Documents filed in Los Angeles County Superior Court note that Jackson’s “most significant assets” were subject to more than $500 million in “debts”
Michael Jackson had accumulated more than half a billion dollars in debt when he died in 2009. It appeared in U.S. newspapers the sensational news after the executors of the singer’s estate provided full details of the financial difficulties he is facing The 13-time Grammy winner was struggling at the time of his death. Documents filed in Los Angeles County Superior Court note that the “most significant assets” of Jackson were subject to more than $500 million in “debt,” including “creditor claims” and “with some of the debt accruing interest at extremely high rates and some of the debt in default.”
The King of Pop died on June 25, 2009 at the age of 50.just before starting the tour This Is It. Jackson had ingested a lethal dose of the powerful surgical anesthetic Propofol given to him by his personal physician, Conrad Murray. Murray was later convicted of manslaughter and sentenced to four years in prison. At the time of his death, Jackson was well 65 requests for compensation from creditors which were subsequently welded in some way. According to the Los Angeles Times, which cites an accountant who handled the pop star’s expenses, Jackson spent exorbitant amounts of money on jewelry, although he also purchased art, furniture and gifts, as well as traveling and donating money to charity. Children Prince, 27; Paris, 25; and Blanket, or Bigi, 22 years old, again according to the executors, have not received financial distributions from his estate due to an unresolved dispute with the U.S. Internal Revenue Service over a 2021 tax return where Jackson it would not have paid an additional $700 million in taxes and penalties. Michael Jackson sold more than 400 million records in over thirty years of his career.
