Fifteen years have passed since the disappearance of Michael Jackson, on June 25, 2009. Jacko’s death shocked millions of fans around the world but several years later some information emerges about the singer’s situation in that period. According to court documents filed last week in Los Angeles.
Michael Jackson died at the age of 50 while preparing for the long series of concerti This Is It alla 02 Arena of London. Here is the latest information on his financial situation:“At the time of Michael Jackson’s death, Michael Jackson’s most significant assets were subject to $500 million in debt and creditor claims, with some of the debt accruing interest at extremely high rates and some of the debt in default.”.
According to the Los Angeles Times, accountant William R. Ackerman, a defense witness for AEG Live in a wrongful death case in August 2013, told jurors that Jackson spent money on charitable donations, gifts, travel, art and furniture: “He spent a lot of money on jewelry, he was broke.” A debt situation that has affected his estate. He reportedly owed about $40 million to concert promoter AEG.
According to the executors, Michael Jackson was on the verge of bankruptcy at the time of death, with half a dozen lawsuits pending worldwide, more than 65 creditor claims filed following his death generating further litigation. There are fifteen legal cases that his lawyers had to handle after his death, in the United States alone, not counting those in Europe and Japan, all or almost all of which were resolved favorably.
Meanwhile, the Michael Jackson biopic is already under fire.
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