Michael Jackson’s mother Katherine, 92, set to testify in court against King of Pop's estate
LOS ANGELES, CALIFORNIA: Katherine Jackson, the 92-year-old mother of the King of Pop, Michael Jackson, is reportedly scheduled to testify in court as part of her lawsuit against her son's estate. Court documents reveal that Katherine and the executors of the late pop star's estate, John Branca and John McCain, are set to appear before a judge this month.
Michael's estate previously asked the court to sign off on a deal they secured, with executors Branca and McClain explaining they “have an opportunity which they believe is to the substantial advantage of the estate and in the best interest of the beneficiaries.” The duo has notably run the estate since his demise on June 25, 2009.
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'The Estate was teetering on the verge of collapse'
Court documents reveal that Michael's three children, namely Prince, Paris, and Blanket, are the beneficiaries of his estate. The music legend also provided for his mother for the rest of her life, per his will. The estate reportedly sealed the details of the proposed transaction, and Katherine objected to the deal a couple of months later. The matriarch kept her motion and argument for opposition sealed as well. In response, the estate claimed that they had turned Michael's finances around after his death, after he was allegedly heavily in debt.
“The Estate was teetering on the verge of collapse, with more than $400 million in debt that encumbered Michael’s most significant assets and little or no liquidity or means to service that debt," the motion read, adding, "Through creative thinking, hard work, and business savvy—and, of course, Michael’s extraordinary creative legacy—the Executors transformed the MJJ Business into a profitable enterprise."
Branca and McClain cited Katherine's previous objection to the deal for the 2009 documentary 'This Is It' which the court ultimately approved. According to the executors, the film, which became the highest-grossing concert documentary in history, brought in funds for the estate. They also pointed out that Michael's children had not objected to the deal. Now, in a new filing, the parties have revealed that Katherine will testify at the hearing along with Branca and McClain. The judge has yet to rule on the case, per Radar Online.
Michael Jackson's net worth
Michael Jackson's estate was estimated to be worth $482 million when he died in 2009. At the time, his executors said he had a personal net worth of $7 million. However, documents filed in 2014 with the U.S. Tax Court in Washington revealed that the King of Pop, in fact, had a net worth of $1.125 billion. The acclaimed singer notably broke records after making $2 billion in album sales nine years after his death. The 'Smooth Criminal' hitmaker reportedly left 40% of his estate to his mother, after which the matriarch received $100 million, which is her current net worth, according to The Things. The nonagenarian continues to receive a monthly stipend worth $67,000 from the estate, but reports suggest all of it is spent on her children's and grandchildren's expenses.
In Janet Jackson's eponymous documentary, which came out in 2022, Katherine said she still wasn't ready to talk about her late son. "Mother, how do you feel talking about Mike's passing, is that too much for you?" Janet asked Katherine in one scene. "I can't," the latter responded. Katherine, however, said she was "very proud" of her son "because he did succeed."