It’s crazy to think that it’s been six years since Michael Jackson died – where does the time go? But we’re not here to reminisce, we’re here to talk about the fact that even though Jackson passed away and therefore hasn’t actually got a current career full of tours and new albums and other money-making schemes, his estate has still pulled in over $2 billion in revenue over the past six years. Whaaaaat?
Sources familiar with the financials tell 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 $800 million — 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.
Not a bad bounce back from the edge of bankruptcy.
We all know his kids are going to be set for life, and good for them to not ever have to struggle. They don’t seem to be too bratty or out of control, so I’m not totally against it. Crazy to see how desperate companies are to continue making money off a dead man, though, isn’t it?
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Why is this surprising? Jimi Hendix has been dead 45 years and still rakes it in, Im sure Elvis and Frank Sinatra and others do too.
And his children are in constant danger because the Jacksons’ will never give up trying to get that money!
lol he is so funnys