December 1st 2003. Michael Jackson had broken all the records with his "Thriller" album. Many of his albums once generated tens of millions of dollars in sales, and he has made a fortune in buying the rights in popular songs after taking advance from formal Beatle Sir Paul McCartney.

Sir Paul has publicly stated that he regretted the advice he gave to Michael as the King of Pop actually out bided Paul on his own songs he was looking to buy the rights back on.

Forbes estimated his stake in Sony/ATV to be worth at least $350 million which includes catalogs for the Beatles and many Elvis Presley songs. Jackson bought ATV in 1985 for about $47.5 million and in a brilliant move sold it to Sony for about $95 million in 1995, retaining half interest!

Michael Jackson has an extravagant lifestyle and many of us were able to see him on a wild shopping spree in Las Vegas buying paining, urns, chess sets, and other items for millions of dollars in a matter of minutes. The opinion of most people we interviewed who saw his lavish shopping spree at the Venetian gift shop is that he bought the most garish overpriced crap imaginable, but then again, it's his money - or is it?

Even though he publicly announced he is worth "billions", Forbes magazine has estimated Jackson's net worth at only $350 million. Neverland in probably one of Michael's most valuable assets as well as one of best investments. In 1998 he paid $14.6 million for it and it is now estimated to be worth at least $50 million! The estate is not a cheap as it eats up about $3 million in annually in expenses. He also has property in Vegas, Encino and elsewhere.

It is well known that he is estimated at $200 million in debt. He has posted jewelry and his Beatles catalog as collateral for past loans and then there was the very public problem he had when he didn't pay a jeweler for a custom wrist watch worth more than many of us will make in a lifetime.

Some insider say his finances right now are so precarious he has trouble paying his bills - other experts say he is in great shape and will never worry about money due to his royalties, music catalogs and real estate investments.

We may never know the truth but it, buy it's all so much fun to speculate!