MovieChat Forums > Michael Jackson Discussion > So, where DID Jackson's money go?

So, where DID Jackson's money go?

posted 4 years ago by Otter (24464)
12 replies | jump to latest

So during the 1980s, Jackson seemed to have all the money in the world, he was top of the charts for a long time during an era of generous contracts, and was thought to be an astute businessman because he was making deals to buy the Beatles catalogue and so on. But by the early 2000s, his home was seized by creditors, and he seemed to be out of money.

So where DID the money go? I mean, Jackson spent lavishly, but it is possible for one person to spend that much without buying fourteen private islands? Did his record company shaft him? Did his money managers invest badly, or steal from him? Were there illicit payoffs? What? Anyone know anything? I mean, I've followed MJ over the years, but not as closely as some.

[–] Washingtonnative (2613) 4 years ago

Into a lot of peoples pockets.

[–] Moonglum9 (10702) 4 years ago

Jesus Juice was actually manufactured by Jesus himself. That shit ain't cheap!

[–] HAL9000 (935) 4 years ago

probably got ripped off by shady people. iirc he had to produce the blood on the dancefloor album out if his pocket and sony didnt even promote it.

but his spending habits were out of this world as well. in this one documentary he spends 100k on trash.

[–] Otter (24464) 4 years ago

Tell me more about this album Jackson had to pay for himself. What kind of losses were involved?

[–] HAL9000 (935) 4 years ago

î dont know the details, but iirc jackson went to court against sony, because they kinda tried to hide the album.

also:https://youtu.be/HRnCX-8hA4A
was more than 100k, more like 3mil or sth

[–] holly61 (897) 2 years ago

You didn't watch ''living with Michael Jackson'' did you? watch the part where he went on a shopping spree.Oh goodness, millions spent in six minutes. That is why.

Not too mention his extensive plastic surgery, pills, doctors, injections. It's no wonder...

[–] Otter (24464) 2 years ago

The only shopping spree I saw on film was one where he was spending tens of thousands of dollars on hideous items of home decor, not millions. And that was comparatively late in the game, after the rumors about little boys and financial problems were rampant.

I don't suppose you have a link?

[–] holly61 (897) 2 years ago

He bought ''high art''. Do you know how much that costs?

[–] Otter (24464) 2 years ago

"High art" can be a stellar investment! Unless you have Jackson's taste level and aren't willing to take advice from a top art buyer, of course, and to get an idea of Jackson's tastes i suggest you look at the paintings he left when he abandoned Neverland Ranch.

Seriously, he doesn't seem to have been as extravagant as Johnny Depp or Nick Cage, who flat-out spent their fortunes on luxuries. Or maybe Jackson just didn't have his manic spending brought upbin as many court cases, where the press could get ahold of the records.

[–] pepetoony (1534) 6 months ago

That was all for the cameras. He ultimately never bought any of that shit.

[–] Foster1486 (212) 2 months ago

When he died he was almost 500M$s in debt

[–] stickman38 (3012) 2 months ago

Dude lived in a fantasy world. How could anyone that is adored by millions with the constant re-enforcement of how wonderful he is and have that much money keep their grip on reality? It's obvious he spent it on luxury items. He had a private jet, a multiple million dollar home, he built an amusement park on his own property and much more.

And I saw that documentary of him buying ridiculously expensive items like it was nothing. The owner of the shop said that Jackson would come in there often and buy crap.

He was pretty loose with his money.