 New court documents reveal Michael Jackson was more than $500 million in debt when he died. A petition filed in Los Angeles Superior Court by the executors of his estate showed the extent of the King of Pop's debt. The filing also said the African-American entertainer's estate was left financially liable for $40 million to tour promoter AEG. And that's the latest. I'm Mike Moore from your 24-7 news source, the Black Information Network and BINews.com.