with the sad passing of Michael Jackson, there is also a lesson about finical that we can learn from the King of Pop.
we all know that Michael Jackson is reportedly in debt.
It maybe hard to believe someone with the success that MJ had would have money problems until you realize that his money problems where really do to the King of Pop living well beyond his means even with the amount he was making.
it's been well documented on the types of things MJ has spent his money on such as the elephant man's bones, wild animals and Neverland ranch (and it's up keep) etc.
the thing is beside his personal finance Michael Jackson is usually was a good business person. he owned half a stake in Sony ATV music publishing (who owned the rights to a songs form such acts as the beetles, lady gaga, Jonas brothers and many more high profile singing acts) as well as making millions in merchandising.
but even on the business end MJ has made a few mistakes such as budgeting for his last album. Micheal Jackson and sony spent $50 million to produce Jackson's last album Invisible. But if they looked at money made from the last two albums returned at a much lower amount. History only made $35 million and Blood on the dance floor only made $10 million.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment