & is considered one of the most famous cultural personalities of the twentieth century. His contributions to music, dance, and fashion and his publicized personal life established him as a global icon in popular culture across a four-decade career.

Michael Jackson Biography

Michael Jackson Biography: Michael Joseph Jackson was born in Gary, Indiana, on August 29, 1958. He was the 8 of 10 children in the Jackson family, a working-class African-American family that lived in a two-bedroom Jackson Street home. His mother, Katherine Esther Jackson (née Scruse), played the clarinet and piano, hoped to be a country-and-western musician, and worked part-time at Sears.

She belonged to the Jehovah’s Witnesses. Joseph Walter “Joe” Jackson, a former boxer, worked as a crane operator at US Steel and supported the family’s income by playing guitar with the Falcons, a local rhythm & blues band.

Michael Jackson Wiki

Michael Jackson Biography: Michael Joseph Jackson (August 29, 1958 — June 25, 2009) was a singer, dancer, entertainer, and recording artist from the United States. Michael Jackson personified the age of pop throughout the 1970s, 1980s, and 1990s, giving him the moniker “King of Pop.” Until his sudden passing in 2009, he was a global icon.

Michael Jackson’s Net Worth

Michael Jackson was an American singer, songwriter, actor, producer, & philanthropist who died with a net worth of -500 million. Though his estate would earn over $2 billion in the decade after his death, Michael was officially in debt to $500 million due to decades of overspending and overborrowing. He has sold almost 750 million records worldwide, including 35 million in the year after his death.

Between 1985 and 1995, Michael Jackson made between $50 and $100 million each year through tours, album sales, endorsements, and merchandising. Regrettably, Michael wasted the money as quickly as he earned it. His extravagant lifestyle costs around $50 million per year to maintain.

He paid his baby’s mom Debbie Rowe $12 million, another $20 million resolving a child abuse allegation, and tens of millions on attorneys. Neverland Ranch cost $19.5 million to purchase and another $10 million to maintain. He spent $35 million transforming the property into his amusement park. Bentleys, antiques, art, exotic animals, and renowned diamond-encrusted gloves were also there. Jackson allegedly spent between $50 and $100 million on unfinished film and music projects.

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Michael Jackson’s Net Worth at Death

Michael Jackson’s net worth at the time of his death was technically minus $500 million. Michael once accepted a $380 million loan from Bank of America to support his lifestyle, using his 50% ownership share in the music publishing corporation Sony/ATV as security.

The interest alone on the debt was in the tens of millions of dollars every year. He burned away the entire $380 million plus $120 million in a few years. As a result, when Michael Jackson died in 2009, he was $500 million in debt.

Michael Jackson’s House

Michael Jackson spent much of his adult life at his massive Neverland Ranch. Neverland has been on the market since 2015 in Los Olivos, California, in Santa Babara County. Unfortunately, it has been challenging to find a buyer even after being restored, rebranded, and decreased (in price). Here’s a brief history of Neverland and a rare drone video tour provided by the real estate agent.

Michael Jackson paid $19.5 million for Neverland Ranch in 1987. In today’s inflation-adjusted currency, that equates to about $44 million. Jackson developed a magnificent fantasy realm equipped with an amusement park, exotic animals, and a functional train after obtaining the 2700-acre property. He spent millions of dollars on improvements and expansions. The property was designed in the style of Peter Pan, an homage to Michael’s sentiments about his stunted growth due to his early celebrity and lost youth.

He hosted elaborate parties at home for friends, family, and strangers. Kim Kardashian celebrated her 14th birthday at the ranch because of her father’s business contacts with Michael. In 1991, Elizabeth Taylor married there.

The property’s main home is a 12,600 square-foot French-Normandy style chateau. The mansion has five bedrooms, eight bathrooms, a dance studio, a 50-person movie theater, and many other amenities. A four-acre lake, tennis courts, a basketball court, barns, and various guest/staff houses are available. The site has a total of 22 buildings.

Michael’s career and liquid financial condition were severely harmed after he was charged with child abuse in 1993 and again in 2003. He no longer had the requisite revenue to pay the mortgage and the expected $1 million in-year maintenance requirements. At one time, he defaulted on a $25 million loan related to the property. Michael was facing foreclosure in 2008. His bank sold the $25 million loan to Colony Capital, a private equity firm, for $23 million.

Michael Jackson’s Awards

Michael Jackson was invited and honored three times by President Barack Obama at the White House. Ronald Reagan awarded him a “Presidential Public Safety Commendation” medal in 1984 for his humanitarian efforts.

He has 39 Guinness World Records, including the Most Successful Entertainer of All Time record, and Grammy Awards, including the Grammy Legend Award and the Grammy Lifetime Achievement Award.

Jackson was honored on the Hollywood Walk of Fame as a member of the Jacksons in 1980 and as a solo artist in 1984. In 1997 and 1999, he was elected into the Rock & Roll Hall of Fame & the Vocal Group Hall of Fame as a member of The Jackson 5.