I read that when Michael Jackson died, he was $500 million in debt. How does someone get into that kind of debt?

Question

I read that when Michael Jackson died, he was $500 million in debt. How does someone get into that kind of debt?

In: Economics

Answer 1

Doesn’t answer your question because I’m not rich enough to know the answer however the quote of “if you owe the bank $100 that’s your problem, if you owe the bank $100 Million that’s the banks problem” comes to mind lol.