The King of Pop, Michael Jackson began his career as a child prodigy in Jackson 5, defying the odds by maintaining his fame for over four decades. Unlike many child stars who faded from the spotlight, Jackson’s influence only grew. Unfortunately, his sudden death in 2009 at the age of 50 shocked the world, but even more surprising was the revelation that the star was financially troubled at the time of his passing. This revelation raised many questions about how one of the most successful entertainers in history ended up broke.
When Jackson decided to launch his solo music career, he took a huge risk as a young performer. His musical legacy remains immense, with countless hit songs that continue to influence artists like Snoop Dogg, his impact on the music industry is undeniable and has earned him the title of the 7th best-selling musician in history. Despite his success, his financial troubles were also huge. Shockingly, at the time of his death, Jackson was reportedly $400 million in debt.
In terms of spending, Jackson never bothered to look at how much he was spending as he spent a lot of cash toward buying his home and turning it into the Neverland Ranch. According to reports, Jackson spent nearly $17 million to $30 million to buy his home. From there, he spent another fortune in turning his home into an amusement park complete with a zoo, train station, Ferris wheel, and its own fire department among other things.
Not only this, Jackson also exhausted much of his finances by buying unique pieces that people could not afford. For instance, he owned pieces of memorabilia from his favorite films, indulging in items like Johnny Depp’s gloves from Edward Scissorhands and expensive recreations of iconic props, such as Michael Keaton’s Batman suit and E.T.’s head. His collection didn’t stop there, Jackson also acquired life-size figures of beloved characters like Superman, Yoda, Spider-Man, C-3PO, and Darth Vader. His spending extended to historic artifacts as he paid $1.5 million for the Academy Award statue won by Gone With the Wind for Best Picture.
Furthermore, Jackson’s extravagant spending extended beyond movie memorabilia. He owned several castings of his own face, a robotic replica of his head, a full arcade packed with games, and numerous expensive paintings and gold fixtures. His lavish tastes also included a collection of cars and a staggering amount of jewelry.
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