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Michael Jackson Was Over $500 Million in Debt When He Died

Michael Jackson's debt figure surfaced in new court documents pertaining to the late pop star's estate.

The court documents lay out the "extraordinarily challenging circumstances" the "Thriller" singer's executors faced when Michael died on June 25, 2009 after going into cardiac arrest at his home in Los Angeles. - Pete Still/RedfernsAnd while "the executors have eliminated the Estate's debt, have resolved virtually all of the creditors' claims and litigation, and have successfully solidified the MJJ business [after negotiating with Sony, in 2012, to buy an interest in EMU Music Publishing and then selling that interest in 2018 for $300 million] as a significant entity in the music industry, there remain challenging business, tax and legal issues that the Executors and their counsel continue to deal with." She stated in court documents obtained by ET that "it seems clear to [her] that the Executors are holding all of the assets in the Estate in order to keep control over them, and to avoid the more liberal distribution of requirements of the Trust."

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