Celebrities seem to have everything, fame, money and a charming lifestyle. Of course, the most important thing is that they can call Hollywood home. For most fans, the lives of these celebrities are so interesting because they can do whatever they want and still look beautiful. But although the grass always looks greener to celebrities, the sad reality is that they are still human. With all the charm, flashlights and record-breaking salary, things will still fall apart.
Just like the rest of us, famous people made costly mistakes that caused them to lose their hard-won wealth. It just shows us that Stellar may also suffer from debt, drugs and doom.
Michael Jackson, The King of Pop, was one of the most celebrated musicians of all time. As an artist who started his career with the Jackson 5, Jackson’s career was bright and by the time he decided to go solo as an artist, he was unstoppable. Garnering 13 Grammy awards among other prestigious accolades, the ‘Thriller’ singer lived a most thrilling life.
However, while he sold an impressive 750 million albums, behind the scenes, Michael Jackson’s life was marked by lavish spending and tax debt. When he died in 2009, the world learned that the star owed the IRS $500,000 and for a short time, his estate was bankrupt. As millions around the world mourned his legacy, MJ’s estate managers looked for ways of solving the financial woes in his estate.
As luck would have it, MJ’s passing sparked new sales that made him the first artist in history to sell over 1 million tracks in a single week! Posthumously, Michael Jackson’s legacy turned into profit, and when Sony paid $250 million to extend the artist’s back catalog, his debts were more than solved. In death, Michael Jackson returned to his throne as one of the greatest artists of all time.