(*this post has been edited from its original version, which was posted July 12, 2009 at 22:06 CEST)
On the 2009 Forbes List of Wealthiest Black Americans, Michael Jackson, somehow, didn’t make the list. He should have. Here’s the top 20, for your information:
Net Worth
#1 – Oprah Winfrey – $2.7 billion
#2 – Tiger Woods – $600
#3. Robert Johnson – $550 million
#4. Michael Jordan – $525
#5 Earvin “Magic” Johnson, Jr. – $500 million
#6 William Henry Cosby, Jr. – $450 million
$7 Sheila Johnson – $400 million
#8 R. Donahue Peebles – $350 million
#9 Berry Gordy, Jr – $325 million
#10 Quintin Primo III – $300 million
#11 Don King – $290 million
#12 Janice Bryant Howroyd & family – $250 million
#13 Herman J. Russell – $200 million
#14 Ulysses Bridgeman, Jr. – $200 million
#15 Tracy Maitland – $150 million
#15 Shawn “Jay-Z” Carter – $150 million
#15 Alphonse Fletcher, Jr. – Net worth: $150 million
#18 Kobe Bryant – $140 million
#19 Shaquille O’Neal – $130 million
#20 Kenneth I. Chenault – $125 million
The Wealthiest Black Americans (Net Worth)
#1 – Oprah Winfrey – $2.7 billion
#2 – Tiger Woods – $600
#3. Robert Johnson – $550 million
#4. Michael Jordan – $525
#5 Earvin “Magic” Johnson, Jr. – $500 million
#6 William Henry Cosby, Jr. – $450 million
#7 Sheila Johnson – $400 million
#8 R. Donahue Peebles – $350 million
#9 Berry Gordy, Jr – $325 million
#10 Quintin Primo III – $300 million
#11 Don King – $290 million
#12 Janice Bryant Howroyd & family – $250 million
#13 Herman J. Russell – $200 million
#13 Ulysses Bridgeman, Jr. – $200 million
#15 Tracy Maitland – $150 million
#15 Shawn “Jay-Z” Carter – $150 million
#15 Alphonse Fletcher, Jr. – Net worth: $150 million
#18 Kobe Bryant – $140 million
#19 Shaquille O’Neal – $130 million
#20 Kenneth I. Chenault – $125 million
It’s odd Jackson didn’t make the list (I have emailed Forbes twice, notifying them of the omission). It has been reported that in 2007, Jackson had assets of $567.6 million, including Neverland and his share of the Sony/ATV Music Publishing catalog. He had $331 million in debt, for a net worth of $236 million, at the time, which should have placed him around 13th on Forbes’ list.
I’ll make a prediction. Michael Jackson’s net worth, at the time of his death, ranks him either just above, or more likely, just below Oprah Winfrey.
Allow me to explain, using some estimated numbers.
Michael Jackson’s Debt
A big deal is being made about Jackson’s debt, with articles like Michael Jackson died deeply in debt, estimating he died owing $400 million
dollars. Jackson’s estate will shrug at this figure. While Jackson did experience cash flow challenges, his assets, and his brand, are worth billions, far exceeding his hundreds of millions in debt.Michael Jackson’s Assets
- Sony/ATV Catalog worth an estimated $600 million to $5 billion. $1.5-$2 billion seems to be a more accurate estimate. Jackson’s 50% share would then be worth roughly $750 million – $1 billion, today.
- Michael Jackson’s MiJack Music Publishing company, which owns the catalog of his own songs, among those of other artists, has been estimated to be worth $100 million to $150 millon. That was while Jackson was alive. Today, I would estimate it to be worth closer to $500-$800 million. If MiJack Publishing went up for sale today, there is no chance it would sell for anywhere close to $150 million.
- The rights to Michael Jackson, a global brand, are an asset I cannot find any estimates for. I will go out on a limb, and estimate that Jackson is at least a billion dollar global brand. If you consider that Michael Jordan is estimated to be an $800 million dollar brand, and Lebron James is aiming for $1 billion, one day, the to estimate Jackson is a billion dollar brand is not unreasonable.
- I’d mention his real estate, but it’s insignificant, compared to his other assets
My estimation of his assets total $2.25-$2.8 billion, and debts total $400 million. That’s an estimated net worth of $1.85-$2.3billion. That puts him second, behind Oprah, on the Forbes list of Wealthiest Black Americans.
In relation to the value of the Michael Jackson global brand, consider the following numbers from this week:
- July 12th on
iTunes Top 100 downloads, Michael Jackson is represented 32 times. (Think about that one for a moment) Let’s say iTunes sells 42 million songs a week (
1 billion every 5 1/2 months), and if Jackson is 1/3 of the top 100, it’s safe to say Jackson sold at least 15 million songs on iTunes, this week alone. The real number is likely higher.
- According to Billboard, Jackson currently has the top 2 selling albums in the U.S., and 5 of the 6 top sellers in Europe.
- Billboard’s Hot Recurrent Charts – Jackson
currently holds all 10 spots
- Worldwide sales this week of his albums, singles, DVD’s and memorabilia are unmeasurable.
So to answer the question, was Michael Jackson the wealthiest black American alive? My answer is no, he was probably the second wealthiest, behind Oprah Winfrey. I won’t speculate on the future net worth of either Winfrey or Jackson. We may never know the true value of Jackson’s net worth, but it seems safe to say that at the time of his death, he could have been the second wealthiest black American alive.
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Cheers! Sandra. R.
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