Jackson wore the jacket in the 1983 video, in a scene with a troupe of zombies who rise from their graves and break into a dance routine.
It was bought by a Texas commodities trader who said he planned to use it to raise money for children's charities.
The sale was organised by Julien's Auction in Beverly Hills.
Some of the proceeds will go to an animal preserve in California where Michael Jackson's two Bengal tigers, Thriller and Sabu, are living.
Other items sold at the auction include one of the singer's wigs and a glove he wore to the American Music Awards in 1984.
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