Michael Jackson's Billion Dollar Year

Michael Jackson died a year ago today, but his empire rolls on.

In the final years of his life, Jackson's finances were widely reported to be in chaos, with the singer facing foreclosure on his famed Neverland Ranch and struggling with debts of roughly $US500 million. However in the 12 months since Jackson's death on June 25 last year, the King of Pop's empire has witnessed a money-spinning resurgence, generating revenues estimated at more than $US1 billion. Jackson's estate has paid off more than half of the singer's debts and is likely to put his affairs back into the black in the coming year. The financial bonanza began almost immediately, with Jackson selling nearly 4 million records in the six weeks after his death. By June 2010, total album sales had swollen to 9 million in the United States alone, according to figures from Nielsen SoundScan. Internationally, Jackson has sold 24 million albums.

Jackson's This Is It has grossed more than $300M worldwide, making it the most successful concert movie in history. Even though there was no audience at those concerts.