Michael Jackson is no surprise. I think he blew like $50Million a year on crap. He went to some antique store and bought a bunch of crap he never used. Pointed at a few things and bought alot of stuff he didn't need or ever use. You would think how its possible to end up with $500M in debt? Well he was very popular. He made tons of money. So lenders were willing to give him money. Most likely none of them would forsee that he would pass away and not be able to generate income anymore.
I think antiques are a kind of investment too but earlier, I thought you are talking about a Crap which is a kind of gambling game, lol. It made me shock a little bit because I know, Michael Jackson is not a gambler in the casino. And if he is, then we already heard that in the news. The amount is not shocking for me because we all know who this guy was but what shocks me is on why he got a debt.
I mean he is already earning huge amounts, right? Anyone can die at any moment and lenders should know that but for them to still give a lot of money, maybe there is a collateral that have been handed and will be liquidated once things didn't go very well.