N0. 1 Blog for Literary Openings, Gadgets and News in Nigeria

Literary Openings, Gadgets and News in Nigeria | Duketundesblog: TMZ: Michael Jackson's estate has made $2billion since his death

Friday 26 June 2015

TMZ: Michael Jackson's estate has made $2billion since his death

Six years after the death of the pop icon who died on June 2, 2009 at the age of 50. TMZ is reporting that his once bankrupt estate before his passing has made a come back with income up to $2billion.

According to TMZ
The estate has grossed nearly $2 billion since MJ's death. The money comes from the movies "This is It," the Cirque show "Michael Jackson: The Immortal World Tour," 50 million albums sold and various other ventures.
After expenses, that $2 bil gets whittled down to around $800m - which is a very good return. But the $800 mil gets significantly cut by taxes - we're told to around $450 mil.
MJ's debts at the time of his death were around $500 million, so just on those 2 numbers the estate approaches being in the black.  
But there are other ventures, like Sony, where the estate generates a lot of cash.
As for Michael's kids, there's a trust where millions gets distributed as they get older.
Our sources familiar with the financials tell TMZ ... if the estate were completely liquidated today, each kid would get around $100 million.

No comments:

Post a Comment

Thanks for visiting DTB today, Your opinion counts, Please drop your comments, opinion and advise in the comment section. Thanks again and don't forget to bookmark us.

LinkWithin

Related Posts Plugin for WordPress, Blogger...