Even in death Michael Jackson's name earns a staggering amount of money and here's who gets it
It’s been more than a decade since the world lost one of the most iconic entertainers of all time. Michael Jackson died in June 2009 at the age of 50 while leaving behind three children – Paris Jackson, Prince Michael Jackson II, Prince Jackson — and his legacy. During his life, the King of Pop was honored with 15 Grammy Awards, a Golden Globe Award, six Brit Awards, a Juno Award, and 39 Guinness World Records, including the ‘Most Successful Entertainer of All Time’.
Not just that, he also became one of the only musicians to be inducted into the Rock n Roll Hall of Fame more than once. In his acceptance speech, he had said, “I’m honored to be inducted twice in the Rock & Roll Hall of Fame. It’s a great blessing,” before adding, “For me, the gift of music has been a blessing from God from the time I was a child. So I, first of all, would like to thank my parents who bequeathed me that gift.” He then went on to express his gratitude to former record executive and Motown founder Berry Gordy by saying, “He was so important in our lives. And, uh, he is really my real inspiration and I owe him so much.”
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Tony Awards 2022: Michael Jackson's fans grow emotional as Paris and Prince pay tribute to late dad
But the magic of Jackson's work and popularity did not end with his unexpected death. Reportedly, he has been one of the highest-earning celebrities even after losing his life. The List reported that his estate, estimated to be worth $482 million but later found to be $111 million, has been able to carry on his legacy by releasing “a number of projects centering Michael in the 12 years since he died. Two Cirque du Soleil productions, ‘The Immortal World Tour’ and ‘One,’ have raked in millions. In 2016, Sony Corporation bought out Michael's share of Sony/ATV for $750 million. In 2018, they paid another $287.5 million to acquire his portion of EMI Music Publishing catalog.”
Besides, in 2020, Forbes estimated Jackson’s annual earnings at $48 million and went on to state that “the 2019 release of the damning documentary Leaving Neverland didn’t cost the King of Pop his crown. Jackson’s Mijac Music catalog, which includes tunes by Elvis and Aretha Franklin, and a long-term deal with Sony, account for more than 70% of his earnings.”
The ‘Billie Jean’ singer's children reportedly have had enough for their respective lives — all credit goes to their legendary father. After his death, each of them reportedly got an $8 million allowance annually. A report said, “When the children turn 33, they will each acquire equal shares of half the estate. When the children turn 40, they will each acquire equal shares of the remainder of the estate.” In addition to his kids, Jackson left 40 percent of his estate to his mother – Katherine. She is also eligible for “$86,804 per month for the rest of her life.”
Recently, Paris and Prince Jackson paid tribute to their late father at the Tony Awards. Prince said, “A lot of people seem to think our dad Michael Jackson changed popular music forever. And who are we to disagree?”
The 25-year-old then added: “But what people may not know is he loved musicals, on film and on the stage. That’s why we are so incredibly honored to introduce the night’s first nominee for best musical, ‘MJ,’ which, using many of his iconic hits, looks at the complexities and brilliance of our father’s process.”
Besides, in a March 2021 interview, Paris had spoken about her father. She said: “My dad was really good about making sure we were cultured, making sure we were educated, and not just showing us like the glitz and glam, like hotel hopping, five-star places. Growing up, it was about earning stuff. If we wanted five toys from FAO Schwarz or Toys R Us, we had to read five books. It’s earning it, not just being entitled to certain things or thinking, ‘Oh, I got this.’ It’s like working for it, working hard for it — it’s, it’s something else entirely. It’s an accomplishment.”