Michael Jackson was over $500 million in debt at the time of his death in 2009, due to his lavish spending habits and financial mismanagement. His estate faced claims from more than 65 creditors, and high-interest loans, including a $270 million loan secured by his song catalog. Despite his financial turmoil, the executors of his estate have since managed to resolve most of the debts and litigation, significantly improving the estate's financial standing. Jackson’s children and mother continue to receive substantial financial support from the estate, despite ongoing disputes with the IRS over alleged undervaluation of assets. The estate's value has now rebounded to over $2 billion, thanks to strategic asset management and legal negotiations.