Thanks to FoxNews.com we have discovered that the former Michael Jackson was lavishly spending almost $2.5 million a month on the Neverland Ranch and the maintenance of the property and it's entertaining sights. $2.5 million a month for a huge house, some mid-way rides, and some exotic animals? I clearly understand Jacko's way of thinking.....NOT!!!!!
Michael Jackson was deeply in debt. According to the excerpt from FoxNews.com...."Michael Jackson left behind $400 million worth of debt". Michael Jackson had produced "Thriller", the best-selling album of all time. He had multiple number 1 singles. How on earth did Michael Jackson manage to rack up so many unpaid bills.
Michael Jackson had not put out any significant new material since 1997. He had racked up tens of millions of dollars in legal fees. These fees came from his child molestation trial. Michael Jackson was also notorious for his spending. FoxNews.com reported he had 75 card registered under his name.
It has been reported that Michael Jackson's household expenses totaled over $300,000. Documents filed in Los Angeles Superior Court detailed spending of $95,700 on gardening, security costs of $51,900, zoo/amusement park upkeep of $66,200, and housekeeping/PR expenses of $60,200. That is just Michael Jackson's housekeeping expenses.
Michael Jackson had also racked up unbelievable personal expenses. His personal/property insurance cost $120,000. He spent $25,600 caring to his medical needs. Michael Jackson was also a gift giver. He spent $42,600 on gifts. Yet, he only spent $100 a month on entertainment. I guess the entertainment does not count Neverland Ranch. The dollar figures came from FoxNews.com.
Looking at Michael Jackson's monthly expenses it is easy to see a problem. His monthly expenses totaled $2,339,300. A staggering amount, even for a Double Diamond superstar.
Do I have an Accounting Degree? Not officially, I'm working on it. But any high school graduate can add and subtract. Breaking this all down to an annual amount, it appears that MJ was spending almost $30 million a year to keep the "creepy" Neverland Ranch up and running. Now if you were to add in his other "dirty habits" such as multiple plastic surgeries, prescription pain pills, multiple underage sleepovers and slumber parties, and the lawyer fees for fighting off allegations of child molestation, then it would go beyond the estimated 30 million. Either way you look at it, the fact is, when you start spending more then you make, you end up going broke. If you don't believe me then ask Suze Orman.
Goodbye to not only a musical icon but also the King of Pop. R.I.P. MJ. Make sure you don' catch any new criminal charges up there. We know you love them "Barely Legal" Angels.
Michael Jackson was deeply in debt. According to the excerpt from FoxNews.com...."Michael Jackson left behind $400 million worth of debt". Michael Jackson had produced "Thriller", the best-selling album of all time. He had multiple number 1 singles. How on earth did Michael Jackson manage to rack up so many unpaid bills.
Michael Jackson had not put out any significant new material since 1997. He had racked up tens of millions of dollars in legal fees. These fees came from his child molestation trial. Michael Jackson was also notorious for his spending. FoxNews.com reported he had 75 card registered under his name.
It has been reported that Michael Jackson's household expenses totaled over $300,000. Documents filed in Los Angeles Superior Court detailed spending of $95,700 on gardening, security costs of $51,900, zoo/amusement park upkeep of $66,200, and housekeeping/PR expenses of $60,200. That is just Michael Jackson's housekeeping expenses.
Michael Jackson had also racked up unbelievable personal expenses. His personal/property insurance cost $120,000. He spent $25,600 caring to his medical needs. Michael Jackson was also a gift giver. He spent $42,600 on gifts. Yet, he only spent $100 a month on entertainment. I guess the entertainment does not count Neverland Ranch. The dollar figures came from FoxNews.com.
Looking at Michael Jackson's monthly expenses it is easy to see a problem. His monthly expenses totaled $2,339,300. A staggering amount, even for a Double Diamond superstar.
Do I have an Accounting Degree? Not officially, I'm working on it. But any high school graduate can add and subtract. Breaking this all down to an annual amount, it appears that MJ was spending almost $30 million a year to keep the "creepy" Neverland Ranch up and running. Now if you were to add in his other "dirty habits" such as multiple plastic surgeries, prescription pain pills, multiple underage sleepovers and slumber parties, and the lawyer fees for fighting off allegations of child molestation, then it would go beyond the estimated 30 million. Either way you look at it, the fact is, when you start spending more then you make, you end up going broke. If you don't believe me then ask Suze Orman.
Goodbye to not only a musical icon but also the King of Pop. R.I.P. MJ. Make sure you don' catch any new criminal charges up there. We know you love them "Barely Legal" Angels.
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1 comment:
I am glad to know about this post! I will have this bookmarked on my PC just incase I will need it.
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