Michael Jackson was one of the most successful entertainers of all time. During his career, he amassed a huge fortune. So, who are the heirs to his estate? And what is the current value of his net worth? Let’s take a look.
Michael Jackson’s Net Worth
Michael Jackson was a pop icon and one of the most successful singers in history. When he died in 2009, Michael Jackson was in debt of $500 million, because of his notorious spending habits, which led to him accumulating massive debts totaling $500 million by the time of his death.
Jackson’s lavish lifestyle cost him around $50 million per year, including $12 million paid to his ex-wife Debbie Rowe. In the years between 1985 and 1995, Jackson earned an average of $50-100 million per year, but he quickly burned through it all.
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Some of his most extravagant purchases included the purchase of the Neverland Ranch, where he housed a menagerie of exotic animals, and the construction of a $1 million crystal bathtub.
Despite his financial troubles, Jackson continued to tour and sell records until his death in 2009. In the decade since his death, Jackson’s estate has earned over $700 million in revenues.
Who Are the Heirs to Michael Jackson’s Fortune?
Michael Jackson left the bulk of his estate to his three children: Prince, Paris, and Blanket. His mother, Katherine Jackson, is the trustee of their inheritance and manages their trusts.
She receives an allowance from the trusts to cover her living expenses. The rest of the money is used for things like education and health care for the children. When they reach adulthood, they will each receive their share of the trust fund—which is currently valued at $700 million.
While it is impossible to know the exact value of Michael Jackson’s estate, we do know that his net worth was significant. Even more importantly, we know that his legacy will continue to live on through his music and through the lives of those he has touched.