It goes without saying at this point, Michael Jackson had a bad spending habit and passed away not only broke, but in massive debt.
When MJ passed away in June of 2009, he was more than $400 million in debt. That’s like a small country. But like most artists, he's made a ton of money since he passed.
According to court docs, MJ's estate has made more than $310 million since he passed away. But most of that is gone too.
The estate spent $159 million paying back some of his debt, a few million on "substantial improvements" to the Jackson family home in Encino and other expenses such as providing "uninterrupted support for Mrs. Jackson and Michael Jackson's children as Michael intended," according to TMZ.
Of course random people came out of the woodwork after MJ passed away asking for some cash. Over 65 creditors have come forward since June 2009, with some asking for crazy interest on their return.
Karen Faye, His hairstylist of 25 years, claims he was terrified of flipping burgers because of his massive debt. “He was scared to death because AEG was funding everything. He said he would have to work at McDonalds if he didn't do these shows."
How much does he think Mickey D’s employees make? Flipping burgers and scrubbing floors isn’t going to pay off $400 million. No wonder he was in such a financial hole, he had no concept of how much anything costs.