TMZ

Our TV Shows

Got a Tip?

Call TMZ at (888) 847-9869 or Click Here

Michael Jackson

Estate Clears MJ's Massive

Debt ... Almost

7/13/2012 12:14 PM PDT BY TMZ STAFF
EXCLUSIVE

0713_michael_jackson
Michael Jackson
's estate has made a fortune since the singer's death -- so much in fact ... it's nearly paid off $500 million in debt the King of Pop left behind when he died.

Executors for the Estate filed legal docs -- obtained by TMZ -- which show the Estate has generated gross earnings exceeding $475 million as of the end of May. 

According to the docs, all of MJ's debts have been paid, with the exception of a BIG debt involving Michael's publishing catalog ... and executors expect that will be fully paid off by the end of the year.

It's not only good news for the Estate ... it's great news for the small army of lawyers who have been handling all the legal and business affairs.  Their fees -- from May, 2010 through November, 2011 -- exceeded $13.6 MILLION!

Two other things ... Katherine is asking for an additional $34,700 a month to pay for lawyers and accountants, and another $205,041 to cover lawyer and accountant fees from 2011.

Final thing --There are still some unresolved creditors' claims and several lawsuits to clear up.

All in all ... not a bad turnaround.

222 COMMENTS

No Avatar
46.

HumanNature    

Another Part of Me by Michael Jackson


We're Takin' Over
We Have The Truth
This Is The Mission
To See It Through


Don't Point Your Finger
Not Dangerous
This Is Our Planet
You're One Of Us


We're Sendin' Out
A Major Love
And This Is Our
Message To You
(Message To You)
The Planets Are Linin' Up
We're Bringin' Brighter Days
They're All In Line
Waitin' For You
Can't You See . . .?
You're Just Another Part Of Me . .


A Rather Nation
Fulfill The Truth
The Final Message
We're Bring To You
There Is No Danger
Fulfill The Truth
So Come Together
We're Mean Is You


We're Sendin' Out
A Major Love
And This Is Our
Message To You
(Message To You)
The Planets Are Linin' Up
We're Bringin' Brighter Days
They're All In Line
Waitin' For You
So Look The Truth
You're Just Another Part Of Me . .


We're Sendin' Out
A Major Love
And This Is Our
Message To You
(Message To You)
The Planets Are Linin' Up
We're Bringin' Brighter Days
They're All In Line
Waitin' For You
Can't You See . . .?
You're Just Another Part Of Me
Another Part Of Me . .


We're Takin' Over
This Is The Truth, Baby
Another Part Of Me


THERE'S STARS, SUPERSTARS, MEGASTARS AND MICHAEL JACKSON


THE KING OF "ALL" MUSIC!!!!

747 days ago
47.

HumanNature    

Planet Earth by Michael Jackson


Planet Earth, my home, my place
A capricious anomaly in the sea of space
Planet Earth, are you just
Floating by, a cloud of dust
A minor globe, about to bust
A piece of metal bound to rust
A speck of matter in a mindless void
A lonely spaceship, a large asteroid


Cold as a rock without a hue
Held together with a bit of glue
Something tells me this isn't true
You are my sweetheart, soft and blue
Do you care, have you a part
In the deepest emotions of my own heart
Tender with breezes, caressing and whole
Alive with music, haunting my soul.


In my veins I've felt the mystery
Of corridors of time, books of history
Life songs of ages throbbing in my blood
Have danced the rhythm of the tide and flood
Your misty clouds, your electric storm


Were turbulent tempests in my own form
I've licked the salt, the bitter, the sweet
Of every encounter, of passion, of heat
Your riotous color, your fragrance, your taste
Have thrilled my senses beyond all haste
In your beauty I've known the how
Of timeless bliss, this moment of now.


Planet Earth, are you just
Floating by, a cloud of dust
A minor globe, about to bust
A piece of metal bound to rust
A speck of matter in a mindless void
A lonely spaceship, a large asteroid


Cold as a rock without a hue
Held together with a bit of glue
Something tells me this isn't true
You are my sweetheart, gentle and blue
Do you care, have you a part
In the deepest emotions of my own heart
Tender with breezes, caressing and whole
Alive with music, haunting my soul.


Planet Earth, gentle and blue
With all my heart, I love you."


KING OF MUSIC


MICHAEL JACKSON

747 days ago
48.

Dose Of Reality    

Michael Jackson - Better dead than alive.

500 Million debt?
But the stuperfans always deny or downplay his financial problems.
That much in debt?
But the stuperfans always praise his intelligence and mind for business.


Just one more thing that proves MJ was completely incompetent in dealing with his day to day life.

747 days ago
49.

Dose Of Reality    

TMZ...
Why are you using a picture of a bleached turtle for the story?

747 days ago
50.

