Remember when he was the King?
Despite an unparalleled international impact, Michael Jackson is a man who just can't stop spending.Sued in 2002 by the Union Finance and Investment Corporation in California, the suit stated, 'Michael Jackson was -- and is -- a ticking financial time-bomb waiting to explode.'
At the trial, only one balance sheet was uncovered, from June 30, 2002. This included assets of $130 million and liabilities of $285 million, leaving Michael with a net worth of negative $285 million.
What is a singer to do when he's out of money?