Michael Jackson’s huge debts paid-off

NIDA DAR

KARACHI: When King of Pop Michael Jackson passed away, he didn’t just leave behind millions of fans. He left behind under $500 million in debt.

Now, late singer’s estate has released a statement saying they have made tremendous progress in paying off his debts.

The media reported that late singer’s estate has generated gross earnings exceeding 475 million dollars at the end of May this year.

According to the documents, all of Jackson’s debts have been paid, with the exception of a big debt involving the King of Pop's publishing catalog and executors expect that too will be fully paid-off by the end of the year.

However, media reports also state that Jackson’s mother, Katherine, is asking for an additional $34,700 a month to pay for lawyers and accountants.

Another sum of $205,041 is required to cover lawyer and accountant fees from 2011" which reportedly amount to more than $13.6 million.

Jackson is listed as the most successful entertainer of all time by Guinness Book of World Records.

His contributions to music, dance, and fashion, along with a much-publicized personal life, made him a global figure in popular culture for over four decades.

Jackson’s death in 2009 triggered a global outpouring of grief, and as many as one billion people around the world reportedly watched his public memorial service on live television.