Michael Jackson: So Broke He Needed Tour To Buy a Home

It's a shocking testament ... Michael Jackson -- who amassed hundreds of millions of dollars during his storied career -- needed the "This Is It" tour so he could afford a house for his children.

During the wrongful death trial Wednesday afternoon ... AEG honcho Randy Phillips told the jury about an emotional meeting he had with MJ around Halloween, 2008. Phillips said a tearful Jackson told him his 3 kids were living "like vagabonds" -- shuttling from a Las Vegas rental to the Bel Air Hotel in L.A.

Phillips said Jackson wanted a home the family could call their own, and needed the "This Is It" tour to make enough money to realize that dream.

Phillips said the meeting was so emotional, both he and Jackson cried.

But get this ... the next day Phillips met MJ again, and the singer revealed the home he wanted to buy --- a 40,000-square-foot estate with a $93 million price tag. Phillips told MJ he thought it was ridiculous to blow his wad on the property.

MJ eventually settled on renting the house where he died.

What in the HELL is wrong with Michaels youngest kid Wet Blanket?...He always looks so disturbed in pictures...What is he Korean? Samoan? Tongan? Filipino? Eskimo? Jamaican? He may also have some Columbian in him. Which I find odd because Michael made sure his kids DNA came from SMART Countries..And the ones mentioned are NOT!

Waste money like a king, live like a homeless queen.

Born a beautiful black boy...died an old white woman.
Not funny ... but true ...HeHe!!!

But on the other hand ...
He was delusional from all of the drugs flowing through his veins. Maybe Paris had a breakdown because she's discovered there isn't a red cent left for her or her siblings after Jackson spent like a fool and his parents siphoned off anything else. It's all so absurd and Katherine Jackson seems more and more senile and out of touch. No wonder the judge wants a complete review.