Michael Jackson needed the money from his This Is It shows to buy a house.
The 'Thriller' hitmaker once had millions of dollars - generated by selling an estimated 200 million records in his unparalleled music career - but during the ongoing wrongful death lawsuit his family have brought against promoters AEG on Wednesday (12.06.13) it became apparent his fortunes were dwindling.
AEG executive, Randy Philips, told the court how the singer had planned his 50 date comeback residency in London, to make enough money to buy a home for him and his three children, Prince Michael, 16, Paris, 15, and Blanket, 11, as he was fed up of them ''living like vagabonds.''
Randy added he had an emotional meeting with Michael in 2008 where the singer insisted he was tired of shuttling from a rented house in Las Vegas, Nevada, to a hotel in Los Angeles, California.
When the pair met the next day, Michael then insisted he wanted to buy a 40,000 square-foot mansion costing a staggering $93 million, but didn't have the cash. After persuading him it would be a ridiculous decision to blow the money on the plush property, Randy said Michael eventually settled on renting the home where he eventually died, from acute Propofol intoxication, just days before his comeback was scheduled to start.
The Jackson family are suing AEG Live for hiring and not properly investigating Dr. Conrad Murray, who was convicted of involuntary manslaughter for supplying and administering the medication which killed Michael in June 2009.