Published July 14, 2009
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 the Los Angeles Superior Court in September of 1999 show that Jackson spent $95, 700 on the gardening alone to maintain the sprawling Neverland Ranch. Security costs totaled another $51,900. Upkeep on his famous zoo/amusement park was another $66,200 and housekeeping/PR expenses stood at around $60,200 bringing the grand total monthly household expense to an astonishing $358,600. Colony Capital, the company that bought Neverland in 2008, is now responsible for the ranch's maintenance.
When it came to personal expenses, the court documents show Jackson reportedly forked out $178,100 on legal services, $120,000 on personal/property insurance, $25,600 on medical needs, $42,600 on gifts -- but only $100 a month on entertainment. Overall, his personal expenses were estimated at $1, 420,600 monthly. In addition, MJ spent $85,500 on transportation and a further $475,200 on MJJ Productions and Optimum Productions.
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.
Pop Tarts spies spotted the "Crash" star celebrating a friend’s bachelor party at the infamous Sapphire Gentleman’s Club in Sin City on Wednesday night, but after hanging with his buddies and chatting up the dancers for about two hours we caught Dillon sneaking away …
Where did he go?
For a private half-hour lap dance in the VIP, of course.
That same night "Superman" alum Dean Cain visited Sapphire with a gal pal and some friends. The group finished off a bottle of vodka before heading to their next destination.
"Real Housewives of New Jersey" star Danielle Staub dancing behind the DJ booth as DJ AM spun at the opening of Dusk in AC last Saturday.
Michelle Trachtenberg and Lance Bass sipping vodka specialty cocktails with a group of friends at Hudson Terrace in New York City on Tuesday.
Sophia Bush talking about how she was learning to surf in North Carolina to get in shape (until she found out there were 12,000 sharks in the water) while partying at the launch of the new OP campaign OPen Campus at Mel's Diner in West Hollywood on Tuesday night. A not-so-grateful Brittny Gastineau was seen rudely giving away her goodies outside the star-studded bash.
Leonardo DiCaprio riding his bicycle to the Solstice Sunglass Boutique on Spring Street in Soho with 3 other friends on Wednesday. "The Aviator" star shopped for 45 mins, coincidentally purchasing 5 pairs of aviator sunglasses.
Billy Crystal and Bob Sagat hanging out at the Ahmanson Theatre in Los Angeles for opening of "Monty Python’s Spamalot" on Wednesday night.
Rapper/actor Ice T and wife Coco enjoying each other and the Manhattan skyline from a Riverview booth at Weehawken's Chart House on Wednesday evening. Sipping a white russian cocktail, the "Law and Order: SUV" star amiably chatted up fans who stopped by to ask how the show's going ("shooting just started monday, thanks very much").
New York Knicks’ Chris Duhon eating appetizers and hanging out with retired NBA star John Starks who sipped Grey Goose Vodka and cranberry cocktails at Gotham magazine’s launch party for Suunto’s Elementum watch collection at Sho Shaun Hergatt at The Setai, New York on Wednesday.
Emilie Hirsch being his usual elusive-self while partying at Hollywood hotspot Madame Royale on Wednesday night.
Montel Williams enjoying breakfast with a friend at Mr. Lucky's inside the Hard Rock Hotel & Casino in Vegas on Thursday.
Entrepreneur, adult-film superstar and new mama Jenna Jameson enjoying Holly Madison's topless performance at the 9 p.m. showing of "Peepshow" at Planet Hollywood Resort & Casino on Thursday. Earlier in the night Jameson dined with her man Tito Ortiz at the hotel's Strip House.
English rockers Duran Duran popping into the private dining area of Nove Italiano in Vegas for a late dinner with friends after their performance at The Pearl.
Leighton Meester enjoying dinner with Sebastian Stan at Rare120 inside the Hard Rock Hotel & Casino in Vegas on Saturday night before doing an impromptu performance of her not-yet-released single "Front Cut" at club Body English.
Super Bowl champion Eli Manning flying Continental First Class from New Orleans to Newark on Sunday morning.