Home Celebrity Michael Jackson Estate: Spent $159 Mil So Far on Kids, Mom

The Michael Jackson estate has spent $159 million so far cleaning up his finances and taking care of his mother and three children. Let’s recall Katherine Jackson’s assertion — particularly through new business partners– that she’d been left high and dry by the executors. In fact, the estate paid off the mortgage on her Encino home, called Hayvenhurst, and is currently renovating. The estate is paying for temporary digs for Mrs. Jackson, her employees, and the children in beautiful Calabasas, California.

It also turns out that Michael –no surprise here–filed no tax returns for 2006, 2007, or 2008. So the estate and its accountants, according to a petition filed with the court, has rectified all that. According to the petition, the estate has also loaned Mrs. Jackson large sums of money so that she and the children can live properly. The funds will be repaid when her trust account, left to her by Michael, is funded.

The estate has also fended off 65 different lawsuits, including one by a man who said Michael stole his formula for healing herpes. Most of the suits were frivolous, but all had to be dealt with. According to the petition, the estate has also restructured Michael’s famous gigantic loans, reducing the debts considerably.

One thing that Michael Jackson’s super fans might take note of –the executors came in and revised the agreements Michael had signed with AEG Live. Of course, those agreements were not made with Michael’s current lawyers, but through his former manager Tohme Tohme. When Michael died, he was already in debt to AEG for $40 million. That number came from expenses Jackson had incurred before even starting to perform in London.

10 replies to this post
  1. Inaccurate facts as expected. AEG 40 million bill is bogus. Insurance takes care of fees before, during and after the tour. It’s common knowledge MJ was under the influence of drugs and did not know what he was signing. HE was taken advantage of and the whole world would find out.

  2. So much information last year and now on how John Lennon died. I mean I never saw so much in my life. So many many memorabila going on auction. I mean for 30 years no one said much about John Lennon but now wow let’s wake up America. Jacko thought he was invincible with that Beatle catalogue. Yeah I will be richer than anyone now. I will make half royalties on all beatle songs and do Ono a favor by hiding an inheritance of a love child daughter. I mean they are still celebrating John Lennon’s birthday 4 months later. Sinners and thieves. That is what the Lennon family is and the Jackson family.

  3. The superfans also want to see a report what part of the $310 .000000 MJ estate earned went to Branca /Mclain/Weizman for their good deeds and what AEG s claim of $40.000000 is all about.

    MJ estate being:
    K.Jackson 40%
    P. Jackson, P.Jackson, B.Jackson 40%
    Charity 20%

  4. What a mess, and people say Michael Jackson was s shrewd business man! All the ecidence points to him being very inept at handling his business interests. Such a shame that he had it all once only to loose it and die in this short of shambles.Tragic.

  5. Your headline is misleading BIG TIME! The Estate did not spend $159 million on Katherine and the kids, it’s ALL expenses. Why are you so hostile to an old lady like Katherine Jackson is beyond me. However, you can be hostile all you want – Debbie Rowe will NEVER end up with those kids: Michael made sure of that.

  6. A man filed paper that michael jackson stole his formula of healing herpes WTF? first off their is no cure for herpes they should thrown him out of court for some stupid shit like that

  7. ” When Michael died, he was already in debt to AEG for $40 million.”

    I defy anyone to show how Michael Jackson could possibly be in debt to AEG for that amount of money, unless they built him a castle in England. It sounds like AEG was charging MJ for the total cost of producing This Is It, at ludicrously inflated rates. It was a scam from start to finish, a scheme to strip Michael Jackson of his assets.

    MJ had rafts of lawyers and accountants his entire professional life. It was their responsibility to make sure the taxes were prepared and filed. You can bet they submitted their bills on time.

    Your headline is inaccurate – according to your article, $159 million dollars has not been spent just on Mrs. Jackson and the children. But what if it had? It’s their money. Just keep repeating that fact to yourself – it’s their money. The estate exists to serve the interests of the Jacksons. The executors are not heroes. They are doing their jobs, for which they are compensated handsomely.

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