Wackoclause    

Whatever happens, don't let go of my hand little boy


Everything will be alright, he assures him
But he doesn't hear a word that he said
Preoccupied, he's afraid
Afraid that what they've been doing not right
He doesn't know what to say, so he prays
Whatever, whatever, whatever


[Chorus]
Whatever happens, don't let go of my hand little boy
Whatever happens, don't let go of my hand little boy
Whatever happens, don't you let go of my hand little boy


Don't let go of my hand little boy
Don't let go of my hand little boy


He's working day and night, thinks he'll make him happy
Forgetting all the dreams that he had
He doesn't realize it's not the end of the world
It doesn't have to be that bad
he tries to explain, "It's you that makes me happy,"
Whatever, whatever, whatever little boy


[Chorus]
Whatever happens, don't let go of my hand little boy
Whatever happens, don't let go of my hand little boy
Whatever happens, don't let go of my hand little boy
Whatever happens, don't you let go of my hand little boy


Whatever happens, don't let go of my hand little boy
Whatever happens, don't let go of my hand little boy
Whatever happens, don't you let go of my hand little boy


Whatever happens, don't let go of my hand little boy


[Carlos Santana:] Thank you, man!
[Michael Jackson:] Thank you, Carlos,do you have a little boy
for me?
------------------------------------------

-------------------------------

Man 1# "Why Is the Thriller Music Video Not True?" Man 2# "The Zombies?" Man 1# "No, Michael had A Girlfriend".

747 days ago
51.

CloBird    

The Estate lawyers have earned their pay.
This is good news for Michael's estate; after all things are cleared, the revenues earned will be for his children.

Katherine is taking care of Michael's children, so, hopefully, the money that she is asking for is going towards the care of the children. Tuition for private schools, the private home-school teachers for the youngest child, karate lessons, film school for Prince, acting lessons for Paris....all costs do add up.

747 days ago
52.

Arwen    

So ... good news. So the COMEBACK is not far off ....

747 days ago
53.

Sammy    

CLOBIRD
---------------------------------------------------------
"Katherine is asking for an additional $34,700 a month to pay for lawyers and accountants, and another $205,041 to cover lawyer and accountant fees from 2011."
-------------------------------------------------------

That's what KJ is asking for. Also, ALL the costs regarding MJ3 are payed ONLY by the Estate. KJ receives an allowance for herself and MJ3 receive an allowance for everything regarding them, from school to entertainment.

747 days ago
54.

HumanNature    

Dose of Stupidity


YOU DON'T KNOW NOTHING ABOUT "MUSIC"!!!!

747 days ago
55.

HumanNature    

ESPECIALLY ABOUT BRINGING PEOPLE TOGETHER THROUGH "MUSIC"!!!!

747 days ago
56.

Marie    

Too bad MJ is not alive. He would have been happy to know that all his debts have been cleared.

747 days ago
57.

What I Think    

MJ is worth more dead than alive. No wonder his heirs paid Dr. Murray to off him.

747 days ago
58.

What I Think    

Why little boy, what big eyes I have to see you with.
--Michael Jackson

747 days ago
59.

aspire    

All the haters are very jealous of Michael Jackson wealth and fame.

Don't forget guys 20% share of MJ's Estate is for charity...

We love you and miss you MJ.

747 days ago
60.

Dose Of Reality    

HumanNature

Dose of Reality


YOU DON'T KNOW NOTHING ABOUT "MUSIC"!!!!
~~~~~~~~~~~~~~~~
You don't know how wrong you are.
Tell me, what do you know about music?
Have you studied music?
What instrument(s) do you play?
You can't even seem to be able to construct a basic sentence. About the only thing you did right is put "MUSIC" in quotes. That must mean that you are aware that you, yourself personally, consider it music, whereas other people do not.


Let's look at a portion of those lyrics again:


Jam
It Ain't
It Ain't Too Much Stuff
It Ain't Too Much
It Ain't Too Much For Me To
Jam
Get On It
It Ain't Too Much Stuff
It Ain't
Don't Stop
It Ain't Too Much For Me To
Jam
It Ain't
It Ain't Too Much Stuff
It Ain't
Don't You
It Ain't Too Much For Me To
Jam
It Ain't
It Ain't Too Much Stuff
It Ain't
Don't You
It Ain't Too Much For Me To


It Ain't Too Hard For Me
To Jam [9x]
Get On It
Jam
It Ain't
It Ain't Too Much Stuff
It Ain't
Don't You
It Ain't Too Much For Me To
Jam
It Ain't Too Much Stuff
It Ain't Too Much
It Ain't Too Much For Me To
Jam
It Ain't Too Much Stuff
It Ain't Too Much
It Ain't Too Much For Me To
Jam
Too Much
It Ain't Too Much Stuff
It Ain't
Don't You
It Ain't Too Much For Me To


Get On It
Get On It
Give It Baby
Give It To Me
Come On
You Really Give It Too Me
Got To Give It
You Just Want To Give It


It seems as if the song was written for infants and the mentally disturbed. Oh, that's right, it was.

747 days ago
Previous 15 Comments | 1 | 2 | 3 | 4 | 5 | 6 | 7 | Most Recent | Next 15 Comments

Around The Web