Michael Jackson Owed Over 65 Creditors, More Than $500 Million in Debt When He Died: REPORT
Michael Jackson passed away 15 years ago and now his financial situation at the time of his death has come to light. According to court documents filed on June 21 and obtained by People, the King of Pop was $500 million in debt at the time of his death. Additionally, the Los Angeles Timesreports that Jackson’s spending outpaced his revenue and that he was accruing debt of $30 million a year. They go on to note that public accountant William R. Ackerman offered a look into the singer’s finances and told jurors in the wrongful-death trial of Jackson in 2013 that the singer spent money on such th...