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

Has everyone already forgotten?

[https://www.independent.co.uk/news/people/michael-jackson-paid-ps134-million-in-payoffs-to-stop-up-to-20-sex-abuse-victims-speaking-out-say-lawyers-a108541.html](https://www.independent.co.uk/news/people/michael-jackson-paid-ps134-million-in-payoffs-to-stop-up-to-20-sex-abuse-victims-speaking-out-say-lawyers-a108541.html)