The King of Pop who recently converted to Islam, Mikeel Jackson, is reportedly surviving on a meagre diet of biscuits, painkillers and gravy. Infamous for his extravagance -he has blown up 1 million pounds on luxuries and trinkets, including toys and comic books- the free-wheeling lifestyle and spending sprees now seem to be things of the past.
According to sources, the singer's spending habits are still running out of control, describing him as a "millionaire who lives like a billionaire".
And they say his bizarre sprees have left him close to ruin.
Sources have claimed he will go into a comic store or antiques shop and buy the whole stock. When a catalogue arrives, he will order everything in it.
Jackson's Neverland ranch cost him 17 million pounds initially, 2 million pounds to run and 100,000 pounds for the CCTV security system.
After he was forced to sell it, he had to fork out thousands to rehouse the giraffes and tigers from his private zoo.
His staff bill adds up to 2.5 million pounds a year and he pays Debbie Rowe, 50 - mother of his children Prince, 11, and Paris, 10 - 750,000 pounds a year to stay out of their lives.
However, his aides insist that he is in "great health" - physically and financially.
"Michael is in excellent financial shape. We should all be so fortunate to have his problems," the Daily Star quoted Jackson's family lawyer Brian Oxman, as saying.
"He lives a pretty simple lifestyle these days. The extravagances are in the past. He is very low-key, but he is happy and doing well," he added.
Jackson's bizarre spending habits emerged as he pulled out of a court appearance in Britain at the 11th hour.
The 50-year-old was all set for a showdown with Sheikh Abdulla bin Hamad Al Khalifa, who was suing him for 4.7 million pounds.
However, Jackson struck a deal with the Sheikh at the last minute and left his trusted lawyers the task of thrashing out a settlement.