Michael Jackson Died With $500 Million in Debt

Michael Jackson’s debts and creditors’ claims at his death in 2009 amounted to over $500 million, as revealed in a recent court filing by his estate. Major debts included $40 million owed to tour promoter AEG. The estate, managed by John Branca and John McClain, has since resolved most of the creditors’ claims and litigation.

Jackson’s lavish spending on his Neverland Ranch, art, jewelry, and private jets contributed to his financial troubles. Despite his earnings from music and investments like the Beatles’ song catalog, Jackson left behind complex financial entanglements, including a current dispute with the IRS over $700 million in alleged unpaid taxes and penalties.

For more information see Reggie Ugwu “Michael Jackson Died With $500 Million in Debt” The New York Times, June 28. 2024.

Special thanks to Joel C. Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.