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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
91.

hitthedeckboys    

Now no one will go after his children to repay his stuff back like they did Liza Minelli with Judy...

725 days ago
92.

pete    

Good. Now maybe they will begin working on obama's massive debt.

725 days ago
93.

pete    

Good. Now that that's out of the way maybe somebody can think about clearing obama's massive debt for him.

725 days ago
94.

bev    

Lets tell the article the way it should be and thats called the truth. Suicide druggie , Michael Jackson, finally years after his self-empossed death almost has his debts paid off. Hopefully the leachy Jacksons can live off of what is left.

725 days ago
95.

MiMi    

Michael Jackson still tops highest grossing North American tour with Cirque du Soleil’s Immortal

-

Three years after his untimely death, Michael Jackson is still a huge concert draw, in the tribute show by the Cirque du Soleil.
Michael Jackson: the Immortal by the performance group leads the mid-year list of top grossing tours in North America as assembled by Pollstar. Between January 1 and June 30, that tour grossed $78.5 million.

Among tours by still living artists, Roger Waters leads the way with $61.9 million followed by Van Halen with $44.9 million, Kenny Chesney with $33.9 million and Lady Antebellum with $30.0 million.

Of other top veteran artists, Bruce Springsteen is at 7 with $30.0 million and Elton John at 8 with $26.0 million.

Worldwide, Waters is at the top grossing $158.1 million. Springsteen is second with $79.9 million. Michael’s show is third with its total gross coming from North American sales. Probably because the show has barely toured outside the USA.

Here is the top five on each list followed by all other veteran artists in the top 100. Click on the list name to see Pollstar’s complete top 100:

North American Tours ($ in millions)

01. Michael Jackson: The Immortal (Cirque du Soliel) – $78.5
02. Roger Waters – $61.9
03. Van Halen – $44.9
04. Kenny Chesney – $33.9
05. Lady Antebellum – $30.9
07. Bruce Springsteen & the E-Street Band – $30.0
08. Elton John – $26.0
17. Red Hot Chili Peppers – $18.3
19. Jimmy Buffett – $18.1
29. Bryan Adams – $12.0
30. Beach Boys – $12.0
35. George Strait – $10.4
37. Neil Diamond – $10.0
39. Paul McCartney – $9.0
40. New Edition – $8.6
45. Yanni – $7.6

Worldwide Tours ($ in millions)

01. Roger Waters – $158.1
02. Bruce Springsteen & the E-Street Band – $79.9
03. Michael Jackson: The Immortal (Cirque du Soliel) – $78.5
04. Coldplay – $73.9
05. Lady Gaga – $67.2
06. Van Halen – $44.9
08. Madonna – $42.1
09. Paul McCartney – $40.1
11. Elton John – $37.4
18. Red Hot Chili Peppers – $24.7
23. Rod Stewart – $22.0
25. Bryan Adams – $21.7
33. Prince – $18.1
35. Jimmy Buffett – $18.1
39. Scorpions – $17.2
42. New Kids on the Block/Backstreet Boys – $16.4

http://divinevarod.com/2012/07/15/michael-jackson-still-t...

725 days ago
96.

What I Think    

Kitty Wells died today. A real Superstar.

725 days ago
97.

Dose Of Reality    

Bob Babbitt, a true King of Music passed today as well.

724 days ago
98.

nan    

Well , in the car business , I believe they refer to this as getting somebody , at the gate ..as in on their way out ..make a score / get some hits , lol
I am waiting for Aunt Mini to comment in a derogatory fashion , on this old story ..maybe even Aunt Bee..LOL

724 days ago
99.

Kathysprings    

If all the MJ haters got paid for their hate
and pooled their money together
they still would not have more money
than MJ .

too bad they will always be poor,
but at least they will have their Hate !

suckas

724 days ago
100.

Tessiana    

what do you mean "stop giving Katherine money" she's the one taking care of those kids and to make it even better she's not a greedy person...what do you think she's going to buy 10 top cars??? choops...think before you'll make comments...

724 days ago
101.

susie    

"There are two kinds of people in this world: Michael Jackson fans and losers."

Seth Green

724 days ago
102.

HumanNature    

Words cannot capture the impact Michael Jackson has had on pop culture around the world. He changed the way we hear and feel and move to music; he epitomized what true musical talent and star power really mean. He is and always will be the King of Pop."

- Debra L. Lee

724 days ago
103.

HumanNature    

THE KING OF "ALL" MUSIC, MICHAEL JACKSON


WILL LIVE ON 4EVER

724 days ago
104.

Dose Of Reality    

Jackson Family = Kardashian Family


Famous for being famous more than anything.


Never created anything on their own of any real substance.


Family leaching off the others.


Scandals keep them popular.


Worshiped by the mindless masses because they don't know any better and they believe what they are told as far as what is great.

723 days ago
105.

Justin    

CRY BABY

LUZ
00
Yeah, and then he wanted to participate in the Michael Jackson Tribute in Australia, and he was booted out, because of his big mouth!

------------------
Luzifer, get your fact straight!

Tribute in Australia??? Did you organize that???

Lol Lol Lol!!!
7 HOURS AGO
REPLY
11
1 RESPONSE ▼

LUZ

01
No, the Jackson family did. Again, do your research before you talk.
7 HOURS AGO


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

RoFlmAo, ignorant rabid you are, Luzifer!


Here is a hint: Cardiff!!!

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

I love the rabids keep telling people to do their research when they are the one who need to grow a brain. It is so much easier to believe MJ was a straight innocent naive man!

723 days ago
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