Michael Jackson’s fortune: 15 years later, where did the billions go?
25 June 2024 15:37
It has been 15 years since the death of Michael Jackson. Although many films and reports about the artist's life have been made during this time, many people still wonder where the millions that the legendary musician was known for are today.
The King of Pop's fortune was estimated at around $1.1 billion during his lifetime. According to his will, two family administrators took over the management of his estate, including the music catalogue.
Michael Jackson's children - Blanket, Prince, and Paris moved into their grandmother Katherine's house after his death. According to media reports, they and the 94-year-old took custody of the estate.
However, it turns out that access to the vast amount of money, though entitled to the artist's family members, is... allocated.
Michael Jackson's heirs receive the inherited fortune in stages. Their accounts will receive monthly payments of around $85,000.
The heirs are also responsible for the musical legacy. But there's a catch. The artist's children will receive distribution rights only after turning 30.
In February 2024, it was announced that Sony Music bought approximately 50% of the rights to the songs from the heirs for around $1.3 billion.
