I read that when Michael Jackson died, he was $500 million in debt. How does someone get into that kind of debt?
In: Economics
I can’t really explain what you ask but…
If you owe $1000 you have a problem.
If you owe $10000000 the bank has a problem.
The organisations that were owed knew that no matter what (even if he died) there was plenty of collateral that would return what they were due.
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