New court documents reveal that Michael Jackson owed more than €400 million to various creditors at the time of his death in 2009.

Earlier this week, estate executors John Branca and John McClain filed a petition in Los Angeles Superior Court to authorize payment to several law firms for services performed between July and December 2018.

Jackson, who died at age 50 of acute propofol intoxication, was preparing for his This Is It residency, which added financial strain to his resources.
Photo: Michael Jackson/Screenshot
According to legal filings obtained by Entertainment Weekly, Jackson’s finances at the time of his death in 2009 were dire.

The petition states: “Bailiffs are faced with extremely challenging circumstances.”

“Among other issues, at the time of Michael Jackson’s death, Michael Jackson’s most important assets were subject to more than €400 million in debt and creditor claims, with a portion of the debt accruing interest at extremely high interest rates and some outstanding debts”.

However, since his death, the executors have returned the finances of the estate, claiming that they have settled almost all the claims and court cases of creditors and have successfully strengthened MJJ’s business as a significant entity in the music industry. .

A key financial move was the fortune’s purchase of a stake in EMI Publishing and the rights to classic Motown songs by Carole King and Norah Jones for $50,000 (€46,685) in 2012, which were later sold to Sony for 300 million dollars (280 million euros) in 2018.

Because of these and other financial benefits, Branca and McClain are seeking legal approval to pay $3 million (€2,801,250) to various law firms for their services.

Additionally, recent successes such as the 2022 Tony-winning Broadway play MJ the Musical and the upcoming Michael biopic directed by Antoine Fuqua, starring Jackson’s grandson Jaafar Jackson and Oscar nominee Coleman Domingo , have further contributed to the property’s financial turnaround.