Michael Jackson was reportedly in debt for more than $500 million at the time of his death.
The King of Pop died from cardiac arrest in Los Angeles, CA on June 25, 2009 at the age of 50, leaving behind a sizeable amount of money owed.
People reports that court documents show Jackson was more than a half-billion dollars in the hole, due to his extravagant lifestyle, which included an expensive jewelry habit, as well as donations to charity, gifts, travel, art and furniture.
His debt began as early as 1993, and by 1998 he already owed upwards of $140 million, in part due to interest owed on loans, according to the Los Angeles Times. As the debt grew, Jackson sold his stake in The Beatles' catalogue in 2006 as part of collateral for about $270 million to pay off loans from Bank of America.
Jackson's estate is now worth over $2 billion. Earlier this year, Sony purchased a stake in his music for a reported $600 million, which is said to be half of his publishing and recorded masters catalogue.
Read the full report here.