Was Michael Jackson In Debt Before He Died? A Look At The King of Pop’s Finances
Michael Jackson was allegedly millions of dollars in debt when he died in 2009. The King of Pop was majorly in debt after his death, a forensic accountant testified in 2013, according to the Los Angeles Times. The topic broke during Jackson’s 2013 wrongful death trial.
The forensic accountant, William R. Ackerman, alleged Jackson was forced to pay annual debt payments of $30 million. Where his money went exactly, Ackerman explained, was to interest from the debt he’d acquired, along with lavish expenses.
“He spent a lot of money on jewelry,” Ackerman laughed during the trial. Jackson received royalties from his music catalog annually, but it wasn’t enough to keep him out of debt. The musician’s extreme debt started in 1994 with $30 … Continue Reading (2 minute read)