By now you should have all heard about Michael Jackson’s death. Although it is tragic that such a pop icon could die at such a young age, so much of the news coverage seems to be focusing on the bizarre aspects of Michael Jackson’s life, what appears to be a serious drug addiction and his financial debts. When Michael passed last week, he died in debt to the tune of approximately $500 million, at least if the reports we are hearing turn out to be accurate. What seems to have started Michael’s financial decline was when in 1993, he paid the family of 13 year old Jordy Chandler, $22 million dollars to settle the lawsuit they had pending against him. From that point forward he was not really viewed the same, his last album was a failure and yet his taste for expensive things and his ability to spend became legendary. But did you know that in 1985, Michael Jackson paid $47.5 million dollars to purchase and ATV Music Publishing, which happened to own the copyrights of more than 200 songs written by the Beatles’ John Lennon and Paul McCartney? While Michael Jackson will likely be remembered for many things, perhaps right now we should focus on what he did that made him the icon he was. There will be plenty of time later for the sordid details, and the unsavory side of the pop legend, but there were aspects to Michael’s life that demonstrate him to be almost a Renaissance man; namely Michael the inventor, Michael the King of Pop and Michael the shrewd businessman who say the value of owning perhaps the most lucrative copyright portfolio of all time.
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