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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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61.

Linda    

He would have never got out of all that debt if he was alive. Cant imagine the stress he was under no wonder he couldnt sleep. I think that is why he took so many drugs so he didnt have to think about it. How could anyone deal with that kind of debt. I think MJ would take his own life before he would file bankrupt. He wanted people to think he still had millions but the truth is ,He was going under.

1239 days ago
62.

Deb    

This is dedicated to all of you who think I have a snowball's chance in hell of making it to heaven! I may not be as "holy" as some of you espouse to be, but the Bible says "For it is by grace you are saved, and not of works, lest any man should boast".


I was shocked, confused, bewildered
As I entered Heaven's door,
Not by the beauty of it all,
Nor the lights or its decor.
But it was the folks in Heaven
Who made me sputter and gasp--
The thieves, the liars, the sinners,
The alcoholics and the trash.
There stood the kid from seventh grade
Who swiped my lunch money twice.
Next to him was my old neighbor
Who never said anything nice.
Bob, who I always thought
Was rotting away in hell,
Was sitting pretty on cloud nine,
Looking incredibly well.
I nudged Jesus, "What's the deal?
I would love to hear Your take.
How'd all these sinners get up here?
God must've made a mistake."
"And why is everyone so quiet,
So somber - give me a clue."
"Hush, child," He said,
"They're all in shock.
No one thought they'd be seeing you."

JUDGE NOT!!

Remember...Just going to church doesn't make you a
Christian any more than standing in your garage makes you a car.

1239 days ago
63.

CN    

12.
RIP Michael, no more pain,sorrow, or stress!!

Posted at 2:12 PM on Feb 17, 2011 by dd
--------------------

On the other hand, no more propaphal, shopping binges or little boys.

1239 days ago
64.

mjestodo    

michael jackson thi is life true??

1239 days ago
65.

Ben     

All Michael needed to do to save his estate was to die. Death was the best thing that could have happened to Michael Jackson. Good Riddance.

1239 days ago
66.

Johnny    

He pulled an Elvis, He figured he could make more dead and that;s what he did, faked his death, Ever seen Eddie & the Cruisers, and Eddie Lives?

1239 days ago
67.

anonymous    

anonymous,Would you like to read my holy ass,GREAT BIG HOLE.

Posted at 4:18 PM on Feb 17, 2011 by MiMi
____________________________________________________

Very funny .... not.

Hopefully the real Mimi shows up soon and buries you back in whatever hellified dark place you come from.

Just pathetic.

1239 days ago
68.

Eleonora49    

If that's really the case good For Michael Jackson smart guy !!

1239 days ago
69.

dd    

@67 Oh how clever how long did it take you to think of that..but Michael is happy now and you are filled with hate...HA HA HA!

1239 days ago
70.

mj fan forever    

AND WHERE WOULD BE THESE DOCU.MENTS????
THE TABLOIDS SEEM TO BE UNABLE TO AGREE ON THE FIGURES OF THE ABOVE AMOUNTS: $400 MILLION, $300 MILLION, $500 MILLION, ETC.... ??????
IT'S OBVIOUS THAT MICHAEL JACKSON WAS NOT SO BROKE AS THEY WANT TO LET TO INTEND OF COURSE!!!!

1239 days ago
71.

And thats the truth    

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

Posted at 2:15 PM on Feb 17, 2011 by RD
********************************************************************

He gave well over $350 MILLION dollars for charity. If he had not done that, he probably would of not been so much in debt.

1239 days ago
73.

Eleonora49    

I will not Judge Michael Jackson it is his Money he can do as he please to do so.And its a fact if you Make a lot of Money you spend a lot of Money.He is a good Person that's up most more important than anything else.

1239 days ago
74.

nan    

i dont know much about his estate but that sounds like a staggering amount of money to the average person.
perhaps it was investments he had made such as other catalogs or what ever also...
when people invest in a house it sounds like you are in incredible debt too..
he may have had a cash flow problem , but he had assets also.
he could have sold his catalog off , he didnt.
people were always robbing him blind too.
look how thome took the 5 million or however much it was from mj house after he died..

1239 days ago
75.

JLS    

Both Johns (the executors) are doing a fantastic job! MJ would be incredibly grateful to both of them.

Thank you very much.

1239 days ago
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