In his will, MJ left his three children 40% of his fortune, to be divided equally. Twenty percent of his fortune was donated to several children’s charities, and the remaining 40 percent all went to his mother, Katherine.
However, the heirs in question – sons Michael Joseph Jackson Jr. and Prince “Blanket” Jackson II, and daughter Paris – are set for life. According to Life & Style Magazine, each of the children will receive $8 million annually. When the children reach the age of 33, they will each receive an equal share of one-half of the estate.
Under the terms of the trust, Michael Jackson’s children will each receive $33 million. Michael’s mother, Katherine Jackson, will receive her share of the estate immediately and any remaining portion when she dies will be split between Prince, Paris and Blanket.
Now, after HBO’s explosive documentary, Leaving Neverland, that investment could take a hit. According to The Wall Street Journal, Sony paid $250 million for Jackson’s music, allowing it to collect royalties from music streaming services and radio stations playing songs from the “Thriller” singer’s catalogue.
Michael Jackson ($75 million)
The King of Pop died in 2009 but remains one of the highest-earning celebrities. After topping the list a staggering eight consecutive times, Jackson has dropped to third place. This is despite the fact that his estimated 2021 earnings have increased by $27 million since 2020, according to Forbes.
Guardianship of his three children will be entrusted to his mother Katherine, or if she is unable or unwilling to do so, singer Diana Ross. Jackson’s will allocates 20% of his fortune, as well as 20% of money earned after death, to unspecified charities.
Net Worth: $190 million
With a net worth (per Celebrity Net Worth) of $190 million, Janet Jackson is the richest member of the Jackson family.< /p>
A billionaire former employee of Michael Jackson has bought the pop star’s former home, Neverland Ranch. Ronald W. Burkle, co-founder of investment firm Yucaipa Companies, bought the ranch for $22 million, the Wall Street Journal reported.
In 2008, however, Jackson sold his remaining interest in the catalog to Sony, one of his major creditors. After his death, Sony took full control of the catalog.
According to Forbes, Michael Jackson was the highest-earning dead musician of 2019. The King of Pop, who died a decade ago, made about $60 million this year, making it to the top for the seventh straight year the list.
Why did Michael Jackson buy the rights to Eminem’s songs? Michael bought the company that owned Eminem’s songs, Famous Music, three years after the rapper targeted him in his 2004 song “Just Lose It.”
Sony will now control the entire company, which was founded in partnership with Jackson in 1995. Jackson died in 2009 at the age of 50. The singer’s estate will continue to own Jackson’s master recordings and the publishing company, which owns all of the songs he wrote.
Michael Jackson now owns the rights to Eminem’s back catalog after his affiliate Sony/ATV bought publisher Famous Music for $370 million.
It has been reported that Michael Jackson has earned a staggering $1.3 billion (£801.4 million) since his death. This comes from a number of sources including his real estate sales investments as well as his own leftover money.
Jackson’s estate has reportedly raised more than $700 million since his death in 2009. This amount comes from the documentary filmed about the time leading up to his scheduled tour, This Is It.
On August 14, 1985, Michael Jackson amazingly paid a whopping $47.5 million to own the Beatles’ entire back catalog of material, a move that angered Paul McCartney no end when he himself the person who told Jackson about the auction in the first place and rightly felt cheated.
Jackson still owns the house and the house next door and he drops by from time to time. Disappointing. Large stone monument no longer exists. The only way to tell it was MJ’s home is that it’s the prettiest neighborhood with a metal fence around it.
In September 2016, Sony acquired the Jackson estate’s interest in Sony/ATV in a deal valued at approximately $750 million. The Jackson Estate retained a 10% interest in EMI Music Publishing and its ownership of Mijac Music, which holds the rights to Michael Jackson’s songs and master recordings.
First, she is NOT a billionaire
Contrary to rumors on the internet, Janet Jackson is not a billionaire. She was previously married to billionaire businessman Wissam Al Mana, a Qatari retail magnate, but they split in 2017 shortly after the birth of their son Eissa.
Randy Jackson faces bankruptcy
Like many of his siblings, he was attempting to pursue a musical career independently of his siblings, but his own group, Randy & the Gypsies only released one album before disbanding. His private life was also marked by setbacks and disappointments.