DURING HIS lifetime, and even in death, Michael Jackson's fame sat at the pinnacle of Mount Everest.

He was rotten rich, enjoying a lavish lifestyle befitting a king. But Jackson's debt is as phenomenally high. He banked heavily on future income, spent wildly and went broke. Jackson's financial fate could be applied to other mega stars and even local artistes who invest heavily, creating 'kingdoms' and niches.

Olivia Grange, Jamaica's minister of culture, youth and sports, said Jackson's fall from the feather-bedded money heaven is not surprising.

"His lifestyle would demand that a lot of money be spent to maintain it," Grange, a former entertainment manager, told The Sunday Gleaner.

"It is very important that you balance your lifestyle and not be exorbitant. It is a delicate balance but one you have to find," she said.

Entertainers and sports stars at home and the world over have fallen victim to the hype that success brings.

Grange noted that artistes may have to be prepared to invest in "hype lifestyles" at the start of their careers if they are going to be successful, but this must be reconciled with prudent financial decisions.

"It is a difficult situation for entertainers. There is the hype and in order to have an image of success, as the saying goes, you fake it till you make it. You have to look good, you have to be packaged right ... and it takes money."

With reference to Jackson's multimillion-dollar debt the minister said, "He invested in properties that had to be maintained. He would spend quite a lot of money in promoting his records for the kind of publicity and support. He has had so many difficulties where he has had to pay huge sums to settle out of court, so I am not surprised that he would find himself in that situation."

Jackson died suddenly on Thursday at the age of 50, a 40-year career that included the biggest-selling pop album of all time, Thriller.

Beatles catalogue

But despite piling up hundreds of millions in revenue through his talent, Jackson died leaving an estimated $500 million of debt.

The ostentatious lifestyle was made possible in part by a US$200-million loan secured by his stake in the Beatles catalogue, perhaps his wisest financial investment. Jackson owned the music in a joint venture with Sony Corp, known as Sony/ATV. Jackson refinanced those loans in 2006 in a bid to stave off insolvency.

Faced with a mountain of financial worries, Jackson, last November, handed over the title on his Neverland estate in California to a company made up of himself and Los Angeles-based real estate investors Trust Colony Capital LLC, the firm that holds his US$23-million loan on the property.

Dr Jeffrey Walcott, senior psychiatric resident, North East Regional Health Authority, said Jackson, seeing his finances plunge, may have been emotionally devastated.

"Any shift in your comfort level would cause a significant amount of psychological stress. These changes increase the demand on the person physically and psychologically and, therefore, it will increase the drive, the need for production in some people; and in others, it can cause them to develop depressive symptoms. They can crack under the pressure," Walcott told The Sunday Gleaner.

At the time of his death, Jackson was preparing for his big comeback - 50 shows in London. He was said to have been receiving help from the 'Incredible Hulk' to prepare for his 'This Is It' run of shows.