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 Michael Jackson’s way of thinking…..NOT!!!!!
The article on FoxNews.com says….”Michael Jackson left behind a legacy of being an amazing artist but he also left behind $400 million worth of debt. And as the man who had the best-selling album of all-time (“Thriller”), has had the most No. 1 singles on the Billboard charts of any male and has won more awards than any other artist, many are asking how on earth he managed to rack up so many unpaid bills?
Aside from losing tens of millions of dollars during his child molestation trial, Jackson didn’t put out any significant new material since 1997. But more detrimental to his finances was his notorious big-spending. Last week we revealed his automobile fixation (he had 75 cars registered under his name) and according to financial statements at the time of his divorce to Debbie Rowe in 1999, his cost of living at the time averaged a whooping $2,339,300 per month.
Documents filed in Los Angeles Superior Court provide a glimpse into Michael Jackson’s lifestyle. Jackson spent $95,700 on gardening for Neverland Ranch. $51,900 for security costs. It cost $66,200 to upkeep Michael Jackson’s famous zoo/amusement park. His housekeeping and PR expenses stood at around $60,200. Total monthly household expenses equaled $358,600.
Michael’s personal expenses were just as astonishing. Property/personal insurance cost him $120,000. Gifts alone cost him $42,600. Medical needs also took a large chunk of money ($25,600). He did skimp when it came to entertainment, spending only $100 a month. Michael Jackson reportedly spent $475,200 on MJJ Productions and Optimum Productions. Curious, since he had not released a major piece of work since 1997. Monetary figures were used from FoxNews.com.
Overall, it would cost $2,339,300 to live the life of Michael Jackson for just one month. And that would likely put anyone in debt.”
Now I don’t have a degree in Accounting (yet), but I can do the math. That’s almost $30 million a year that was being spent on the Neverland Ranch alone. This is not including all the plastic surgery, pain pills, underage birthday parties, and court cost to fight “molestation” charges. And people are actually wondering why MJ was almost broke? Do the math people. When your bills are more then your gross income, you go into debt. Now I’m no Suze Orman but i think I’m on the right track.
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.
