When Michael Jackson passed away, he left behind a booming legacy but his estate was on the brink of bankruptcy. In the six years since his death, the estate has grossed nearly $2 billion.
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 whittled down to around $800 million, the $800 mil gets significantly cut by taxes … around $450 mil, according to TMZ.
As for Michael’s kids, there’s a trust where millions gets distributed as they get older.
Sources familiar with the financials tell TMZ that if the estate were completely liquidated today, each kid would get around $100 million.
Last year, Michael Jackson took the No. 1 spot on Forbes’ list of the Top-Earning Dead Celebrities—topping Elvis Presley, Bob Marley and Marilyn Monroe—by bringing in a reported $140 million. That was part of the $700 million that Jackson made in the first five years since his death, according to Zack Greenburg, author of “Michael Jackson, Inc.,” a book about the music legend’s business empire.
Since his passing, Jackson has sold over 13.2 million albums, compared to the 13.1 million he sold from 1996-2008, per Nielsen as reported by The Wrap.
Jackson also has a huge social media following, with more than 75 million likes on Facebook. His verified Twitter account, @michaeljackson, was started the month following his death and has since accumulated 1.84 million followers.
June 25 marked the sixth anniversary of Jackson’s death – who died in 2009 at age 50 – and among the musical tributes to the singer posted on social media, one comes from a group of students from the KM Music Conservatory in Chennai, India.
(Photo Source: AP)