I read that when Michael Jackson died, he was $500 million in debt. How does someone get into that kind of debt?
In: Economics
He had terrible spending habits and would routinely spend 6 or 7 figures on shopping trips. My understanding is that once he died and his family took over his estate, the net worth of the estate went up dramatically because MJ wasn’t spending tons of money.
[https://m.imdb.com/news/ni64796442/](https://m.imdb.com/news/ni64796442/)
>The King of Pop [Michael Jackson](https://m.imdb.com/name/nm0001391/) was known for his unorthodox lifestyle. His lavish spending was allegedly portrayed in the controversial 2003 [ITV](https://m.imdb.com/company/co0229932/) documentary, [Living with Michael Jackson](https://m.imdb.com/title/tt0352524/). One of the clips from the documentary, where [Jackson](https://m.imdb.com/name/nm6320108/) allegedly spent $5 million in just seconds, recently resurfaced on the internet.
Latest Answers