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MJ Estate Made $310 MILLION Since Michael Died

2/17/2011 6:50 PM PST BY TMZ STAFF

The Michael Jackson estate has made more than $310 million since MJ died back in 2009 ... this according to legal documents obtained by TMZ.

Michael Jackson Estate Worth

TMZ has obtained the first accounting that MJ executors filed ... showing exactly how much money Michael owed when he passed away on June 25, 2009 ... and how much the estate has made since -- and the numbers are astounding.

According to the documents, MJ had more than $400 million in various debts when he died ... but the estate has already made more than $310 million since.

Documents show excecutors have already spent roughly $159 mil paying back various debts, income taxes and other expenses such as providing "uninterrupted support for Mrs. [Katherine] Jackson and Michael Jackson's children as Michael intended."

The estate has also paid for Katherine to make "substantial improvements" to the family's famous Havenhurst estate in Encino, CA.

Executors have also shelled out cash to "pay last illness and funeral and memorial service expenses."

In addition to the $400 million in debt -- MJ's estate had $40 million in liabilities to concert promoter AEG stemming from the "This Is It" tour ... which MJ was rehearsing for when he died. 

The documents show the estate received more than 65 creditor's claims -- with some of the debt accruing interest at "extremely high" rates.

The MJ executors admit the estate still faces several lawsuits in multiple countries.

The executors also claim they have "successfully rebuilt and enhanced Michael Jackson's image" since they've been empowered to run the estate.

Michael Jackson Estate

208 COMMENTS

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1.

Annie     

ouch!!

1158 days ago
2.

Laughing at celebrities is fun.    

So he'll probably be back in a couple years,lol

1158 days ago
3.

Cici    

Katherine Jackson was calling the Trustee's "Greedy", someone needs to show her these do***ents. Great Job TMZ!!

1158 days ago
4.

george clooney    

So what is the difference between MJ and Madoff? Put them in jail...who is them? His whole family! Every one of them have screwed over the paying public for this disappearing act!

1158 days ago
5.

anonymous    

How on earth did TMZ get these d****ents? -RIP MJJ-

1158 days ago
6.
7.

MJ Fans    

please post the do***ents

1158 days ago
8.

mymjj5.    

Executors have also shelled out cash to "pay last illness and funeral and memorial service expenses."
________________________________________________________________
first of all the executors have not shelled out a damn thing. It's michael's money dead or alive. michael pays their salaries and for everything else even in death. I like how the executors and TMZ left out the allowance given to Debbie Rowe even though Michael intentionally omitted to provide for her in the event of his death.

1158 days ago
9.

mj is the sexiest man ever    

come baaaaaaaaaaaaaaaaaaaack
we love you.
the king forever

1158 days ago
10.

dd    

RIP Michael, no more pain,sorrow, or stress!!

1158 days ago
11.

Master Po    

http://www.youtube.com/watch?v=vYjh4paVu2E&feature=related

http://www.youtube.com/watch?v=g6lP2RHHSrU

1158 days ago
12.

RD    

This is a joke, he wasted $400 million dollars in his lifetime, that's disgusting!

1158 days ago
13.

K    

Good well done estate.

14. You think MJ did all that by himself LOL

1158 days ago
14.

denise    

not all the debt was warranted- just people trying to take advantage, but yes, overall, the executors are doing a great job!

1158 days ago
15.

Abe    

The Jacksons should THANK Conrad Murray. If it wasn't for him, they'd all be shuffling along poor as can be.

THANK YOU CONRAD MURRAY. THANK YOU FOR KILLING OUR SON SO WE CAN LIVE A LAVISH LIFE.

There. I thanked you for him, Kathryn and Joe.

x

1158 days ago
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