On this morning, July 16th, the Estate of Michael Jackson is almost debt-free. The king of pop’s estate has reportedly almost completely paid the late-singer $500 million debt. The estate ability to pay the singer debt is a result of the profit he has earned from his recent success following his death. Reportedly, the late-singer earnings following his death have almost totaled the amount that his estate owed at the time of his death. More specifically, the estate had earned by the end of May about $475 million.
The only debt that the pop star needs to pay at time moment is the debt that he owes his publishing catalog. The executors of his estate are optimistic that the singer’s debts will be paid off at the end of this year.
See Michael Jackson Estate Almost Debt-Free, The National Ledger, July 14, 2012.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
