When Michael Jackson passed away suddenly in 2009, the world mourned the loss of the King of Pop. But behind the tributes and headlines, a complex legal and financial storm was brewing. While many assumed his children would inherit unimaginable wealth, the truth was far more complicated.

At the time of his death, Jackson’s financial state was dire. Despite his legendary career, he was drowning in debt — reportedly around $400 million. His net worth was deeply entangled in loans, lawsuits, and liabilities, leaving those close to him unsure whether there was even enough money to cover his funeral, let alone care for his children: Prince, Paris, and Blanket.

Jackson’s will, last updated in 2002, named attorney John Branca and music executive John McClain as executors of his estate. It placed his assets in a private trust, naming his children and mother, Katherine Jackson, as beneficiaries. Each party received 40% of the estate, while the remaining 20% was allocated to children’s charities. Upon Katherine’s death, her share would revert to the children.

Notably omitted were his father, Joe Jackson, and his siblings. A no-contest clause in the will ensured that anyone who challenged it would be disinherited. That didn’t stop family members from attempting to claim their share. Joe Jackson filed a lawsuit requesting monthly support, citing expenses over $15,000 per month despite only receiving $1,700 from Social Security. His claims were rejected, with the court affirming, “Joe Jackson takes none of this estate.”

In 2012, several siblings including Randy, Jermaine, and Janet challenged the validity of the 2002 will, alleging it was signed in Los Angeles when Michael was actually in New York. However, legal experts clarified that the location discrepancy wouldn’t invalidate the will, and previous wills were consistent in naming the same beneficiaries and excluding his siblings.

Jackson’s estate faced enormous debt, but in a dramatic turnaround, it quickly became one of the most lucrative posthumous estates in history. Thanks to new music deals, the This Is It documentary, and a Cirque du Soleil tour, the estate generated over $500 million in its first three years. By 2012, Jackson was earning more in death than any living artist at the time.

Despite their opposition to Branca and McClain, Katherine Jackson and her legal team later agreed to work with them, though she requested that a Jackson family member be appointed as a third executor — a move many saw as an attempt to gain financial control. Being an executor would also come with the benefit of a 10% cut from the estate’s profits — potentially hundreds of millions of dollars over time.

In the meantime, Jackson’s children lived a more normalized life under the guardianship of their grandmother and cousin T.J. Jackson. They attended private school, went to amusement parks, and began adjusting to a life outside their father’s protective shadow.

The estate supported the family generously. By 2014, over $20 million had been spent on the children’s care, including $70,000 in monthly support to Katherine, and full coverage of their Calabasas mansion expenses. Katherine, in turn, was reportedly supporting several other family members with this income.

By the time each child turned 18, they were receiving an estimated $7–10 million annually, with their full inheritance to be distributed in stages at ages 30, 35, and 40. While legally billionaires on paper due to the estate’s growth, the structured nature of the trust ensured they wouldn’t access everything too young — a move made intentionally by Jackson to protect them.

Michael Jackson’s legacy, though marred by scandal and financial chaos at the end of his life, ultimately rebounded. His foresight in planning for his children secured their financial future and kept control of his empire out of the hands of those he intentionally left out. Today, his children are set for life — but the fight for his fortune revealed deep fractures in the Jackson family that money could not heal.