Michael Jackson Nearly Out of Cash at Time of Death
It has already been two months since the death of the King of Pop- Michael Jackson, and with his demise many unpleasant truths of the star are falling out in the public and some facts seem to be just unbelievable.
The following day of Jackson’s death saw media reports of how the entertainer was immersed in debt that rose to millions of dollar and breathed his last breath in a rented house. The world was quite aware of the lifestyle that the pop star led; he lived life in a king-size that eventually crossed beyond his star image. Most of Jackson’s financial mess is associated to his extravagant living and he became a target to a lot of criticism that to an extent affected his personal image.
One of Jackson’s most envious assets was his Neverland Ranch, which is estimated to be around $66,875,000 and his Encino home is valued at $6,600,000. Another asset of Jackson is the Beatles Catalog under the Sony–ATV Publishing Trust is worth a whopping $1,150,000,000 and the MJ publishing trust has $20,000,000. There is another $20,000,000 worth of personal articles that comprise of antiques, jewellery and automobiles. Jackson’s professional equipment is valued at $1,000,000 and media archives are worth another $20,000,000.
Jackson also has a restricted cash of $10,696,764, which is reserved to pay the interest towards his loans. This listing of his property details might make one think that he was not a pauper after all but his bank balance is a real shocker; he had $668,215 only! For a star of Jackson’s stature this number hardly amounts to anything; most of the stars spend such an amount on a single awards function. It is really sad to know that a renowned personality had to face such dire consequences. Well, Jackson’s family need not brood over the cash he has left, his other assets is definitely worth quite a fortune.
