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Joe had a private meeting with Micheal back in january i believe about the fact that he did not trust the people in London to pay him what he was worth for this tour. He wanted Mike to get paid in pounds and not american money. Why ? Would'nt American money be more benefical to him than Pounds ? I do not get that Micheal lived in Lino Lakes or was it California i do not really know this but what good would pounds have done him , to me that would be like me going to Mexico and preferring Pesos over American Money and over there they will do anything to get thier hands on American Money , why you may say , well it is worth more. I do not get Joe's advice on this at all. I am sure he knew what he was talking about and that he was concerned that Micheal was going to get ripped off in some way but pounds over American Money , i do not get that Joe sorry.
You're starting from the premise that US dollars are somehow better than any other currency... I think you have to ask yourself why. After all it's not as if he needed the dollars to pop down to Walmart and buy his groceries is it. I dare say he had investments in multiple currencies, for example one of MJ's major income sources was his ownership of publishing rights to Beatles songs... what currency do you think those were paid in ? I dare say it was a straight investment decision, and as previous answer has said given that the pound is now much stronger against the US$ than it was a while ago and with the dollar continuing to go south against almost every other currency.... probably an astute one.
Look at the exchange rates. 6 months ago £1 bought $1.3 today £1 buys $1.6 Does not need a university degree to see the advantage of being paid in pounds. As the cash was earned abroad there are also tax advantages. Ian M
The Great British Pound is worth considerably more than the dollar, and is more stable too.