An accountant employed by Michael Jackson testified in the Jackson family’s wrongful death trial against entertainment company AEG Live, saying that had the late singer completed his “This Is It” tour, he could have made over $1 billion.
The Lost Angeles Times reports that accountant Arthur L. Erk took the stand and explained that his projections of the immense profit are based on AEG budgets, emails from company executives, and Jackson’s notes on his plans for his comeback tour. Erk added that he included a 37-month tour, an average of two shows a week, and a 10-year Las Vegas show based on Jackson’s music in his calculations. Merchandise and endorsement deals were also considered.
"Michael Jackson was in a class by himself," Erk said in his testimony. "He was known as the King of Pop. There’s no one who comes close to him."
Erk added that the 750,000 tickets AEG sold to Jackson’s London concert were sold out in five hours, "record-breaking time. It never happened before, and it still hasn't happened again."
Though Erk did not consider Jackson’s $400 million in debt, Fox News reports that the accountant did consider Jackson’s lavish pre-concert spending, accounting for a projected $134 million that would have to be spent to prepare for “This Is It.”
Jackson’s mother, Katherine, claims AEG is liable for her son’s death because the company failed to properly investigate or monitor the doctor who administered the singer’s lethal dose of anesthetic.
AEG denies having any responsibility for hiring Dr. Conrad Murray, and does not consider itself to be liable for Jackson’s death in June 2009.
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