*When Michael Jackson died, basically, he was broke. Reportedly he was half a billion dollars in debt.
However, in death he is doing quite well. Between sales of his and savvy business deals, his estate in bringing more than enough to retire the debt.
If you’ve ever wondered what he spent his money on this Sunday’s “60 Minutes” (at 7pm E/P) could give you a clue. A whole bunch of them, in fact. Correspondent Laura Logan reports on Jackson’s turnaround and gets a private tour of some of the personal items that meant the most to him.
While the Jackson Estate amasses millions through The Michael Jackson Immortal Tour, an acrobatic performance to his music by Cirque Du Soleil, iTunes and album sales, his possessions sit in storage. Nobody knows what they are worth. It’s anybody’s guess at what they could bring at auction with the right people biding.
Karen Langford, a friend of Jackson’s who worked with him since 1981, is the archivist for the Jackson estate. She takes Logan for a tour of a warehouse full of Jackson’s memorabilia.
The tour begins, appropriately, with the Neverland sign sitting on the floor of the 20,000-foot warehouse. It once sat atop the gates to his famous compound that included an amusement park, zoo and his mansion.
Inside, Logan sees Grammy awards, a fleet of cars, antiques, video games, and some of the clothing he wore on stage. The sequined glove he wore on the Billie Jean Tour, worth an estimated $80,000, is kept in a safe on premises.
Read/learn more at CBS News.
Watch this preview of Laura Logan’s “60 Minutes” report: