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Though many refer to Michael Jackson simply as “The King of Pop,” his full nickname—dreamed up by longtime pal Elizabeth Taylor—was “The King of Pop, Rock and Soul.” Perhaps another genre should be tacked on: Hip-hop.
Jackson’s influence on the rap world, including the members of the Forbes Five, can be seen in the copious sampling of his work by artists from Jay Z to Kanye West and in frequent shout-outs to the singer in verse, but also in the way that some of the business ventures they’ve made that mirrored those pioneered by Jackson.
The headlines that trumpeted Jackson’s late-life financial issues have obscured some of the brilliant moves he made early on—most notably his purchase of ATV, a publishing catalogue that contained the copyrights to most of the Beatles’ biggest hits. Sony later paid Jackson $115 million to merge the company with its own catalogue; the Sony/ATV joint venture is worth about $2 billion today.
Jackson also fundamentally changed the formula for monetizing fame by becoming the first pop superstar to develop a portfolio of modern brand extensions. His feats included launching his own clothing line, creating a record label, and releasing an eponymous sneaker; each member of the Forbes Five has subsequently done at least one of those things to help create their nine-figure fortunes.
“Michael Jackson was so much bigger than Jay Z or 50 Cent or anybody else who did it, in comparison,” says 50 Cent, in an interview for my forthcoming book, Michael Jackson, Inc: The Rise, Fall and Rebirth of A Billion-Dollar Empire. Jackson, he adds, is “why music is the way it is now . . . you’ve seen a shift in an area [previously] reserved for professional athletes.”
Full coverage: Hip-Hop's Wealthiest Artists 2014
Indeed, the likes of Michael Jordan are no longer the only entertainers racking up cash on sales of footwear and apparel. 50 Cent’s G-Unit line achieved sales of $55 million in its first year; in 2008, Jay Z and his partners received $204 million for the sale of his Rocawear brand. Diddy’s Sean John line is still going strong, and Birdman recently launched his own.
In many ways, one might say Dr. Dre’s Beats headphone line is the next step in the evolution of a concept that Jackson was instrumental in introducing. That company reportedly generated $1 billion in sales last year and could one day make Dre hip-hop’s first billionaire.
Jackson himself continues to earn from beyond the grave—over $700 million in the five years since he passed away, more than any living solo act of any genre over that time. That number should get a boost from the launch of his latest posthumous release, Xscape, due out May 13th.
The album, which features Timbaland as a lead producer, should provide a reminder of the symbiotic relationship between hip-hop and the King of Pop that dates back to HIStory. The singer’s 1995 album features an appearance by rap legend Notorious B.I.G., whom Jackson knew about long before the rhymester's stature in pop culture came to match the physical corollary.
“He knew everything that was going on,” explained Diddy in an interview for the book. “And when I met him and he wanted to do something with Biggie, it wasn’t anything surprising.”
Though some of Jackson’s business ventures didn’t enjoy as much longevity as those launched by the members of the Forbes Five, it’s safe to say his example opened doors and blazed trails—perhaps as much behind the stage as on it. And the story of how he did it is one that every aspiring musician of any genre should know.
For more about the business of the King of Pop, check out my book Michael Jackson, Inc, which will be published in June, and follow me on Twitter and Facebook.
