The surviving members of Jackson's family, including his mother and three children, are also asking for unspecified damages based on what the singer could have earned by performing had he not died in 2009 at the age of 50.
Attorney Brian Panish disclosed the amount Jackson's survivors hope to receive in personal damages during his closing arguments Tuesday.
AEG's lawyers are to make their own closing arguments Wednesday. Panish will then offer his final rebuttals before the jury gets the case, the BBC said.
Jackson's family is suing the promoters for allegedly failing to properly supervise Dr. Conrad Murray, the personal physician hired to care for Jackson as he prepared for a string of comeback shows in London.
Murray is serving a four-year prison sentence for involuntary manslaughter for administering lethal amounts of sedatives and anesthesia to Jackson in an effort to help Jackson sleep.
2014: The Year in Music [PHOTOS]