In '07, Jackson Worth $237M, But Cash-Poor, in Debt

By Harry Kimball,  Newser Staff
Posted Jun 30, 2009 3:01 PM CDT
In '07, Jackson Worth $237M, But Cash-Poor, in Debt
An aerial view of Michael Jackson's Neverland ranch.   (AP Photo)

(Newser) – As recently as 2007, Michael Jackson had a net worth of $236.6 million, the AP reports. But his finances weren’t that simple. Most of his $567.6 million in assets were tied up in property and rights—he had just $668,215 in cash—and his debt totaled $331 million. His largest asset by far was his 50% stake in the Sony/ATV publishing catalog, which includes many Beatles songs and was valued at $390.6 million.

A Washington accounting firm’s analysis reveals other details: Jackson’s Neverland Ranch was valued at $33 million, and Jackson took out a $23 million loan against the California property. Various cars, antiques, and other property were worth $20 million. The accountants said the report was “based on information produced by his advisers.” (Read more Michael Jackson stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X