How much is Michael Jackson's estate worth? Inside late singer's fortune amid Wade Robson lawsuit scandal
MMJ Productions and MMJ Ventures are in the clear yet again after the court ruled that the companies were not responsible for protecting Robson from sexual abuse
Michael Jackson's loan-out companies MJJ Productions and MJJ Ventures have bagged another legal win as of Monday, April 26, 2021. A California court has dismissed a sexual abuse lawsuit brought to them by Wade Robson, who starred in HBO's documentary 'Leaving Neverland', citing the companies had no legal obligation to protect him. Robson had filed the lawsuit in 2013 and had alleged that he endured sexual abuse by the late pop star for seven years.
He alleged that the abuse started in 1990 when he was seven years old. The suit was dismissed due to limitations but was later revived in 2020. This was after California amended its state law to give plaintiffs in child sex abuse cases more time to sue.
Is this the first lawsuit for MJ estate?
MJ's estate was handed out another win not very long ago in its battle over the 2019 HBO documentary. They sued the network for $100 million, arguing that the documentary violated a 27-year-old non-disparagement clause from a 1992 concert film from the 'Dangerous' tour.
The late pop singer's business has made more money after his death and his estate had declared it earned more than $2 billion since the star's demise. According to legal documents obtained by The Blast, the executors in charge of the estate had filed a report detailing the accounting of MJ's businesses, stating it had earned in "excess" of $2 billion as of January 1, 2020.
What was Michael Jackson's net worth?
Jackson died with at least $500 million in debt and a ton of creditors lined up to collect what they were owed by his companies. A few years later, the estate was flourishing and it was considered a remarkable feat by many. In court documents filed in 2020, MJ's attorney's had explained that 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."
Even after his death, MJ continued to pull in money as his estate created a post-mortem tour in partnership with Cirque du Soleil called 'Michael Jackson: The Immortal World Tour' that reportedly grossed $360 million when it ended in 2014.
How much is Michael Jackson's estate worth?
In 1985, MJ had bought publishing rights to the Beatles' early catalog including many of their greatest hits for $47.5 million. In 1995, he merged the catalog with Sony's, reportedly raking in $115 million for giving up half of the ownership of the catalog.
His stake in Sony/ATV Music Publishing was sold to Sony Corp for $750 million in 2016, which was arranged by his attorney John Branca along with Howard Weitzman who died earlier this month. This was majorly responsible for reviving his estate from debt. According to Money Magazine, the singer's estate had raked in close to $825 million in 2016 and his net worth the following year was estimated to be $500 million.