I read that when Michael Jackson died, he was $500 million in debt. How does someone get into that kind of debt?
In: Economics
You can borrow against your assets. I.e. you borrow money against your house to pay yourself a salary while you do a music career that could be up and down. You then get super famous and do this until you spiral out. Also his ‘brand’ is worth way more than that.
Latest Answers