It is estimated debts of Michael Jackson

It is estimated debts of Michael JacksonAs has been widely reported in the press, the king of the pop scene Michael Jackson was on the verge of bankruptcy.He had $ 300 million of the company Fortress Investment Group is the lender who was holding his debts. But, as it turned out, in the assets Michael had a much larger one that would allow the singer to not only get out of debt, but also to continue a comfortable existence.Pop star shares owned music catalog, which owns the rights to over 200 songs by popular artists including The Beatles, the best works of Bob Dylan and hits Joni Mitchell and Stevie nicks. Its share in this catalog is measured, according to experts, at 1.15 billion dollars.Jackson repeatedly advised to sell the share directory, but according to rumors, the singer had for him an emotional attachment, especially to the songs of The Beatles, and this deal he couldn't conduct.In the end, Michael decided to take the credit, but my requests, he refused. As writes British newspaper the Sun, in order to get a loan, Michael signed a contract with one of the largest private concert venues in Europe, which holds about 20 thousand visitors, - O2 Arena (London) on 10 solo concerts.He provided the Bank with the paper, according to which the singer was guaranteed to profit from his performances in the amount of $ 38.5 million. As a result, the credit, the singer received. The singer was supposed to repay the Bank $ 300 million within 18 months.Presumably, this vanity with debts and loans could provoke severe health singer, exhaustion and sudden death. Although, as said Ken Ehrlich, Executive producer of the Emmys, just a couple of days before his death, Jackson felt great and rehearsed their future performances with incredible dedication.In addition, Michael Jackson was supposed to pay back the loan in the amount of $ 23 million for his ranch in Santa Barbara called Neverland and 4 million for the home in Encino, close to Beverly hills, which was founded by the singer. Another $ 4 million the singer owed on other loans.But the assets directory is not all that it was Jackson. 73.5 million dollars a singer could get from the sale of their property. His archival materials are estimated at 20 million, and Studio equipment - $ 1 million. Michael could sell the rights to their songs and to get them for $ 85 million. 20 million - the price of the cars belonging to the pop idol, and Antiques, so beloved to them.In total, the assets during the life of Michael Jackson was 1 billion $ 360 million. And all his debts - only 331 million.Besides the singer took care of a bed of roses children after his death. Recently it became known that the late king of pop Michael Jackson has secretly created 200 new songs. He gave the right to these records to the Fund created for their children. Lenders Jackson will not be able to access the funds obtained from the sale of these songs, as they secure a special status. This collection is estimated at $ 100 million. Source: Estimated debts of Michael Jackson.

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