Michael Jackson, one of the most famous artists in music history, had a debt mountain of 5 billion at the time of his death.
He had borrowed money from 65 different creditors, it reports People Magazine after gaining access to new documents. The artist also had more than half a dozen pending lawsuits against him.
The information has emerged in connection with a request from Michael Jackson’s estate, where they wanted compensation for legal costs and other forms of operating costs since 2018.
“He spent a lot of money on jewelry”
During a 2013 trial, accountant William R. Ackerman said that “He spent a lot of money on jewelry” and “was broke,” reported Los Angeles Times.
According to Michael Jackson’s lawyers, who after his death handled several lawsuits and litigation in different parts of the world, have said that most of the legal cases “were resolved favorably.”