Thursday, October 03, 2013

Jackson Family Get No Money From Jury

Yesterday afternoon the jury in the Michael Jackson wrongful death trial against AEG which would have made them billions of dollars if successful ended up getting them nothing. The jury decided that AEG hired Dr. Murray but that he was competent and that AEG wasn't liable for Michael Jackson's death.

If the family had won then Michael's brothers were going to walk away with more money than they had seen in their collective lifetimes and I get the feeling they would have blown a lot of it. As much money as they did make in their lives they never seem to have any and people are always chasing them down for money and they hide it in various shell accounts so debt collectors can't find it. Janet has money. Michael's kids have money. Does anyone else have any money?

The other problem I have with the suit is they wanted billions of dollars. Michael Jackson barely worked and was so poor he couldn't even afford to buy a house because he spent his money on daily shopping sprees and borrowing against future earnings. I think even if the jury had found for the family they would have been shocked at how low the award would have been.

They think he was worth Thriller money and forgetting there were three decades of Meh in between that success and his death. The kids are going to be worth something because Michael did have a lot of royalties and since the kids can't spend it all right now it will accumulate and they won't start burning through it until they are older.

28 comments:

Freya said...

Greedy.

Rach Around said...

My thoughts exactly. Greedy greedy greedy.

Count Jerkula said...

To bad it wasn't a loser leaves town match.

Freya said...

Any updates on Paris Jackson and her brothers? Couldn't care less about the rest of them.

Its just U said...

The person responsible for Michael Jackson's behaviour, and consequences of that behaviour, is Michael Jackson.
They need to stop looking for excuses. And a payout.

Freya said...

No Money in the Bank briefcase for them.

Rafi said...

I was laughing about this with my sister yesterday. Who the f#$k sues someone for BILLIONS of dollars? I reminds me of those insane lawsuits where someone slips and falls and sues for 100 million dollars in pain and suffering. Go and and get jobs people.....the rest of society does.

MISCH said...

No way they were going to win this...

Henriette said...

They went through MJ's dirty laundry for nothing.

Kels said...

Hes a child molester and his family is greedy- no sympathy here.

discoflux said...

Hahahaha! Love it, Freya!!

surfer said...

Well said, Its just U. The Jackson family are nothing but blood-sucking, greedy people. Michael, and Michael alone, was responsible for his downfall.

The lawsuit was about lost potential income, but Michael hadn't performed in eons. He was in such bad shape physically, that potential wasn't even a possibility.

Robert said...

I figured all along that that was a case of Jackson's family trying to cash in, yet again, on his commercial success.

Topper Madison said...

Umm...MJ owned the Beatles publishing rights. He and his heirs are rich in perpetuity.

Again, what 20-year-old intern is writing this crap? This post was obviously not written by an entertainment lawyer--or even anyone with any experience in entertainment whatsoever.

zenss empirez said...

what do you expect from a family who raised a pedophile? those boys didn't get justice in court against michael but they will get justice in some other way.

Anna Katherine Nonymous said...

Agree

audrey said...

Next up on law suit of the decade...the Jackson Family vs the makers of Propofol. Someone has to be held accountable for the death of their meal ticket.

Its just U said...

Michael borrowed heavily against the Beatles catalogue and owed millions. There is money, but not as much as people think.

D Brown said...

Its just U - also there are estate taxes and a whole pile of legal and administrative costs to settle all of MJ's lawsuits etc. That being said there was increased interest in him after his death and licensing revenue took a substantial uptick. Basically, by the time his children come of age, the debts will be paid off and they will inherit the song catalog revenues.

auntliddy said...

I didnt at all think they wld win. MJ knew exactly what he was doing, no one to blame but himself. And Im amazed there is any money AT ALL for kids and dont know where the hell their giant monthly payments come from.

Lola said...

I think (because of his debts) that people assume Michael was broke at the time of his death. He wasn't (he did have a cash flow problem). His net worth (for estate tax purposes which accounts for debt) was somewhere between $500m and $1.5b (the latter # is the irs claim in a current case claiming the estate owes $750m in estate taxes).

There are some fairly exhaustive details in various Forbes articles, primarily by a Forbes writer named Zach (forget his last name) who is writing a book about Jackson.

Whether or not the irs is successful in its claim, the kids will have more than enough money for life. (I believe Katherine's 40% is a life estate and becomes part of the kids' share after her death).

NaughtyNurse said...

Conrad Murray was completely incompetent and partially at fault for Michael's death, but that is not AEG's responsibility. Michael was a drug addict, and he found an egotistical, greedy doctor who would give him what he wanted. That is what killed him.

Little Miss Smoke and Mirrors said...

Glad the jury did the right thing. For once.

Rose said...

I thought I'd read he had around $200 million left after he died. I don't know how he can have nothing with the way his family has swarmed his kids like vultures hoping to get it. I'm pretty sure one your personalities have said the same Enty.

Squeezebox said...

The Sony/ATV catalog has already begun losing the Beatles copyrights. The oldest copyrights have begun to expire as of this year. The Lennon estate and Paul McCartney have been waiting all these years to reclaim their copyrights.

There's no way they're going to re-up with Sony/ATV. Why should they? Why split the profits with a third party when they can manage the rights and keep all the money themselves? Especially after all these decades of seeing other people get rich off their compositions. McCartney has been especially bitter about that.

car54 said...

Good.

His brothers and sisters deserve nothing--they've sucked enough out of Michael.

His executors have made his estate more money than his kids will ever need. I just read an article about how much they had recovered because of renewed interest in Michael and his name.

This was unnecessary and they didn't deserve to win anything.

Cee Kay said...

I had understood that while Michael was cash-poor in life, upon his death his estate made a mint. It was the best thing that ever could have happened to him in terms of popularity; his music was selling again and last I had heard, his debts were pretty much cleared up and the estate was making money.

Sandy said...

One of my friends worked for one of Michael Jackson's [many] accounting firms, and he said a lot of Jackson's money went to his ever-greedy and grasping family. They literally sucked him dry, which is a big part of why he was on the skids toward the end of his life.

I'm glad they got nothing. Even after his death, they're still trying to wring money out of him.