Imagine giving your best friend a secret tip on how to become rich, only for them to use that exact secret to buy your most prized possession right out from under you.
That is exactly what happened between two of the biggest music stars in history: Paul McCartney from the famous band The Beatles, and Michael Jackson, the King of Pop.
Back in the early 1980s, these two superstars were great friends. They hung out, wrote hit songs together, and exchanged secrets. One day, Paul decided to teach Michael how the music business worked.
He explained a concept called “music publishing.” He told Michael that whenever a song is played on the radio, used in a commercial, or sung by another artist, the owner of that song gets paid a cash reward. Paul proudly showed off his own collection of songs and told Michael it was the smartest thing a musician could ever own.
When Michael Jackson Bought the Beatles
Michael listened very carefully. In fact, he took the advice a little too seriously.
A few years later, in 1985, a massive treasure chest opened up in the music world. The rights to almost all of The Beatles’ greatest songs were put up for sale. Because Paul McCartney had written those songs, he was offered the chance to buy them first. However, Paul thought the price tag was way too expensive, so he decided to pass on the offer.
Michael Jackson saw his chance and pounced. Even though his business advisors yelled at him and said it was a terrible mistake, Michael trusted his gut. He entered a fierce bidding war and bought the Beatles’ catalog for a jaw-dropping $47.5 million.
Paul McCartney on Michael Jackson Buying the Beatles’ Music Catalog (2001)
When Paul found out, he was deeply shocked and hurt. He felt totally betrayed because he was the one who gave Michael the idea in the first place! Paul felt like his friend had pulled the rug out from under his feet. Their close friendship never truly recovered. Michael, however, was blunt about it, noting that if Paul didn’t want to invest in his own music, he shouldn’t complain.
In the end, Michael’s bold move turned out to be one of the smartest business choices ever made. Over the years, those Beatles songs made Michael hundreds of millions of dollars. He proved to the world that he wasn’t just a legendary dancer and singer—he was also a genius businessman, even if it cost him his best friend.