Yamil annum biography of michael jackson
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This star earned $2.7 billion since 2009, despite being dead all this while; all about world's highest-paid dead celeb
Oct 19, 2024 11:10 AM IST
Michael Jackson died in 2009 but still makes hundreds of millions of dollars each year, more than many top celebs of today.
They say that in death, all things stop. That may not be true for celebrities, though. A list from Forbes, released annually, reveals how much dead celebrities earn each year. And the answer is millions and billions of dollars. Many celebs, mostly actors, singers, writers, and painters, continue to generate royalties from their work even after their demise. The 'highest-paid' of them earned $115 million last year and a staggering $2.7 billion since they died in 2009. (Also read: World's richest celeb made just six films; with net worth still more than Tom Cruise, Shah Rukh, Taylor Swift combined)
World's highest-paid dead celebrity
The Prince of Pop, Michael Jackson, was one of the biggest names in world music during his peak in the '80s and '90s. And even though controversies dulled his stardom to an extent later, even death failed to dim it completely. After his sudden death in 2009, Michal Jackson's estate has continued to earn money through the royalties of his countless chartbusters. Ac
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Was Micheal Jackson In Huge Debt During His Death; Court Documents Reveal
Trigger warning: This article contains mentions of death.
As early as 1993, Michael was incurring massive debts and by mid 1998 to about $140 million which corresponds to the time he was busy preparing for his HIStory album. Following the period to 2009 during which he died, his mouth-watering debt another upped by $170 million. Besides, he incurred higher interest rates on his loans which variably ranged between 7% and 16%. 8% annually, which we gathered from the testimony of accountant William R. Ackerman.
His financial issues were also pretty serious: to cope with it, Jackson had used the rights to song catalog including Beatles hits as the security for the approximately 270 mln dollars owed to Bank of America. These loans were later sold to Fortress Investment Group in 2005 this company deals with distressed debt.
The use of his song catalog shows Jackson’s various efforts to reduce the amount of debt and it shows another innovative approach that the star made to ensure that he minimizes his problems in the financial department while facing a continuous build-up of the problem.
Former AEG CEO discusses Jackson's financial struggles and legacy
Former AEG Live Chief Executive Officer Randy Ph
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