Michael Jackson proved why he will remain the King of Pop for generations to come when it was revealed the revenue that his estate has generated nearly a year after his untimely death.
Jackson the undisputed King of Pop, is well known as one of the world’s greatest singer-songwriters, philanthropist, activist but what isn’t given as much credit is his astute business senses when it came to longterm investments.
In less than a year after Jackson’s passing it’s being reported that his estate has brought in an astonishing $1 billion which is 3/4 of what Elvis’ entire estate has made since his passing 33 years prior.
The figures come from his own personal album sales which shot up in the days after his death as well the catalog of music he owns with Sony/ATV. Jackson moved 400,000 records in just the first couple of days after his death and millions in digital units as well.
Also on the table is the largest recording contract in history the estate signed with Sony for $250 million. There is also a Michael Jackson inspired Cirque du Solielle show in the works that will bring in another $200 million.
Reports before his death stated that Jackson was in debt but even taking those allegations into consideration Jackson’s estate will still have banked an astounding $500-750 million in revenue.
Having a stellar mind for business dealings it’s being said that Jackson’s children will be billionaires when they become eligible for their complete inheritance at 40 years old. Jackson’s will provides for an allowance for the children while the money is managed by the estate until they become of age.
Jackson left 20% of his estate to charity, 40% of his mother Katherine, and the remaining 40% divided equally between his children.