Currently owned by Texas commodities broker Milton Verret, the coveted piece of clothing most recently helped raise $100,000 in corporate sponsorships for Superhero Kids, a non-profit organization that helps families with cancer patients.
The jacket, signed on the sleeve by the King of Pop himself, cost Mr. Verret $1.8 million but is already shaping up to be well-worth the price. Verret said he plans to keep using the jacket for good.
"There's a lot of companies in this world that can stroke $50 million, $100 checks easy," he told Austin's YNN news. "We raised this first $100,000 and we are going to raise millions more."
What do you think of Michael Jackson's jacket going on tour for charity? Would you ever pay to see it?