Michael Jackson Was In PROPER Debt

Another day, another story about Michael Jackson, but this time it isn’t someone trying to leech off his death and make a quick buck, in fact, I cant see many people trying to scam some cash out of Jacko anymore as he was apparently in tens of millions of dollars worth of debt by the time of his death.

The single was scheduled to perform 50 concerts at the O2 Arena when he died and he had hoped that the cash from the gigs might pay off some of his debts, but alas, he died before he could cash in.

Since he dies, the stars estate have paid off a couple of the bills thanks to profits from the this Is It film and a string of greatest hits cds, but I don’t think they’re out of the woods yet…

Ruth.xx

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About Ruth

Word up! I am the music editor at FemaleFirst.co.uk. My favourite bands are Nightwish, Biffy Clyro and A Day To Remember. I do have rather biglove for the Now Thats What I Call Music CD's though. Katie Price annoys me but I love how she's made a name for herself by being annoying. That takes some work.

  • bob

    Ruth, well (mis)reported.

    I guess you must have ignored his £1billion+ share in Sony Music (according to Bloomberg), or about the other assets and business interests Jackson still had.
    He could have sold his share of Sony at any time and easily repaid his debt while alive, but he didn’t do it. Why? because he didn’t need to. That share was earning him around $40million per year by itself. Income from his own music sales and other business interests was in addition to that.
    He was already earning a substantial amount of money.

    As you suggested, he had sold out 50 shows in next to no time, with further plans to take the show worldwide. What about the new album he was preparing? What about the deal he had already signed for the recently announced video game before he died? The future certainly looked bright for his finances.

    Yes, the man had personal debt (so do Bill Gates and Richard Branson by the way), and his finances were in a state through bad management but as the records show, he was far from being poor.

  • stacy

    Try harder next time.

  • idrag4mj

    bitch were do you get you facts from???? if you had reliable sources you would realize that the estate is out of all debts and in alot of profits!! smfh!!!

    • N.M.

      MJJ IS NO MORE IN DEBT, PL GET YR FACTS RIGHT.