Jackson finances: In the decade since Michael Jackson was first accused of child molestation, his record sales have plummeted, his concert dates have been few and far between - and his income has dwindled as well.
Still, the entertainer has maintained an opulent lifestyle, so lavish that prosecutors maintain he spends like a billionaire on a millionaire's budget.
Many details about Jackson's finances remained sketchy during the proceedings.
But forensic accountant John Duross O'Bryan testified that the singer had an "ongoing cash crisis" and was spending $20 million to $30 million more a year than he earned.
A balance sheet dated June 30th, 2002, indicated Jackson had assets of $130 million and liabilities of $415 million, O'Bryan said.
The testimony included references to memos by Jackson financial managers warning that to balance the books and clear huge loans held by Bank of America, he might have to sell his share of up to 50 per cent of Sony/ATV Music Publishing.
ATV Music owns and administers copyrights to thousands of songs - including the words and music to 251 Beatles tunes. Analysts estimate Sony/ATV could be worth as much as $1 billion.
The catalogue provides Jackson a steady stream of income and has been used as collateral to secure $200 million in loans from Bank of America.
The prospect of selling his stake in the catalogue has split Jackson's advisers. The Rev Jesse Jackson said that in recent months, some urged him to rid himself of debt by selling part or even all of his music publishing holdings. He has advised the entertainer on personal matters.
In April, Jackson faced the possibility of losing the catalogue to foreclosure when he was a day late making a $3 million payment to Bank of America, said the Rev Jackson, who contacted the company's president on behalf of the singer.
Jackson and his representatives insist that assets such as the Sony/ATV catalogue and his Neverland estate ensure his financial house is in order. In a March interview by the Rev Jackson broadcast over the internet, the entertainer denied rumours he was near bankruptcy.
Jackson built his fortune in the 1980s as one of the world's most popular entertainers. His 1982 album Thriller sold 26 million copies. Five years later, Bad sold 22 million copies. In 1991 he signed a $65 million recording deal with Sony.
But one of Jackson's shrewdest deals was his 1985 acquisition of ATV Music for $47.5 million.When he ran into financial problems a decade later, he agreed to a deal with Sony to merge ATV with Sony's library of songs and sold Sony music publishing rights. Sony paid Jackson a total of $150 million as part of the ATV merger agreement, the Wall Street Journal reported, citing a person close to the 1995 deal.
Jackson began to borrow large sums of money, according to a 2002 lawsuit by Union Finance and Investment that sought unpaid fees and expenses. Jackson had hired Union Finance in 1998 to help straighten out his finances.
By 2001, Jackson had borrowed from Bank of America. Last month, New York-based Fortress Investment Group, which specialises in troubled debt, acquired Jackson's Bank of America loan.