Michael Jackson Estate Raked In $310 Million Since His Passing

Since the pop star died in June of 2009 his estate has grossed an amazing $310 million! Although he was known for being a big spender which put him in debt. Sounds like his family is using his celebrity fortune to pay off the pop-star's debts. $310 MILLION! That's in 2 years!

A new financial report submitted in court shows that the estate of Michael

Jackson has earned more than $310 million since the pop icon's death in June of 2009. But before you go gasping at the number and thinking everyone is rolling knee deep in dough, lawyers for the Jackson family say most of the the money has been put toward the $400 million debt he left when he died.

A rough $159 million of MJ's after death earnings have been used by the estate. Of that large amount, $40 million was owed to concert promoter AEG Live for the botched tour the King of Pop had been in rehearsals for at the time of his unexpected death, while $27.2 went towards tax payments. On a more personal level, $935,000 was spent on burial expenses, and $4 million on mortgage payments for a new home for his family outside of Los Angeles in the San Fernando Valley.

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