M
ichael Jackson's empire has transformed from being over $US500 million in debt to a staggering net worth of around $A768 million. The King of Pop died in 2009 due to cardiac arrest caused by acute Propofol intoxication at the age of 50.
At the time of his death, Michael Jackson owed money to more than 65 creditors. He had struggled financially and became technically homeless, staying with friends while his home, Neverland, went into foreclosure. However, since his passing, his net worth has generated a staggering $US2 billion ($A3.07 billion).
Michael Jackson's lavish lifestyle reportedly cost about $US50 million a year. He spent the money just as fast as he earned it, blowing his fortune on gifts, travel, antiques, art, zoo animals, jewelry, and furniture, as well as making huge donations to numerous charities.
The "Thriller" hitmaker had earned between $US50 million and $US100 million ($A76 million and $A152 million) a year from 1985 until 1995 through touring, record sales, endorsements, and merchandise. However, he spent the money on movie and music projects that never got off the ground, using 50% of his ownership stake in Sony/ATV as collateral.
After Michael Jackson's death, his executers began working to stabilise the pop star's financial situation. His lawyers produced a movie called "This Is It" from personal home videos, which has made over $US500 million ($A762 million). The success of the film led to Pepsi striking a deal to license Jackson's image.
In 2023, Jackson's estate pulled in around $US115 million ($A175 million), largely thanks to the success of the Broadway show "MJ: The Musical". Last year, Sony Music Group purchased half of Jackson's music catalogue in a deal that valued his songs above $US1.2 billion ($A1.8 billion).
Michael Jackson's properties have also generated significant revenue since his death. His former home, Neverland, was sold to billionaire Ron Burkle for $US22 million ($A28 million) after being on the market for five years. The property was originally purchased by Jackson in 1988 and had a asking price of $US100 million ($A128 million).
Jackson also rented a luxurious apartment in Trump Tower, which he used as a secret hideaway from paparazzi. He lived there with his then-wife Lisa Marie Presley. The four-bedroom condo sat a few floors below Donald Trump's penthouse and boasted floor-to-ceiling windows, granite and marble floors.
In Las Vegas, Jackson rented a 17,000-square-foot mansion for $US50,000 ($A76,000) a month in rent. He lived there with his three kids from 2006 to 2009. The home features eight bedrooms, including a massive master suite, and seven bathrooms.
Jackson also rented the "Thriller Villa" in Las Vegas, which he used as a private residence for two years. The Spanish-style villa has its own bell tower and a 74-seat Medieval-style chapel that Jackson used as a theatre. The luxe residence was last listed for sale in 2016 with a $US9.5 million ($A14.4 million) price tag.
Jackson's last home in Holmby Hills, Los Angeles, was leased to him by AEG after he signed a deal for a comeback tour. The mansion features seven bedrooms, 13 bathrooms, and 12 fireplaces, as well as a wine cellar, theatre, tasting room, spa with a gym, elevator guesthouse, pool, and gardens.
