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Friday, June 26, 2015

MUSIC: Jackson’s estate has grossed nearly $2 billion since death

Ever since pop star Michael Jackson passed away, a fortune has reportedly been made from his name.Michael Jackson 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.
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