Michael Jackson, a music icon, found himself in significant debt during his lifetime. According to a report by People, the singer’s estate has recently petitioned to be reimbursed for various expenses, including legal fees, from 2018. Court documents revealed that at the time of Jackson’s death in 2009, he was over $500 million in debt.
News outlets such as Billboard and The Guardian reported that Jackson was deeply in debt when he passed away on June 25, 2009, with estimates ranging from $400 million to $500 million. In March 2024, two of Jackson’s estate executives, John Branca and John McClain, along with legal counsel Jonathan Steinsapir and Saul Ewing, stated that the estate was in financial trouble and on the brink of bankruptcy at the time of his death.
Jackson’s debt had been accumulating for years, with records showing that he already owed $140 million by 1998. Between June 2001 and June 2009, his debt increased to $170 million. By 2009, Jackson had over 65 creditors and faced numerous lawsuits globally. However, most of these legal matters have since been settled.
Despite the financial challenges he faced during his lifetime, Jackson’s estate is now valued at over $2 billion, showcasing the enduring legacy and popularity of the King of Pop.