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First of all you have to consider most stars get duped into lots of loser investments by shady financial advisors. Think how easy it would be to get a star as wacko as Jacko is to put money into kids related business deals. He probably gets sucked into the most ridiculous ventures all the time. That's the #1 way most celebs lose their loads quickly. Got to remember MJ is not a businessman. He's a singer and a dancer.
I have a friend of mine who wasn't an actor, but was in entertainment stuff. He built up about $250 Mil net worth in his 30's. Started with an entertainment marketing biz which is his skill set and made him his money, but then surrounded himself with oodles of advisors to find all sorts of other deals to expand into. Things he knew nothing about, nor took the time to learn about. Got into racehorse breeding and stables, a car racing team, real estate development, oil well drilling, and on and on. Then he went on the ego binge. Flying to exotic places in his private jet. Buying cars up the gazoo. Bought several mansions. The babes, the booze, the cocaine. Before long he said he couldn't even keep track of anything he owned, cause it overwhelmed him. Started to find out his advisors had bought a lot of companies that looked fine on paper but were in bad shape in reality. Before long more was going out then was coming in. Within 5 years the guy went from all that to bankruptcy.
Then these stars, especially ones like Michael require attorneys, agents, publicists, accountants, advisors, security people, household staff, plastic surgeons, designers, managers for all apsects of their activities and projects, flunkies, etc., all sorts of people to keep their stardom and lifestyle going. I'm sure his payroll alone is in the 8 figure range. Then you have the tax man taking his bite. Charities they have to support. Cars, estates, private jets, yachts, penthouse hotel suites, limo's, and on and on. That shit costs buckaroos.
On a $50 Mil income he probably goes through every penny the way he lives so extravagently.
Michaels best asset is his and the beatles song publishing rights catalog he owns. That's probably been the only thing keeping him afloat.
So bottom line its real easy to blow it even on the level he's at.
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