The Late Michael Jackson’s Estate Grew to $1.7 Billion, How is This Even Possible?
Ten years and counting – this was how long the great Michael Jackson has been dead. His sudden demise was proof that no matter how extraordinarily talented you are, nothing lasts forever. When the King of Pop died, we all mourned, some downloaded his music, others rewatched his concerts on YouTube.
While a decade has passed since we heard him sing live and got to see him perform, his legacy still lingers, evidenced by the countless films that used his tracks and the repeated playing of his hits on the radio.
He left this world on June 25, 2009, but his name really never left tabloids and news sites. Ironically, Michael remains to be alive in terms of the controversies and issues that unfold. However, credit must also be given to the Moonwalker for still earning serious cash right now despite passing away 10 years ago. Wait, is it really possible to earn throngs of money when you’re dead?
It sure is as far as the singer’s case is concern. Documents filed would show that his estate has increased by a whopping and astonishing $1.7 billion as of Dec. 31, 2018.
So basically the figure only accounts for what was made since last year, and since we’re nearing the end of 2019, it is only safe to assume that this has grown even more. More incredible is if you think about the $500-million debt he left when he died, so how did that happen?
Making the Fortune
His posthumous recordings and even his merchandise helped him build the fortune. According to the documents filed with the Los Angeles County Court, the Executors had done a lot of things that greatly contributed to this, including making sure the MJJ business is seen as a significant player in the entertainment world and securing deals that will increase the amount even more.
They also claim that they helped rebuilt and enhanced the pop star’s image. The late Man in the Mirror singer had left his fortune to his three kids, Prince, 22; Paris, 21; and Blanket, 17, as well as his mother, Katherine.
Of course, Michael’s image was casually tarnished by malicious claims against him, which usually make it to headlines. Take a look at Leaving Neverland, an HBO documentary that tells the tales of the man’s alleged wrongdoings. The Emmy-winning project is actually the cause of the legal battle between the Beat It singer’s camp versus the network.
Michael’s lawyers are using the 1992 non-disparagement deal their client and the channel had signed, stating that HBO had violated the agreement by releasing the documentary. A judge moved the case into arbitration.
The most recent detail that emerged was the account of Michael’s bodyguard, Matt Fiddes, who came to his former boss’ defense, saying there was no truth in the allegations thrown at the late singer. In fact, he said it was one of the reasons that led to his master’s death, explaining the singer became different after allegations erupted.
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