Michael Jackson: The Story
The King of Pop was born on August 29, 1958, in Gary, Indiana as the eighth of ten children. His father formed a band which included his brothers Tito, Jermaine, and Jackie. In 1964, Michael and Marlon joined it, and the band’s name was Jackson 5. They started touring and performing at clubs and local auditoriums. The Jackson 5 set a record when their singles ‘ABC’, ‘The Love You Save’, and ‘I Want You Back’, while ‘I’ll Be There’ topped the Billboard Hot 100 chart. Following the great success of the band, Michael Jackson’s net worth was set to skyrocket, as he started rising as a solo performer while remaining a part of Jackson 5.
He made the charts with ‘Got to Be There’ from the eponymous album. Next came ‘Ben’, ‘Music & Me’, and ‘Forever, Michael’. Michael Jackson amazed the world with the album ‘Off the Wall’ which offered a more complex sound, combining pop and funk. ‘Thriller’ brought him even more success, seven Grammys, and eight AMAs. The album stayed on top of Billboard 200 for 37 weeks and became the best-selling album of all times. It included some of his greatest hits like ‘Billie Jean’, ‘Beat It’, and ‘Wanna Be startin’ Somethin’’ which noted unparalleled success. Michael Jackson’s net worth boomed as he received $2 for every album sold – a record-setting profit from sales.
Sky-high success & other business ventures
Undoubtedly, the era of Michael Jackson came. He was a versatile artist whose influence was undeniable. Aside from music, Jackson released his autobiography, ‘Moonwalk’, where he described his childhood, the Jackson 5, and how he changed his appearance. The book peaked at number one on The New York Times Best Sellers’ list. As Jackson’s popularity grew, he got interested in the music publishing business and invested in publishing rights that other had written. The most lucrative investment for Michael Jackson’s net worth was the ATV Music Publishing which he eventually merged with Sony, earning $95 million up front. From Family Stone to The Beatles, the joint ATV/Sony venture today is estimated at $2 billion.
After a five-year hiatus, Jackson’s album ‘Bad’ spawned five number one hits – ‘Dirty Diana’, ‘Bad’, ‘The Way You Make Me Feel’, ‘Man in the Mirror’, and ‘I Just Can’t Stop Loving You’. He won numerous accolades among which the Award of Achievement at the AMAs. Michael Jackson’s net worth in 1990 was boosted by the renewed contract with Sony for $65 million. His eighth album, ‘Dangerous’ came out in 1991 and was certified seven times platinum by 2008. Jackson’s performance at Super Bowl was the first to earn greater audience than the game itself.
Scandals & anniversaries
The singer wasn’t always in the spotlight for good reasons. He faced child sexual abuse allegations, but returned stronger with the double album ‘HIStory: Past, Present, and Future, Book I’. The album debuted at number one on the charts worldwide and became the best-selling multiple-disc album of all time. The single ‘You’re Not Alone’, written by R Kelly, made history as the first song to debut atop Billboard Hot 100 Chart. The album was supported by the HIStory World Tour which grossed $165 million. How much money did Michael Jackson make in a concert of this tour? A whopping $2.9 million.
In 2001, Jackson host two concerts at Madison Square Garden to mark the 30th year on stage as a solo performer. The show featured Usher, Destiny’s Child, Britney Spears, Slash, Whitney Houston, and his brothers. Later in the same year, he released the album ‘Invincible’ which topped the charts and went double-platinum. The famous musician was once again in the spotlight after the documentary ‘Living with Michael Jackson’ was released in 2003. Child sexual abuse allegations arose again, and Jackson was arrested and charged with child molestation and of administering an intoxicating agent.
In 2006 Jackson received the WMA Diamond Award and continued to work on his new album which was never released. The King marked the 25th anniversary of ‘Thriller’ by releasing ‘Thriller 25’, an album which featured remixes from Akon, will.i.am and other artists, as well as a new single ‘For All Time’. Jackson announced a series of concerts, ‘This Is It’, which was supposed to be his last before retiring. Unfortunately, he died after suffering cardiac arrest only three weeks before the first date. A documentary giving a glimpse of ‘This Is It’ backstage moments and rehearsals was released posthumously. The film earned $260 million and became the highest-earning documentary or concert film of all time.
Michael Jackson’s net worth before he died was estimated at $500 million, according to the IRS. However, the King of Pop had some cash flow problems during that time, as he had borrowed against the value of his estate and some sources assured that his net worth was only $2,105.
However, Jackson’s fortune continued growing after his death, thanks to his iconic image. According to Forbes, Michael Jackson’s net worth in 2017 was boosted by $75 million, and he topped the Forbes Top-Earning Dead Celebrities list for the fifth consecutive time.How much is Michael Jackson’s estate worth now? An astonishing $600 million!
Michael Jackson Net Worth & Spending Habits
The King of Pop is now the highest-paid dead celebrity, but how much money did Michael Jackson make a year? Between 1985-1995, he earned $50-100 million a year! However, Jackson spent money faster than he earned them. A great part of Michael Jackson’s fortune went to his ludicrous purchases including antiques, clothes, diamond-encrusted gloves, and chimpanzees. He also splashed big money on the divorce settlement with Debbie Rowe and the child molestation lawsuits.
He also owned a seven-bedroom, 13-bathroom Holmby Hills mansion spread on 1.25 acres. The home which boasts 12 fireplaces, a pool, a wine cellar, and a home theater sold for $18.1 million after his death. Jackson’s fleet of vehicles included a 1988 GMC Jimmy High Sierra Classic, a 1990 Rolls Royce Silver Spur, a 1999 Rolls Royce Silver Seraph, and a 1988 Lincoln Town. A 1993 Ford Econoline, a Neoplan Touring bus, and a Harley Touring bike were also part of his garage.
But, his most notable purchase happened back in 1989, when he bought the famous Neverland Ranch for $17 million and spent even more millions to turn it into fantasy land called Neverland. The estate featured an amusement park, a ZOO, a train system, and a movie theater. All that cost $5 million per year for maintenance. He closed the estate in 2006 when he was in debt and took a loan against his publishing holdings.
Maybe Michael Jackson really was a controversial figure, but he was also a true humanitarian. He equipped a unit at Mount Sinai NY Medical Center in 1984 and later donated a large sum to the Michael Jackson Burn Center for Children. Throughout his career, Jackson has supported numerous causes like AIDS Project Los Angeles, Boys & Girls Clubs of America, Cure4Lupus, End Hunger Network, Great Ormond Street Hospital, and Starlight Children’s Foundation. His biggest contributions came through his Heal the World Foundation whose work included bringing less fortunate children to the Neverland Ranch, airlifting supplies overseas, and instituting alcohol and drug abuse education.
Michael Jackson Net Worth: CelebJury Ruling
Looking in the future, the net worth of Michael Jackson’s kids is expected to grow, as each of them will inherit their trust fund when they turn 30. At the moment, Blanket Jackson’s net worth is estimated to be $100 million, as it is Paris’ and Prince Michael Jackson’s net worth, thanks to the sale of Michael Jackson’s stake in the Sony/ATV music publishing company. Michael Jackson’s net worth had its ups and downs, but that wasn’t the case with his career. His contributions to dance, music, and fashion made him a global icon which continues to live even after his death. Visit CelebJury for more celebrity net worth articles!