It details how Jackson’s premature death at age 50 “left his estate” with a significant financial liability to his tour promoter.
Michael Jackson. Photo: Reuters
Singer Michael Jackson had a debt of about 500 million dollars when he died. The news was published by the portal “E-news”which cites as a source documents of the deceased singer to which he has had access.
Jackson is the author of hits that They marked a musical milestone like ‘Thriller’ (1982), the best-selling album in history, or songs that defined their brand like ‘Beat it’ (1982), ‘Bad’ (1987) or ‘Smooth Criminal’ (1988).
He died June 25th, 2009 by an overdose of anesthetics at his rented mansion near Bel Air, the exclusive celebrity neighborhood in Los Angeles.
The lawyers of the executors of Jackson’s estate, whose death has now been 15 years, assured that the accounts of the author of “Thriller” were “in disarray” in 2009, to the point of reaching that million-dollar debt.
Michael Jackson. Photo: Reuters
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What the documents say
“Jackson had incurred considerable expenses in connection with the preparations for his concert tour‘This Is It'”, according to the document that was presented to the Los Angeles County Superior Court after the singer died, explains the specialized portal.
In addition, the executors’ lawyers noted that Jackson had “changed business managers, attorneys, and personal managers several times in the years immediately preceding his death,” which forced them to track down documents that were “scattered throughout the country.”
However, in the following years, The lawyers eliminated Jackson’s estate debt and “successfully enhanced his image and legacy” to benefit the beneficiaries of “Michael’s Trust,” which includes the award-winning singer’s children, Prince Jackson, 27, Paris Jackson, 26, and Bigi “Blanket” Jackson , 22.
“Although more than a decade has passed since Michael Jackson’s death,” the document states, “from time to time, the executors must deal with the consequences of the circumstances that existed at the time of his death,” the specialized news portal specifies.
