Net Worth Ranker
What Is Joe Jackson’s Net Worth?
At the time of his death on June 27, 2018, Joe Jackson, the patriarch of the Jackson family, had a reported net worth of $500,000. This figure reflects his earnings primarily as a music manager, most famously guiding the careers of The Jackson 5 and later, his children Michael and Janet Jackson.
Early Life and Career Beginnings
Born on July 26, 1928, in Fountain Hill, Arkansas, Joseph Walter Jackson experienced a challenging upbringing. His parents, Crystal Lee and Samuel Joseph Jackson, a teacher, separated when Joe was 12, leading him to relocate with his father to Oakland, California. Later, he rejoined his family in East Chicago, Indiana. Joe Jackson began working at the Inland Steel Company in East Chicago, where he also pursued boxing, achieving some success in the Golden Gloves program. However, his aspirations shifted when he met Katherine Scruse, whom he married in November 1949. They initially settled in a small two-bedroom house in Gary, Indiana. Joe supplemented his income with a second job at American Foundries in Chicago, while Katherine worked at Sears in Gary. During this period, Joe played guitar in a band called The Falcons with his brother Luther.
The Rise of The Jackson 5
In 1963, Joe Jackson recognized his children’s musical talent and took on the role of manager, transforming them into The Jackson 5. Initially focusing on his three oldest sons, Tito, Jermaine, and Jackie, he later included Michael and Marlon in the group, originally named The Jackson Brothers. They began performing at local talent shows and high school events before Joe secured them gigs at more prominent venues, including the Apollo Theater in New York City. In November 1967, The Jackson 5 signed their first record contract with Gordon Keith, president of Steeltown Records in Gary. Their debut single, “Big Boy,” released in 1968, did not achieve significant success. However, their victory at an amateur night contest the following year led to a Motown record contract in March 1969. This pivotal moment prompted the family’s move to Los Angeles, where Joe played an active role in every recording session for Motown.
The release of “I Want You Back,” their first Motown single, catapulted The Jackson 5 to widespread fame. The song quickly reached #1 on the Billboard Hot 100, followed by three consecutive #1 hits in 1970: “ABC,” “The Love You Save,” and “I’ll Be There.” These early successes solidified their position as a major force in the music industry. In 1974, Joe established his own record label, Ivory Tower International Records, and the artists under his management toured with The Jackson 5 as opening acts.
In 1975, The Jackson 5 transitioned from Motown Records to Epic Records. During this period, Michael and Jermaine began pursuing solo careers. Due to copyright issues with Motown president Berry Gordy, the group was renamed The Jacksons. Joe played a crucial role in launching Janet Jackson’s career in 1982, facilitating her involvement in movies and financing her first demo recording, which led to her signing with A&M Records.
Controversies and Later Years
Despite the Jackson family’s success, tensions arose, ultimately leading to the group dismissing Joe as their manager. Michael Jackson later publicly accused his father of physical and emotional abuse during their childhood, allegations that were both confirmed and denied by other siblings. Joe was known for enforcing rigorous rehearsal schedules and securing increasingly prestigious venues for his sons. His personal life also faced scrutiny when another woman gave birth to a child fathered by Joe Jackson, leading to Katherine Jackson filing for divorce twice, though both cases were eventually dropped. In 1993, Michael Jackson discussed the abuse he suffered at the hands of his father on “The Oprah Winfrey Show,” further dividing the Jackson siblings.
Michael Jackson’s death on June 25, 2009, had significant repercussions for the family. In his will, Michael appointed his mother, Katherine, as the guardian of his three children, while Joe Jackson received nothing from Michael’s estate. Joe Jackson died on June 27, 2018, at the age of 89, after battling pancreatic cancer.
Financial Details and Estate
While specific details regarding Joe Jackson’s income from managing The Jackson 5 and his children’s solo careers are not publicly available, it’s understood that his earnings were derived from management fees, record royalties, and other ventures within the music industry. The precise breakdown of his $500,000 net worth at the time of his death remains undisclosed, but it’s likely composed of assets such as real estate, investments, and royalties. There is no available information regarding specific properties owned by Joe Jackson or the details of his personal investments.
