Wow: Pop King Micheal Jackson Still Making Money After His Death
Ever since the death of pop king Micheal Jackson, a fortune has reportedly been made from his name.
According to TMZ, the estate has grossed nearly $2 billion since Jackson’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 billion gets cut 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 million.
MJ’s debts at the time of his death were around $500 million, so just on those two 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.
Sources told TMZ that ‘if the estate were completely liquidated today, each kid would get around $100 million’.
Michael Jackson died June 25th, 2009 at the age of 50.