Overview
Michael Jackson was an American singer, songwriter, record producer, and philanthropist, with an estimated net worth of $600 million. He began his musical career in 1964 as a member of the Jackson Brothers, quickly becoming the lead vocalist alongside his brother Jermaine. The group later rebranded as the Jackson 5, achieving numerous chart-topping hits. Jackson launched his solo career in 1971 and went on to earn the title “King of Pop” due to his extraordinary success through albums and world tours. However, his life was also marred by controversy, particularly with allegations of child molestation surfacing in 1993 and 2003.
Financial Success
Following his death, Michael Jackson’s net worth continued to grow, with MJ Inc. generating over $1 billion in annual revenue. This surge was largely due to a lucrative record deal with Sony Music that extended until 2017, alongside successful concert films. Billboard conducted an extensive analysis of the various revenue streams flowing into the Jackson estate from 2009 to 2010.
Personal Life
Born on August 29, 1958, in Gary, Indiana, Michael Jackson achieved immense fame throughout his career. He married Elvis Presley’s daughter, Lisa Marie Presley, on May 26, 1994. Later, while on his HIStory Tour in Sydney, he married longtime friend Debbie Rowe in 1996, with whom he had two children: Paris-Michael Katherine and Michael Joseph Jr. His third child, Prince Michael II, was born on February 22, 2002, through an anonymous surrogate.
Tragically, just weeks before his highly anticipated This Is It concert series was set to launch at London’s O2 Arena on July 13, 2009, Jackson’s life came to a sudden end. He was pronounced dead on June 25, 2009, after emergency responders arrived at his rented mansion in Holmby Hills, Los Angeles.
Financial Highlights
Michael Jackson’s financial data reflects his significant earnings from various ventures:
- 2009: Sales of White Diamonds perfume – $53 million
- 2008: Annual revenue from Sony Music deal – $31 million
- 2008: Sale of rehearsal footage to Sony Pictures – $60 million
- 2008: Annual earnings from Mijac – $25 million
- 2008: This Is It DVD revenue in the US – $43 million
- 2008: Total earnings from This Is It concert film – $188 million
- 2008: Estimated value of Mijac music publishing – $150 million
- 1981: Record sales from Thriller (33 million copies sold in the U.S.) – $49.5 million
- 1986: Record sales from Bad (10 million copies sold in the U.S.) – $15 million
- 1994: Record sales from HIStory (7 million copies sold in the U.S.) – $10.5 million
Summary
Michael Jackson’s legacy as a transformative figure in music continues to influence artists today. Despite the controversies that marked his life, his significant contributions to the music industry and philanthropic efforts have left an enduring mark on popular culture.