Image Credit: Al Messerschmidt/Getty ImagesMore than eighteen months after he unexpectedly died in his California home, Michael Jackson continues to be a huge draw. And as Reuters reports, the proceeds from sales of his extensive catalog of hit records and memorabilia are helping dig the pop legend out of his much reported nearly $400 million debt.
Jackson has earned $310 million since his June 2009 death according to court papers filed on Feb. 17. And of that, handlers of his estate have contributed $159 million to his debt. There are still several outstanding claims filed in other countries to be dealt with, but estate handlers claim they’ve “made substantial progress in reducing the estate’s debt.”
As we reported last year, Jackson’s estate signed a 10-album record deal with Sony. The first of the 10, Michael, was released last December. Slowly but surely, proper steps are being taken to clear Jackson’s financial obligations. How do you think the estate is handling this? Have you bought any of his albums, seen This Is It, or purchased any M.J. mementos since he passed?