Michael Jackson’s net worth just before he died is a testament to a fact – the King of Pop is one of the biggest artists and hard-working stars the world has ever seen. Nothing had prepared the world for the depth of pain that Michael’s death precipitated in 2009. Because of his talent, impact, and legacy which will be hard to forget, there have been multiple queries bothering on the singer’s wealth before and after his demise. Below are the facts you should know about the matter.
Michael Jackson’s Legacy
Michael Jackson became a star as a child when he performed with his brothers as a group. In the ’70s, The Jackson 5 collectively sold millions of albums but it was nothing compared to the success of Michael’s solo career. In his lifetime, the King of Pop churned out six EPs, 10 albums, and no less than 30 compilation albums.
His sophomore solo album Thriller, which sold more than 30 million copies still has commercial sales record that is unmatched to date. The bulk of Michael Jackson’s net worth was amassed from his over one billion album sales globally. MJ received several prestigious awards including 13 Grammys, the 1993 Grammy Legend Award, 2010’s Recording Academy’s Lifetime Achievement Award, and many more.
Sadly, on June 25, 2009, the pop legend who was slated to perform in several concerts in London was found lifeless in his bedroom at his Los Angeles home. Though he was promptly rushed to the hospital, MJ later died from an overdose of a combination of prescribed drugs in his system which caused a cardiac arrest.
Net Worth Just Before His Death
Michael Jackson’s net worth was pegged at around $500 million at the time of his demise. Although the King of Pop left a remarkable musical legacy and a presumed vast estate, he was heavily in debt. This did not come as a surprise to many because the singer was also known for his flamboyant lifestyle, which proved very difficult to maintain over the years.
The bulk of Michael Jackson’s net worth was made at the peak of his career which was between 1985 and 1995, via lucrative tours, record sales, business merchandise, and endorsements that raked in millions of dollars annually. One of MJ’s most remarkable endorsements was the 1983 multi-faceted marketing and pace-setting deal with Pepsi which remains unmatched to date.
What Is Michael Jackson’s Current Net Worth?
Granted, it is not an easy task to place a financial value on someone who has passed on. But after MJ’s demise, his team of expert estate executors reportedly worked hard to rebuild Michael Jackson’s finances and enhance his image. From publishing rights to boosting Jackson’s merchandising arm, Triumph International, they successfully racked up millions of dollars for the singer’s estate. Specifically, in about a decade after the King of Pop’s death, he has made an eye-popping sum of over $2 billion.
Nearly a decade after the pop legend’s death, his net worth is still estimated at $500 million. MJ’s fortune is shared between his mom, his three children, and many children charities in a 40:40:20 percentile ratio. In accordance with a legal agreement between Michael’s mom and the mother of his kids Debbie Rowe, Katherine Jackson served as his children’s guardian until they all came of age.
An asset that has remained a challenge in Michael Jackson’s estate is his 2,800-acre ranch home, Neverland Ranch. The singer purchased the property in 1988 at a price pegged around $17 and $30 million. In addition to the annual maintenance fees which ran into millions of dollars, MJ remodeled the house several times to suit his fantasies within 15 years. But more than a decade following his death, Michael Jackson’s home has been unable to find a new owner. The Neverland Ranch asking price was $100 million initially but after being on and off the market, it was put back in the market in 2019 for $31 million, an amount which reflects almost 70 percent discount.
Regardless, Michael Jackson’s net worth is yet another proof of his top-earning capacity. But unfortunately, his legacy has almost been tarnished with years of rumors and controversies; more recently, the controversial HBO production Leaving Neverland, which detailed allegations of how MJ sexually abused two young boys. Michael Jackson’s estate has frowned at the documentary describing it as an attempt to assassinate the singer’s character even in death.