Pop star Michael Jackson who passed on June 25th, 2009 at age 50, his estate was bankrupt, but in the 6 years since his passing, a fortune has been made under his name.
According to TMZ:
The estate has grossed nearly $2 billion since MJ’s death. The money comes from the movies “This is It,” the Cirque show “Michael Jackson: The Immortal World Tour,” 50 million albums sold and various other ventures.
After expenses, that $2 bil gets whittled down to around $800m – which is a very good return. But the $800 mil gets significantly cut by taxes – we’re told to around $450 mil.
MJ’s debts at the time of his death were around $500 million, so just on those 2 numbers the estate approaches being in the black.
But there are other ventures, like Sony, where the estate generates a lot of cash.
As for Michael’s kids, there’s a trust where millions gets distributed as they get older.
Our sources familiar with the financials tell TMZ … if the estate were completely liquidated today, each kid would get around $100 million.
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