Michael Jackson was 'the highest-paid dead celebrity of 2018,' but the singer died in debt. Here are some of the most extravagant things he spent his fortune on.
Michael Jackson topped Forbes' list of the highest-paid dead celebrities of 2018 after raking in around $400 million that year alone.
But before he died, the singer was millions of dollars in debt. According to William R. Ackerman, a forensic accountant, Jackson was spending thousands of dollars more than he was making.
Source: Los Angeles Times, Money
Ackerman, who testified in a 2013 case involving the singer, reportedly said that Jackson was making $30 million-a-year payments toward his debt at the time of his death. But Ackerman said he was simultaneously spending lavishly on things like jewelry.
Source: Newsweek
It wasn't a secret that the king of pop had a bizarre fleet of collectibles, but it wasn't until he died and things were put up for auction that the public got to see the full roster.
Source: The Richest, Reuters
He owned the gloves Johnny Depp's character wore in "Edward Scissorhands" ...
... a robotic replica of his head as seen in the "Moonwalker" film starring Jackson ...
Source: Go Social, The Richest
His Neverland Ranch featured a fully-functioning arcade with loads of games available for playing.
Source: Associated Press
The arcade was located in the pool house on the property, according to the Associated Press.
Source: Associated Press
According to NBC, Jackson paid $1.5 million for the Academy Award statue that was awarded to 1939's Best Picture winner, "Gone With the Wind."
He reportedly displayed the statue on a rotating stand next to the fireplace in the home's main living room.
Source: NBC
Forbes reported that Jackson purchased the oil on canvas painting seen below for $46,000. The painting, called Cleopatra's Last Moments, was reportedly signed by the artist, D. Pauvert, and dated 1892.
Source: Forbes
The Neverland Ranch was an enormous expense for Jackson. Entertainment Weekly reported that the singer paid $19.5 million for it in 1988.
Source: Entertainment Weekly, Business Insider
Jackson also made additions to the property and house, like the Disney Parks-themed train station ...
Source: Business Insider
... and bronze statues of children that littered the property and could be seen from the train as it went around the grounds.
Source: Business Insider
Entertainment Weekly reported that, at one point, it cost Jackson $10 million to keep up the ranch and all of its amenities, including the train, theme park, zoo, and theatre.
Source: Entertainment Weekly
Neverland Ranch was filled with hints of glitz on the inside, too, like the gold-colored, goose-like spout on the star's bathtub.
Source: Associated Press
While the amount he spent on building and furnishing Neverland Ranch hasn't been confirmed ...
... certain items like the front gate pictured here had an estimated price tag of up to $30,000, according to Forbes.
Source: Forbes
Jackson wasn't living at the ranch at the time of his death, though. He was reportedly paying $100,000 a month to rent this Bel-Air mansion, according to Forbes.
Source: Forbes
The limousine was customized by Jackson and featured leather seats and an embellished ceiling.
Source: The Richest, Hot Cars
Jackson's spending didn't stop at cars. In the early '80s, he famously purchased a pet chimpanzee named Bubbles.
Source: The Richest
According to Newsweek, Jackson's "extreme debt" dates back to 1994 when he owed $30 million.
Source: Newsweek
Billboard reported that it was the 1993 legal battle — when Jackson was accused of molesting a 13-year-old boy — that benchmarked the turning point in Jackson's career as well as his mental, physical, and financial health.
Source: Billboard
While he was spending on going to trial in the '90s, Jackson was still making money. He was collecting roughly $75 million a year during that time from owning the rights to his music library as well as that of the Beatles — which he bought for $47.5 million in 1985 — according to The Daily News. Still, he reportedly spent more than he made.
Source: The Daily News, Business Insider
The 2009 auction was actually planned before the singer died in June. It was set to feature items belonging to Jackson himself as well as collectors around the world.
Source: Forbes
At the 2009 auction, the iconic, white spandex, Swarovski-encrusted glove that became synonymous with the King of Pop sold for $350,000.
Source: Reuters
Julien's auction house estimated the worn-in, sweat-stained glove would sell for up to $200,000.
Source: Forbes
Forbes reported that just before the auction was set to take place, Jackson had made between $200 million and $300 million from his planned London concert tour.
Source: Forbes
The day before the first public exhibit of belongings on offer, Jackson filed a lawsuit against Julien's to prevent the auction from happening. The suit ultimately resulted in Jackson paying a reported $2 million worth of expenses — plus an undisclosed additional amount — Julien's had already taken on in planning the auction.
Source: Forbes
Since his death, Jackson's belongings — like this "Smooth Criminal" hat and family notebook ...
Source: Reuters, Billboard, Associated Press
... and memorabilia have been auctioned off around the world for thousands of dollars.
But, that doesn't necessarily mean the singer paid high prices for those things when he first acquired them.
Source: Reuters
Even so, the things he did spend on — like the acres and acres of trimmed grounds at the Neverland Ranch — set him back quite a lot.
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