Jackson’s estate makes record profits
August 25, 2011 by admin
Filed under $500 million made following MJ's death
Michael Jackson’s estate since his death has made hundreds of millions of dollars unlike the debt the late King of Pop was in prior to his death.
At the time of his death, Michael’s Beatles catalog was worth less than $500,000 because approximately $300 million had been borrowed against it.
At the time of his death, Michael’s net worth was approximately $50 million.
Records then show that on October, 2010 under the leadership of the Executors the estate was now worth $218,964,000 on top of the $185 million the Estate paid out for loans, family allowances, interest, paying off the Hayvenhurst mortgage, etc.
There are no figures for the current value of the Estate, but sources say it’s worth much more than the valuation in October, 2010. Of course, money has also been made since October 2010 with shows such as Cirque only adding to the coffers.
Making close to half a billion in 15 months seems to be in unusual waters for even the most popular celebrity but once again MJ proves he is unlike any other performer.
Jackson’s estate may end up the most financially beneficial estate in history if this pace continues.
Let us know what you think.
