WEB DESK: Major Revelation about the world’s most renowned late pop singer and dancer Michael Jackson
According to American media, court documents have revealed that the King of Pop, who passed away in 2009, was over 500 million dollars in debt at the time of his death.
Significant Disclosure Regarding Michael Jackson’s Death
The report states that Michael Jackson, who was believed to have no shortage of wealth, was actually facing financial difficulties at the time of his death.
Certified Public Accountant William R. Ackerman detailed the pop singer’s financial straits during a 2013 hearing of AEG Live, revealing that Jackson had an annual debt of 30 million dollars. The primary reasons for this debt included heavy spending on charitable donations, gifts, travel, art, and furniture.
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It was further disclosed that Michael Jackson was not only facing financial issues at the time of his death but had been experiencing financial problems since 1993. By 1998, his debt had reached 140 million dollars.
The report also mentioned that his debt had increased to 170 million dollars between 2001 and 2009.
Moreover, a report by the New York Times stated that Michael Jackson had used his shares, which included the Beatles’ hit films, to secure a loan of approximately 270 million dollars from the Bank of America.
