Joseph Jackson Net Worth
Joseph Jackson had an estimated net worth of $500 thousand at death. Joseph Jackson was best known for being the father of international pop superstar Michael Jackson and the rest of the famous Jackson family. He earns most of his income from his career as a music manager.
Joseph Jackson was born in Fountain Hill, Arkansas, on July 26, 1928. In 1949, he married Katherine Scruse, with whom he had ten children. Jackson quickly recognized their musical talent and took on the role of manager for The Jackson 5. The group was successful, but tensions eventually led to Jackson’s dismissal. Later, his son Michael accused him of abuse, which some siblings confirmed while others denied. Jackson passed away on June 27, 2018, after a battle with cancer.
To calculate the net worth of Joseph Jackson, subtract all his liabilities from his total assets. Investments, savings, cash deposits, and any equity he has in a house, car, or other similar asset are included in the total assets. All debts, such as personal loans and mortgages, are included in total liabilities.
Here’s the breakdown of his net worth:
|Net Worth:||$500 Thousand|
|Monthly Salary:||$10 Thousand+|
|Annual Income:||$200 Thousand|
|Source of Wealth:||Talent manager, Music executive, Musician, Actor, Professional Boxer|
Joseph Walter Jackson, the eldest of five children, was born on July 26, 1928, in Fountain Hill, Arkansas. Samuel Jackson, his father, was a high school teacher, and Crystal Lee King, his mother, was a housewife. When Jackson was 12, the couple divorced. His father relocated to Oakland, California, while his mother relocated to East Chicago, Indiana. Jackson had a lonely childhood with few friends. He moved to Indiana when he was 18 to be closer to his mother.
He began pursuing his dream of becoming a boxer while in Indiana. He had achieved success with the Golden Gloves and was preparing for a professional athletic career when he met Katherine Scruse, a 17-year-old girl. He was already married at the time, but he quickly annulled his marriage to be with Katherine.
Starting a Family
On November 5, 1949, the couple married and moved into a two-bedroom house in Gary, Indiana. Six months later, on May 29, 1950, the Jacksons’ first child, Maureen Reilette “Rebbie” Jackson, was born. To support his family, Joseph decided to give up his boxing career. He started working for US Steel as a full-time crane operator. Meanwhile, his wife Katherine cared for their growing family; the Jacksons would have ten children (son Brandon Jackson died at birth).
Despite having given up his dreams of becoming a boxer, Joseph was still determined to make it big. With his brother Luther, Joseph formed The Falcons in the mid-1950s. After failing to gain notoriety, the group disbanded a few years later. Joseph returned to work full-time at US Steel.
The Jackson 5
However, after catching his son Tito playing his guitar in 1963, Joseph became aware of his children’s musical abilities. The Jackson Brothers were formed that year by Jackie, Tito, and Jermaine, with Joseph serving as the group’s manager. He started entering the trio in local talent shows, and by 1965, his younger brothers Marlon and Michael were also in the band. In 1966, the group renamed itself The Jackson 5 and began gaining recognition in the R&B circuit.
Joseph began enforcing long and intense rehearsals for his sons, and booked them in more and more respectable venues until they landed a spot at Harlem’s renowned Apollo Theater. The group won a Motown record contract after winning an amateur night contest.
The Jackson 5 achieved instant success, becoming the first American group to have four consecutive No. 1 singles on the Billboard Hot 100 singles chart. Joseph moved the family out of Indiana and into a mansion in Encino, California, using the money he earned from managing the group.
However, group tensions caused deep schisms within the family. Joseph was a strict disciplinarian, and reports of his abusive behavior began to circulate in the media. Michael, Joseph’s son, fired his father as his manager in 1979 and took charge of his own career. In 1983, the other Jackson brothers would follow suit.
Joseph’s personal life began to suffer as well. After another woman gave birth to his daughter, his wife publicly condemned him. Katherine filed for divorce twice, but both times she dropped her case. In 1993, his son Michael spoke out against him on the popular Oprah Winfrey Show, detailing his father’s physical and mental abuse throughout his childhood. This issue divided the Jackson siblings, with many claiming abuse and several claiming it never happened.
Michael, his son, died unexpectedly on June 25, 2009. Michael named his mother as guardian of his three children in his will. Joseph, his father, received nothing from his estate.
Jackson was rushed to a hospital in Brazil in July 2015 after suffering a stroke and heart arrhythmia. He was in the country to celebrate his 87th birthday. He returned to the United States after being treated, but his health deteriorated as he recovered. Jackson had a stroke in 2012 and reportedly had others before that. He was admitted to a hospital in Los Angeles in May 2016, but later posted a message via his publicist saying he was fine.
Jackson was hospitalized in June 2018 with terminal cancer, according to reports. Janet later praised him while receiving an award at the 2018 Radio Disney Music Awards, calling him a “incredible father.”
Jackson died on June 27, 2018, at Nathan Adelson Hospice in Las Vegas, Nevada, just a month shy of his 90th birthday.
“We are deeply saddened by Mr. Jackson’s passing and extend our heartfelt condolences to Mrs. Katherine Jackson and the family,” the executors of Michael Jackson’s estate said in a statement. “In recent years, we had developed a warm relationship with Joe, and we will miss him tremendously.”
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