Yes, Michael Jackson is dead now — and that’s tragic in of itself. However, when the King of Pop was alive, he was one big spender. He spent money on all types of things — from detailed fantasy empires all the way up to wardrobe and lavish gifts. There was a time where he bought Elizabeth Taylor a $637,000 necklace. He even owned 75 cars!
This type of lifestyle can’t last forever, even when you’re the King of Pop. He had to shift things around quickly, selling off many of his assets and entering into deals that would essentially push those debts away. It wasn’t easy — but he managed to do it and still come out ahead. He passed away in 2009 with a net worth of 230 million dollars, and his estate is still producing money to this day.
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Posted 18 May 2011 - 06:14 PM
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Posted 22 May 2011 - 11:31 AM
I never considered Michael to be bankrupt and I don't believe those rumors as well.
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