The business of Michael Jackson has made far more after his loss than it did while he was alive after the King Of Pop’s estate just revealed it has earned over $2 Billion since the singer’s loss.
According to legal documents, obtained by The Bla-st, the ex-ecutors in ch-arge of the enormous Michael Jackson Estate have filed a new report detailing the accounting of the late singer’s businesses concluding it has earned in “excess” of $2 Billion as of the first of this year!
It is an amazing feat considering Michael Jackson passed away with over $500 million in debt and had a ton of creditors coming after his property.
In the documents, which are filed with the court, the estate explained the extremely challenging circumstances which included debt accru!ng at extremely high-interest rates as well as facing defa-ult on the Jackson Family Residence at Hayvenhurst.
At the time of his loss, ex-ecutors have to secure one of his most prized possessions — an interest in the Sony Music Catalog. In the filing, attorney’s for the King Of Pop explained they “successfully rebuilt and enhanced Michael Jackson’s image, solidified the MJJ business as a significant entity in the entertainment industry, entered into and continue to enter into unprecedented business deals that have produced, and will in the future produce, significant revenues for the Estate”.
Plus, the massive amount of money has provided for Michael Jackson’s mother, Katherine Jackson,, and his three children (Paris, Prince, and Blanket) “uninterrupted” with financial support which is what Michael intended. As we said, the ex-ecutors must file the accounting documents and get the approval from an L.A. County judge in order to continue to conduct business and take care of his beneficiaries.
A list of MJ’s assets is included in the filing and it is amazing! The singer owned several Rolls Royces, multiple homes, and of course his MUSIC! It should be noted, the executors include many of the expenses and distributions to Michael’s family in the accounting, and it includes everything from college tuition to a Toll Roads v!olation. As for the Rolls Royces’, they are worth almost $300,000, and the estate even paid for a $40,000 replacement statue for the front of Neverland Ranch.
The family allowances listed include Michael Jackson’s children’s growing real estate portfolios too. As we reported, MJ’s youngest son, Blanket, recently purchased a house next to Dr. Dre, on the outskirts of Los Angeles.One thing is clear, Michael Jackson’s loss was a tr-agic and terr!ble moment in history, but he has provided for his family since his loss which is something he would have wanted. Luckily, he was also blessed with some amazing ex-ecutors and advisors that have pu-shed his business into the stratosphere!
This Article First Published On THEBLAST