Michael Jackson

Michael Jackson was an American artist, lyricist, and artist. Named the “Lord of Pop”, he is viewed as one of the main social figures of the twentieth century. The iconic Micahel Jackson had left many of his fans devastated when he left us in 2009. While Michael was known to be filthy rich, he was reportedly in debt for at least $400 million. His Neverland home was almost foreclosed. Mismanagement of finances led the King of Pop to lose a lot of money.

Many claimed that Jackson was spending his money mindlessly, having to take on personal loans, which were never paid. He was also involved in a lot of legal issues and this just compounded his financial issues even more. According to a forensic accountant, it’s estimated that Jackson owed around $400 to $500 million. However, his estate is covered for the debts and he is still the highest-earning celebrity who’s already passed away.