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Court documents show Michael Jackson was more than $500 million in debt at the time of his death

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At the time of his death on June 25, 2009, Michael Jackson was owed more than $500 million, based on recent court documents obtained by Michael Jackson. People Thursday.

The King of Pop, who died at the age of 50 from cardiac arrest, reportedly had “excessive spending habits” and was having to repay “an accumulating debt of $30 million a year,” People magazine reported, citing Los Angeles Times.

On the night of Jackson’s death, he rehearsed for six hours at the Staples Center for his upcoming “This Is It” residency at the 02 Arena in London. The “Beat It” singer reportedly underwent several “grueling” dress rehearsals in preparation for performances scheduled for July 2009 to March 2010.

When Jackson’s family sued AEG-Live for wrongful death in August 2013, auditor William R. Ackerman testified on behalf of the company, based on the LA Times. During his testimony in a downtown Los Angeles courtroom, Ackerman spoke about Jackson’s funds, revealing that the singer spent money on travel, gifts, furniture, art and charitable donations.

Michael Jackson performs on stage during the “HIStory” world tour on November 10, 1996 at Ericsson Stadium in Auckland, New Zealand. (Photo: Phil Walter/Getty Images)

“He spent a lot of money on jewelry,” Ackerman told jurors at the time. “He was exhausted.”

Jackson began racking up debt as early as 1993, based on the LA Times. By 1998, he reportedly owed $140 million, and Jackson’s debt grew by nearly $170 million between June 2001 and June 2009. Interest on Jackson’s loans rose during that time, starting from nearly 7% to 16.8% annually, based on Ackerman’s testimony.

This New York Times in 2006 reported that Jackson used his shares of the song catalog – which included songs by The Beatles – as collateral for nearly $270 million in Bank of America loans per person. said Randy Phillips, former CEO of AEG Live Rolling Stone that Jackson “wanted people to see his work, not just talk about his lifestyle.”

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“Michael was a very smart marketer,” Phillips said in a 2009 interview. “People say he was weak and manipulative, but he was powerful and manipulative. He was ready,” Phillips told the publication. “He desired to get his funds in order. He was able to stop living like a bum and calm down and make cash again.

Jackson’s estate was reportedly saddled with the late singer’s debt after his death. Concert promoter AEG was owed about $40 million, based on the estate’s petition, based on People , “and (there was) little hope of generating income from (Jackson’s) already heavily indebted assets.”

According to documents filed in March 2024, foreclosure attorney John Branca, A&R executive John McClain and their legal advisors Jonathan Steinsapir and Saul Ewing claimed the estate was on the verge of bankruptcy at the time of Jackson’s death. Michael Jackson’s net price is currently valued at over $2 billion, based on People magazine.

This article was originally published on : thegrio.com
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The art collector left his mark on TheGrio’s Masters of the Game

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In the next episode of Masters of the Game, hosted by Touré, we introduce you to Shirley and Bernard Kinsey, an influence couple who’ve dedicated their lives to preserving African American history through art and artifacts. Through greater than 50 years of marriage and a shared passion for education and history, the Kinseys have built one of the largest and most influential private collections of African American history in the world.Kinsey collection— making them true champions of history, art and cultural preservation.

Art collectors

The Kinseys have long believed in the transformative power of education. For them, educating others means sharing the wealthy history of African-American culture through art and historical artifacts. Their collection includes works by iconic artists similar to Ernie Barnes, Charles Alston and Beauford Delaney, but it surely is their collection of rare historical documents that actually stands out. Among their treasures is a heartbreaking nineteenth century letter delivered by an enslaved girl who couldn’t read – she was sent from one plantation to a different under false pretenses. The next work of their collection is Zora Neale Hurston’s brave and hilarious letter to her ex-husband, during which she asks him to remain out of her life ceaselessly.

From humble beginnings to becoming one of the most influential black couples of our time, Toure’s conversation with the Kinsey family takes us on a journey through the depth, resilience and radiance of African-American culture. Their collection not only preserves history, but additionally inspires future generations to inform their very own powerful stories, making the Kinseys true masters of the game. Don’t miss this episode of “Masters of the Game” at 8 p.m. ET on Friday and 1 p.m. ET on Saturday on TheGrio Cable Network.

This article was originally published on : thegrio.com
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Hugh Jackman’s attempt to silence the doubters in the face of criticism over his scandalous affair with the Broadway actress during their 27-year marriage backfired

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Australian actor Hugh Jackman (56) is in the crosshairs of Internet users due to accusations that a member of the forged of “The Music Man” on Broadway cheated on his then-wife with her friend.

Jackman married Deborra-Lee Furness, 68, in April 1996, after meeting the Australian while filming the TV show “Correlli” in 1995.

