Michael Jackson continues to thrill the hearts of many music fans around the world, to the delight of his fans… and his heirs. According The Sun on July 4, he would have made nearly two billion dollars since his death in 2009, thirteen years ago. The sale of the rights to 10% of his catalog of songs to Sony would have been concluded once morest nearly 287.5 million dollars, enough to protect his three children forever, while the King of Pop had finished his last months with friends, his house in Neverland seized by justice.
Since the death of the star in June 2009, the executor of Michael Jackson has gradually rebuilt the “Jackson brand” in order to stabilize his finances. “Among other issues, at the time of Michael Jackson’s death, his most important assets were subject to a debt of more than $500 million. A debt in particular due to the mortgage and the utilities of Havvenhurst which had been unpaid for several years”, recalled in 2019 the team of the king of pop during a hearing at the Court of the county of Los Angeles.
His three children, lifetime multimillionaires
Upon his sudden death on June 25, 2009, Michael Jackson bequeathed his fortune to his three children Prince, Paris and Blanket. His mother was also named beneficiary of his trust, a financial concentration bringing together several companies under a single management. In total, specifies The Sun, the value of his property and his income would now amount in July 2022 to 883 million dollars.
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According to the lawyer in charge of the estate, “as of December 31, 2021, the estate has generated gross income exceeding two billion dollars”. His three children, Prince, Paris and Blanket, will be multi-millionaires for life. The reason for this success: having managed to “solidify the company (managing the music rights of the pop star) as an important entity in the entertainment industry, to conclude…unprecedented commercial agreements which produced…significant income for the estate, and settled or eliminated most claims and creditor disputes”.
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