We figure the first lawsuits will be filed the day after he’s buried.
While the rest of the world nostalgically sings Michael Jackson songs with their windows down, you know there’s a whole army of lawyers, credit-holders, relatives, producers, you name it, hoping to get a slice of Michael Jackson’s fortune (or lack thereof).
He’s probably been insolvent for years, but since when has that stopped anyone in America from living the good life.
BusinessWeek has a brief rundown of his finances (“Settling Michael Jackson’s Estate May Be A Thriller“), though there’s nothing too huge in it.
But we wonder if his untimely death is good news for Fortress Investment Group (FIG) the alternative asset manager, which owns a 50% stake in the Sony/ATV music catalogue, which controls his music and the Beatles. FIG acquired the stake after foreclosing on debts it had acquired from other creditors. Will the value of that songbook spike?