00:00Michael Jackson, the iconic king of pop, passed away on June 25, 2009, at the age of 50 years
00:06old.
00:07His unexpected death was a shock to fans worldwide, marking the end of an era in music.
00:13Jackson's passing was allegedly attributed to an overdose, and it led to a media frenzy
00:18and an outpouring of tributes from fans and fellow artists alike.
00:22But now, almost 20 years after Jackson's death, there are still things the public is
00:26learning about the star after his passing.
00:29On Thursday, June 27, news broke that Jackson was in over $500 million in debt at the time
00:35of his death.
00:36According to People Magazine, Jackson's debt began accumulating as early as 1993,
00:42reaching $140 million by 1998.
00:45Between June of 2001 and June of 2009, his debt reportedly grew by an additional $170
00:51million.
00:52The executors of Jackson's estate were able to turn this around, however.
00:57They're managing many loan interest rates, settling lawsuits, and finding new avenues
01:02for revenue through licensing the music of other well-known artists.
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