Newly-audited reports from Michael Jackson’s estate shows that the late singer has obtained more than $2 billion since he died.
The ‘Thriller’ hitmaker died in 2009 but since his demise, posthumous business dealings have made in an average of over $360 million a year, recently-audited reports have shown.
The paperwork verified Sony bought the ‘Billie Jean’ singer’s 10% lifetime rights to the EMY catalog for $287.5 million and he earned over $72 million from different work deals.
In the years after his death, Michael’s account was roughly $500 million in debut, but now the net value of his possession, cash accounts, and overall earnings are $888,279,305.
And a letter stated: “More than [$150, 000, 000] of gross receipts was received between January 1, 2019, and December 31, 2021.”
A lawyer for the estate applauded executors John Branca and John McClain for their work restructuring the financial structures of the late singer, who is survived by children Prince, 25, Paris, 24, and Bigi, 20.
Lawyer Jeryll S. Cohen noted: “The executors have been able to build extraordinary and unique opportunities that did not exist at the time of Michael Jackson’s death to develop substantial revenues and enhance the picture and legacy of Michael Jackson for the usefulness of the beneficiaries of Michael’s Trust.
“As of December 31, 2021, the Estate produced gross earnings surpassing two billion dollars.”
He went on to add the executors have entered “outstanding business deals” and “established the MJJ business as a significant element in the entertainment industry”.
The pair were also applauded for providing “continual support” for the ‘Bad’ hitmaker’s family as the documents, which have been signed off by a judge in Los Angeles, show all the family homes, mortgages, expenses of the three children, and Michael’s mother Katherine have been covered fully.
