Michael Jackson was a millionaire in debt until his death

Debt Singer Michael Jackson will leave $500 milliondied in 2009, of whom They will be related to his last concert touras revealed by the artist’s documents.

in accordance with Electronic NewsThe lawyer of the translator who died 15 years ago said he insisted Your account is “messy”A document filed in Los Angeles County Superior Court states that “Jackson spent a lot of money preparing for his ‘This Is It’ tour.”

According to the document, Jackson’s untimely death (at age 50) from respiratory arrest left his estate with a significant liability. The tour’s promoter, AEG, was $40 million in debt.

Court documents obtained by the magazine peoplethey revealed “Jackson has more than six lawsuits pending around the world, and the estate has filed more than 65 creditor claims, generating many more claims, several of which have resulted in litigation.”

In addition, as stated Los Angeles TimeThe day before his death, the “King of Pop” held a rehearsal in Paris.Staples Center, Los Angeles. It turns out that “This is It” is the artist’s plan to escape a complicated financial situation.

“I want people to see his work, not just talk about his lifestyle”Randy Phillips, former CEO of AEG Live, explained to the magazine. Rolling Stonein 2009.

According to the aforementioned media reports, the actors of “Thriller” have accumulated debts $30 million per year.

However, after his death, his lawyers managed to eliminate the debt and settle In addition to “successfully improving its image and legacy,” it has also “defended nearly all creditor claims and litigation.”

“The executors were able to renegotiate and restructure the financial arrangements that existed at the time of Michael’s death at a significantly reduced rate.”But they will continue to deal with “Challenging business, tax and legal issues.”