Michael Jackson Owed Millions Of Dollars In Debt At The Time Of His Death?

Michael Jackson, popularly known as the 'King Of Pop', was reportedly under a huge debt at the time of his passing in 2009. Jackson, who earned hundreds of millions of dollars throughout the 1980s and 1990s as the composer and singer of some of the biggest-selling albums of all time, along with sold-out concert tours, was struggling with debt to the tune of $500 million.

Court filing reveals MJ's huge debt

According to The Guardian, a filing in the Los Angeles county superior court recounted how Michael Jackson’s “most significant assets” were subjected to more than $500 million (£395.7 million) in 'debt and creditors' claims, with some of the debt accruing interest at extremely high interest rates, and some debt in default”.

The filing also revealed that Jackson was faced with lawsuits abroad and in several US states, including California, at the time of his death. Creditors had lodged more than 65 claims against him, which prompted even more litigation. However, the executors of Michael Jackson's estate wrote in the filing that they had settled or otherwise resolved most of the creditors’ claims and other court actions. It has also come to light that $40m is owed to the This Is It concert tour promoter, AEG.

The tragic death of 'King Of Pop'

Michael Jackson was born on August 29, 1958, in Gary, Indiana, to a large and musical family. He died on on June 25, 2009 aged 50. Reportedly, he had ingested a lethal dose of the potent surgical anesthetic propofol from his personal physician, Conrad Murray, who was later convicted of involuntary manslaughter and sentenced to four years in prison.