"Many of us will be more successful in life if we study his life and his approach on things and how he did things, whether with his own art or in the business side of things."
A comment on Forbes article regarding MJ's business genius:
“I have great fascination for Michael Jackson when it comes to his business side. I'm glad you brought up this topic because very few people know that the debt you mentioned is actually a BUSINESS LOAN which he made ($300 million USD) in order to purchase a 2nd, much modern music catalog in 2006-2007. This is not extraordinary when you have assets worth 1 billion and above, Donald Trump has more loans than he does. Based on the terms of the loan with Bank of America, that loan is being paid for MONTHLY for a span of 6 years, and he did it by funnelling the earnings of the NEW catalog he bought to pay for the loan itself. If you realize what he is doing, that is another genius move he adopted from his great businessmen friends – taking advantage of LEVERAGE. Acquiring something without letting out a single centavo of your own money.
I believe that unlike MANY or probably the REST of the business people in the world, he is not driven by money. This is what made him successful in everything he ever did. Rather, he uses money to help others rather than to keep it for himself which explains why his entire $200+ Million earnings for the Dangerous Tour WENT TO CHARITY. Thats 70+ concerts in jampacked stadiums in the world which he performed with blood, sweat and tears absolutely FREE because all earnings went to charity. Same with his Victory Tour earnings- countless hours of hardwork he did for FREE to help others making up his total charitable contributions to $350 Million USD- the largest ever for an entertainer in History. I dont see anyone else doing that kind of hardwork for FREE, only Michael does that.
The ATV catalog is much more than Beatles songs, its thousands and thousands of songs that were popular in the 50s, 60s 70s and 80s. Add the 2nd modern catalog and you have virtually EVERYONE who is ANYONE in the music industry right now: Taylor Swift, Eminem, Beyonce, Lady Gaga and Justin Bieber songs which his estate is profiting from right now. He doesn't even need to release new music, because he earns from virtually everyone in the TOP 10 of billboard artists year after year. He bought this 2nd catalog WAY BEFORE these names became famous which means he had perfect unbeatable foresight. No business tycoon can match when it comes to the music business, Michael Jackson KNOWS IT ALL when it comes to music and entertainment: What the public likes, what the public dont like, even what the public dont know they like which they eventually LOVE - HE KNOWS.
His shy demeanor is just a facade of a tiger businessman inside. He rarely speaks, but he ALWAYS listens and observes and absorbs. Many of us will be more successful in life if we study his life and his approach on things and how he did things, whether with his own art or in the business side of things. It's very easy to believe tabloid stuff about his finances but isnt it funny that tabloids have been reporting him bankrupt since 2000 YET you can never find Michael Jackson with an IRS issue–NONE. Think about all the other celebrities who went bankrupt and one common denominator is IRS debts they all had. Everyone has been reporting he will be selling his ATV share since 2000 but he died already and when billionaires and media moguls lined up to offer billions to purchase his 50% stake, his own Estate DECLINED them all.
Michael Jackson’s only weakness is not spending or shopping, its TREATING everyone better than they deserve. This is why he became a target for leeches and scums".
The original source given for this article was : http://blogs.forbes.com, but I got it from: http://www.thesilencedtruth.com/index.php?
picture source: facebook
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