Michael Jackson Estate Huge Financial Gains Revealed
[size=14pt]Michael Jackson Estate<br />Huge Financial Gains Revealed[/size]<br />9 minutes ago BY TMZ STAFF<br /><br /><br /><br />New documents reveal ... Michael Jackson was in such debt at the time he died, his Beatles catalog was almost valueless, but the Estate has worked nothing less than a financial miracle to right the ship.<br /><br />The docs -- obtained by TMZ -- show that at the time Michael died, his net worth was around $50 million. Shockingly, the AT Publishing Trust -- the Beatles catalog -- was valued at only $474,544. We're told the reason it was so low was because Jackson had borrowed around $300 million against it.<br /><br />Now, fast forward to October, 2010 -- 15 months after MJ's death. The net value of MJ's estate -- under the leadership of the Executors -- swelled to $218,964,000. And get this ... that figure doesn't include $185 million the Estate paid out for loans, family allowances, interest, paying off the Havenhurst mortgage, etc.<br /><br />There are no figures for the current value of the Estate, but sources say it's worth much more than the valuation in October, 2010.<br /><br />Short story -- Michael could be entering Elvis territory.<br /><br />http://www.tmz.com/2011/08/24/michael-jackson-estate-the-bottom-line-reveals-a-bonanza-huge-financial-gains-debt-beatles-catalog-publishing-trust-borrowed-money-elvis/
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