Michael Jackson’s Estate Has Made Millions Since His Death
Michael Jackson's Estate Has Made $310 Million Since His Death
I am not sure why but this seems to happen alot to stars that there worth more dead than alive. Like Elvis. Michael Jackson's estate is making money in a big way. Legal documents obtained by TMZ.com show the estate has made 310-million-dollars since the King of Pop's death in June of 2009. The documents, filed by the estate's executors, also reveal that Jackson was more than 400-million-dollars in debt when he died. The estate has already paid back approximately 159-million-dollars in debt, income taxes and other expenses. It has also doled out payments to Michael's mother, Katherine Jackson, to make "substantial improvements" to the family's home in Encino, California and to pay for "funeral and memorial service expenses."
In addition to outstanding debt, Jackson's estate also has 40-million-dollars in liabilities to concert promoter AEG. That's the group behind the singer's ill-fated "This Is It Tour," for which he was rehearsing when he died. Estate executors say they are still facing numerous lawsuits, but claim they have, quote, "successfully rebuilt and enhanced Michael Jackson's image."