Michael Jackson

scottsy · 06-26-2009, 11:45 PM

I knew he was in some pretty serious debt... but man, $300 Million is sure alot of dough...

boo boo · 06-27-2009, 12:18 AM

Quote:

Originally Posted by lucifer_sam

you do realize he's accumulated about $300M in debt, right? he had to sell off Neverland and everything, that's why he was doing a comeback tour in the first place.

The news has only been talking about it all day, of course I wasn't aware of that.

Elvis (who was also heavily in debt) is long gone, but his estate and his records still bring in a lot of moolah some 30 years after his death, you know that's gonna be the case for MJ, and now that the spender is gone, the income will eventually overshadow the debt, trust me.

SATCHMO · 06-27-2009, 01:09 AM

I wonder who inherits his estate?

Arya Stark · 06-27-2009, 01:10 AM

Quote:

Originally Posted by SATCHMO

I wonder who inherits his estate?

His kids, no? =3

SATCHMO · 06-27-2009, 01:13 AM

Quote:

Originally Posted by AwwSugar

His kids, no? =3

Someone has to be the legal executor until they're old enough to have legal capacity, so probably their mom(s).

Arya Stark · 06-27-2009, 01:14 AM

Goodness. That money's going down the drain before the kids reach double digits.

SATCHMO · 06-27-2009, 01:19 AM

Quote:

Originally Posted by AwwSugar

Goodness. That money's going down the drain before the kids reach double digits.

No it would still go to them, but usually there's someone who "inherits" the legal right to make executive decisions regarding any decisions made about albums being released posthumously, that is if MJ had any of those rights in his record contract, which i'm sure he did.

boo boo · 06-27-2009, 01:27 AM

Just gotta hope that Jackson left it in the hands of someone who can manage it.

Elvis's people are a great example of how to manage an estate.

They've made him more money than he ever had when he was alive.

Freebase Dali · 06-27-2009, 02:39 AM

I think it's pretty obvious the ranch is going to Macaulay Culkin.

He'll be home alone.

Comus · 06-27-2009, 02:56 AM

Quote:

Originally Posted by Veridical Fiction

I think it's pretty obvious the ranch is going to Macaulay Culkin.

He'll be home alone.

I reported this post

06-26-2009, 11:45 PM	#561 (permalink)
scottsy Untalented Drummer Join Date: Dec 2008 Location: Sussex, Wisconsin Posts: 2,900	I knew he was in some pretty serious debt... but man, $300 Million is sure alot of dough... __________________ "If you're like me, then it's possible you're a clone generated from my stolen DNA. I suggest you turn yourself in for destruction immediately" - Shaun Micallef.

06-27-2009, 02:39 AM	#569 (permalink)
Freebase Dali Partying on the inside Join Date: Mar 2009 Posts: 5,584	I think it's pretty obvious the ranch is going to Macaulay Culkin. He'll be home alone. __________________

06-27-2009, 01:09 AM	#563 (permalink)
SATCHMO Al Dente Join Date: Mar 2005 Location: Texas Posts: 4,708	I wonder who inherits his estate?