They were once music’s most famous family, but the Jackson clan is now desperate and broke.
As Michael Jackson struggles to hold onto his iconic Neverland ranch, it’s not just the former King of Pop who is facing financial ruin.
Despite being one of the music industry’s most successful families — they have sold more than 300 million albums combined — a series of bad investments and get-rich-quick schemes have reportedly wiped out much of the fortune earned by the Jackson 5.
Adding to his family’s woes, Michael’s contempt for them has left them high and dry. The star’s former long-time communications director Bob Jones is quoted in the New York Post as saying: “Michael’s mission was to make sure his family was broke, and he accomplished that through the music industry, which mostly kowtowed to him.
“We were always ordered by Michael to keep his family away from his offices and out of his business. He hated them. He wanted them broke.”
For the full story, see this week’s Woman’s Day (on sale March 31).
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