Outrageous Spending Habits Of Michael Jackson

Thanks to FoxNews.com we have discovered that the former Michael Jackson was lavishly spending almost $2.5 million a month on the Neverland Ranch and the maintenance of the property and it’s entertaining sights. $2.5 million a month for a huge house, some mid-way rides, and some exotic animals? I clearly understand Jacko’s way of thinking…..NOT!!!!!

The featured article from FoxNews.com reported “Michael Jackson left behind $400 million worth of debt”. Many are asking how Michael Jackson could run up such debt? He owned a long list of valuable items. He owned the Beatles music collection. He was still receiving royalties from “Thriller”. Yet, he still managed to run up $400 million in debt.

Aside from losing tens of millions of dollars during his child molestation trial, Jackson didn’t put out any significant new material since 1997. But more detrimental to his finances was his notorious big-spending. Last week we revealed his automobile fixation (he had 75 cars registered under his name) and according to financial statements at the time of his divorce to Debbie Rowe in 1999, his cost of living at the time averaged a whooping $2,339,300 per month.

Documents filed in Los Angeles Superior Court provide a glimpse into Michael Jackson’s lifestyle. Jackson spent $95,700 on gardening for Neverland Ranch. $51,900 for security costs. It cost $66,200 to upkeep Michael Jackson’s famous zoo/amusement park. His housekeeping and PR expenses stood at around $60,200. Total monthly household expenses equaled $358,600.

Michael Jackson did not skimp on personal expenses either. FoxNews.com reported Michael as spending $178,100 on legal services, $120,000 on personal/property insurance, $25,600 on medical needs, and $42,600 on gifts, but only $100 a month on entertainment. I guess you could count the expenses for Neverland Ranch as entertainment. Overall, his personal expenses were estimated at $1, 420,600 monthly.

Looking at Michael Jackson’s monthly expenses it is easy to see a problem. His monthly expenses totaled $2,339,300. A staggering amount, even for a Double Diamond superstar.

While my degree in Accounting is yet to be official, I can still add and subtract. Almost $30 million a year just up keeping the Neverland Ranch? Are you serious? This does not even include his other guilty pleasures. Plastic surgery, anesthesia, narcotic pain pills, underage slumber parties, and the cost of lawyers to fight off “child molestation charges.” When you start racking up more bills then your total combined income, you will eventually find yourself in debt. I think Suze Orman would agree with me on this.

So, R.I.P. MJ, and stay away from the “Little Angels.

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