Recent reports suggest that Jackman began dating “The Music Man” actress Sutton Foster, 49, while still married to Furness. At the same time, Foster was married to screenwriter Ted Griffin before the couple split in 2024.

“Deadpool and Wolverine” star Hugh Jackman was accused of cheating on his then-wife Deborra-Lee Furness (left) with his “The Music Man” co-star Sutton Foster (right). (Photos: thehughjackman/Instagram; musicmanbway/Instagram)

People flooded into Jackman Instagram page condemn the ‘Deadpool and Wolverine’ star for alleged infidelity. Many critics are harshly criticizing him on his recent posts.

For example, an upset Instagram user commented: “I’m upset. I believed you were a very good guy. I used to be flawed.

In addition, someone wrote: “An affair with an actor is very unprofessional.” A 3rd person replied: “I know right! And he hid it for his image! I feel very sorry for his children and wife.”

On one other one Instagram post On Jackman’s behalf, a disgruntled fan declared, “A man who cheats on his wife doesn’t deserve my respect, much less my following.”

In response to this backlash, Jackson attempted to silence the noise and naysayers by limiting comments on his posts.

However, a supporter of the Tony Award winner responded: “So many persons are concerned about his personal life. Worry about your individual people, rattling it.

Foster also faced backlash over her cheating scandal Instagram page.

“Stealing someone else’s man is crazy,” one person said. Another faultfinder commented: “I just came upon that you just and Hugh are literally destroying the house. “Wow.”

The foster family defender asked: “Why is this person’s private life our business? Why is it that when they hear something that is essentially a “gossip,” complete strangers feel entitled to KNOW what’s true, after which feel entitled to judge and condemn?”

Despite negative reactions on the Internet, “Nas” weekly. reported that its alleged source said Jackman and Foster are having fun with a “great next chapter” as romantic partners.

“They are happier than ever,” the source said. Apparently their romance began while they were starring in “The Music Man” on Broadway.

Additionally, an individual reportedly close to Foster claimed that her relationship with Jackman led to his divorce from Furness. The case allegedly overlapped with Foster and Jackman’s separate marriages.

“Our journey is now changing and we have decided to separate to continue our individual growth,” Jackman and Furness said in a press release. People following their separation in September 2023.

Their statement added: “We greatly appreciate your understanding in respecting our privacy as our family navigates this change in each of our lives.”

Furness sparked speculation about her views on her ex-husband’s recent girlfriend by liking a post on the gossip blogger’s Instagram in which she claimed Jackman “blindsided” her by “eloping with his lover.”

However, Daily Mail. reports that her alleged insiders say Furness won’t go further than clicking a heart on Tasha Lustig’s Instagram post.

But Furness was apparently aware that Jackman and Foster had began dating before she split from the father of her two adopted children, Oscar, 24, and Ava, 19.

“Deborra-Lee had her suspicions when Hugh started working with Sutton,” an anonymous source said, according to the Daily Mail. “Their relationship is no secret to her.”

While his personal life has turn into gossip fodder this 12 months, Jackman also enjoyed box office success with the superhero film “Deadpool and Wolverine.”

The thirty fourth Marvel Cinematic Universe film grossed $637 million domestically and $1.3 billion worldwide. “Deadpool and Wolverine” is currently one of the most watched movies on the Disney+ streaming platform.

Jackman reprized his role as Wolverine from the “X-Men” film series in the film directed by Shawn Levy. Ryan Reynolds returned as Deadpool in the third installment of the Deadpool trilogy.


This article was originally published on : atlantablackstar.com
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LaMelo Ball Charlotte turns heads as she arrives at the game in Scooby-Doo’s “The Mystery Machine.”

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LaMelo Ball, LaMelo Ball Charlotte Hornets, LaMelo Ball Mystery Machine, Scooby Doo Mystery Machine, Scooby Doo, theGrio.com

CHARLOTTE, N.C. (AP) – Say what you’ll about Charlotte’s LaMelo Ball, but there isn’t any denying the 2022 NBA All-Star has a mode all his own.

The Hornets point guard turned heads on Thursday night when he I drove as much as the Spectrum Center for the team’s game against the Detroit Pistons in a colourful Hummer a reproduction of Scooby-Doo’s “Mystery Machine” – only rather more expensive than the one Shaggy and Velma rode in the kid’s cartoon.

Ball, a lover of enormous dogs, promoted the release of his Scooby-Doo x Puma MB.04, which might be released on November 27.

Ball wore vivid, multi-colored Puma shoes during warm-ups after which become vivid orange shoes for the match.

After the Hornets won 123-121 in extra time, Ball said he liked how his rental equipment was dressed up.

Ball, nonetheless, stopped in need of saying he might try to purchase one, joking, “I already have a Hummer, so I wouldn’t even bother.”

This article was originally published on : thegrio.com
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