Michael Jackson, the legendary King of Pop, passed away unexpectedly on June 25, 2009, at the age of 50, leaving fans worldwide in shock and marking the end of a musical era. Renowned for his hits like "Thriller" and "Billie Jean" and his iconic dance moves, Jackson's influence on pop culture remains unparalleled. His death, allegedly realted to an overdose, sparked a media frenzy and a flood of tributes from fans and fellow artists. Nearly twenty years later, revelations about Jackson's financial struggles continue to emerge. On June 27th, it was reported that Jackson was over $500 million in debt at his death, with his debt starting to accumulate as early as 1993. Despite this, the executors of his estate managed to turn things around by handling loan interest rates, settling lawsuits, and generating new revenue through music licensing.
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00:00Michael Jackson, the iconic king of pop, passed away on June 25, 2009, at the age of 50 years
00:06old.
00:07His unexpected death was a shock to fans worldwide, marking the end of an era in music.
00:13Jackson's passing was allegedly attributed to an overdose, and it led to a media frenzy
00:18and an outpouring of tributes from fans and fellow artists alike.
00:22But now, almost 20 years after Jackson's death, there are still things the public is
00:26learning about the star after his passing.
00:29On Thursday, June 27, news broke that Jackson was in over $500 million in debt at the time
00:35of his death.
00:36According to People Magazine, Jackson's debt began accumulating as early as 1993,
00:42reaching $140 million by 1998.
00:45Between June of 2001 and June of 2009, his debt reportedly grew by an additional $170
00:51million.
00:52The executors of Jackson's estate were able to turn this around, however.
00:57They're managing many loan interest rates, settling lawsuits, and finding new avenues
01:02for revenue through licensing the music of other well-known artists.