Jacko pleading poverty?
Michael Jackson does have problems, but they’re not of the financial kind.
Despite reports that the Gloved One is plagued by money woes stemming from numerous debts, the pop star is still bringing in the bucks.
Jackson, whose financial affairs have been taken over by no-nonsense brother Randy, cried money problems this year when his $150 million worth of debt came due.
But his loans were recently renegotiated, and he still has $500 million in assets, including half of the Sony/ATV Music Publishing song catalogue, which brings him $40 million a year alone.
“With every successful entrepreneur, there’s going to be an ebb and flow in finances,” Jacko’s financial adviser, former EMI chief Charles Koppelman, told us.
The catalogue contains more than 4,000 songs by the Beatles, Elvis Presley, Fleetwood Mac, Dr. Dre, Sheryl Crow, Marc Anthony, Neil Diamond and Destiny’s Child, in addition to classics by Hank Williams and Roy Orbison.
So the next time you download “Your Cheatin’ Heart” or “Suspicious Minds,” coins will roll Jackson’s way.