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Michael Jackson

Estate Clears MJ's Massive

Debt ... Almost

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

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.


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Previous 15 Comments | 2 | 3 | 4 | 5 | 6 | 7 | 8

joe gillis    

i think we ought to give credit where credit is due and that's to joe for bashing mj as a kid - if joe hadn't done that these leeches would all be living in a dumpster right now

817 days ago

sas-shay whtiaker    

LOOK AT HIM !!!!!!!!!!!!!!!!!!!!

725 days ago


Show & explain to us full proofs/evidences that Michael Jackson was half a billion dollars in debts?!!!

403 days ago


If he had died twenty years earlier, think of all the money that would be there right now.

253 days ago
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