Michael Jackson Had Some Money After All!

Fri., Jul. 24, 2009 3:29 PM PDT by Natalie Finn

Pool photographer/Getty Images

The King of Pop may have been $400 million in debt, but it turns out he had some money stashed under the proverbial mattress.

The executors of Michael Jackson's estate have recovered about $5.5 million in cash and "tangible personal property" from the singer's former advisers, according to court documents filed along with an allowance request for Katherine Jackson and Michael's three children.

Which is a lot more than what the accountants unearthed in their initial report on the state of Jackson's finances.

Attorney John Branca and music executive John McClain, appointed by Jackson as executors of his estate in a will dated from 2002, also stated in the filing that there's more dough—"tens of millions of dollars of revenue"—on the horizon, as well, from various deals that are in the works.

The dollar amounts they're requesting for Katherine and the kids were redacted from the public record.

Starting with assets like his stake in Sony/ATV Music Publishing's catalog and then allowing for all the Vegas shopping sprees, bad investments, zoo animals, etc., Jackson's net worth was recently valued at $236 million.

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Here's some of what Michael Jackson spent his money on over the years.