Micheal Jackson Finances worth $236 Million. Fight begins..

MJ. Finances worth 236 MIllion but he still faces more debt coming soon.

Another of Jackson’s prized possessions, his Neverland Ranch, is valued at $33 million, according to the report. The 750,000-song catalog includes music by the Beatles, Bob Dylan, Neil Diamond, Lady Gaga & the Jonas Brothers. The report puts a net value on Jackson’s 50 percent stake in the Sony/ATV Music Publishing catalog — his most prized assets — at $390.6 million. The accounting firm did not immediately return a call seeking comment.

Medical examiners in los angeles are perhaps weeks away from officially determining the cause of death. Jackson died Thursday of what his relatives has said was cardiac arrest. they also had $20 million worth of cars, antiques, collectibles & other property. It says Jackson took out a $23 million loan against the 2,500-acre property in the rolling hills of Santa Barbara County.

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The financial statement was based in large part on estimates provided by Jackson’s advisers that the accounting firm said it could not verify. The report was prepared at a time when Jackson had large sums of debt coming due that had to be refinanced. Jackson had $567.6 million in assets, including his Neverland Ranch, his share of the Sony/ATV Music Publishing catalog that includes the rights More Entertainment Photos Julia Stiles set for David Mamet play on Broadway 99 1 to songs by the Beatles, & an assortment of cars, antiques & collectibles, according to a statement of financial condition prepared by Washington, D.C.-based accounting firm Thompson, Cobb, Bazilio & Associates. they offer the clearest account yet on the state of Jackson’s financial empire, which is expected to become the focus of a legal battle between the singer’s relatives & creditors.

Highlighting his shaky financial health, the singer known for his lavish shopping sprees had  $668,215 in funds, according to the report, which is dated June 12, 2007. The five-page report says Jackson had debts of $331 million, leaving him with a net worth of $236.6 million. Still, the statement paints a pics of Jackson’s tangled finances & the mountain of debt they left behind. The documents obtained by the AP don’t show how much money they had coming in that year or how much they was spending, which makes it hard to estimate  how cash-poor they was.

The documents also show they had little funds on hand to finance his lavish lifestyle.  Michael Jackson claimed to have a net worth of $236 million as of March 31, 2007, according to financial documents obtained by The Associated Press that shed light on the late pop star’s murky finances & prodigious borrowing.

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