Michael Jackson earned hundreds of millions of dollars throughout the 1980s and 1990s as the creator of some of the biggest-selling albums of all time. Photo / Doug Mills, The New York Times
Jackson owed about $65.6 million to the tour promoter AEG in 2009, his estate’s executors said in a court filing. They said all the debts have been eliminated.
Michael Jackson’s debts and creditor’s claims at the time of his death in 2009 totalled more than US$500m ($819m), according to a
court filing by the pop superstar’s estate that provides details of his financial woes toward the end of his life.
Jackson owed about US$40m ($65.5m) to tour promoter AEG, according to the filing, which was made in Los Angeles County Superior Court this month and earlier reported by People magazine. The filing said that 65 creditors made claims against the singer after his death, some of which resulted in lawsuits, and that some of his debt had been “accruing interest at extremely high interest rates.”
A representative for the Jackson estate, which is executed by John Branca and John McClain, did not immediately respond to a request for comment. The estate filed the court papers as a request to authorise the payment of about US$3.5m ($5.7m) to several legal firms for their work in the second half of 2018.
In the court filing, the executors say that they have eliminated the estate’s debt and that almost all of the creditors’ claims and litigation have been resolved.
