Late King of Pop Michael Jackson’s estate has made $600 million since his death in 2009. It is more money than the Thriller star ever minted while he was alive.
The money primarily came from ticket sales such as Cirque du Soleil’s Michael Jackson’s One and profits made from the film of Jackson’s concert performances, This Is It, according to US documentary Michael Jackson 60 Minutes.
“Worldwide box office now is over $300 million. And Michael has almost 60 million Facebook friends. He’s the biggest selling artist on iTunes and has sold approximately 50 million albums since he passed away,” John Branca, a co-executor on Jackson’s will, told US TV channel CBS.
Jackson had debts of approximately $500 million before he died in June 2009 after an overdose of prescription drugs, termed as acute propofol intoxication.
A Forbes reporter, who has covered Jackson’s estate in depth, said: “He never stopped spending like it was the 1980s… he was making 50, 60, 80, over 100 million dollars into the 1990s.”
After the first charge of assault in 1993, he became radioactive. He didn’t tour again in the US, brands dropped him from their commercials and the upkeep of Neverland really added up. Since Michael Jackson died the estate has taken over $600 million in four years, and that’s more than any single living artist made over that period of time.
As stated in Jackson’s will, he intended 20 percent of his estate to go to charity, 40 percent to his children and 40 percent to go to his mother as long as she was alive.
The possessions include Jackson’s 30-year car collection, antiques and videogames from the Neverland Ranch and the black sequined jacket he wore in the video for Billie Jean.
Published in The Express Tribune, May 23rd, 2013.
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