Michael Jackson, one of the most popular pop musicians of all time, died on June 25, 2009, leaving three children, millions of fans, and a lot of controversies behind. Additionally, he left behind an estate worth hundreds of millions of dollars, leaving many people to wonder what became of it.
Most of It Went to His Mother
Michael Jackon’s mother, Katherine is reported to have received the largest single share of his estate, at approximately 40% of its total worth, including a monthly payment of $86,804. Her inheritance is set to go to Jackson’s children when she passes away. (Stromectol) Controversy has followed the Jackson family matriarch around, with various reports of her failing health being made and then disputed and her being issued a temporary restraining order against Trent Lamar Jackson, her nephew, in 2017.
His Kids Got the Next Largest Share
As one might expect, Michael’s children, Prince, Bigi, and Paris, who are currently in their late teens and early 20s, got the next largest chunk, when they split approximately 40% of his estate, providing them each a yearly payment of $8 million. The oldest, Prince, graduated with honors from Loyola Marymount University in 2019 and started a production company called King’s Son Productions in 2016. Jackson’s daughter, Paris, and her boyfriend Gabriel Glenn started a band called The Soundflowers in 2018. She has also secured some acting roles and modeling jobs. His youngest child, Bigi, formerly known as Blanket, has mostly stayed out of the public eye but does have a YouTube Channel called Film Family with his brother Prince. They talk about film releases once a week.
Charities Also Got Their Share
Jackson was known for his philanthropic work during his life, so it is no surprise that the remaining 20% of his estate went to charitable organizations. While the charities were not specifically listed, they are believed to be the 39 different children’s and other charities Jackson supported before his death, including End Hunger Network, Childhelp USA, Ronald McDonald House Charities, Make-A-Wish Foundation, Elizabeth Taylor AIDS Foundation, and others.
Sony Got the Song Rights
The Sony Corporation paid Jackson’s estate, administered by John Branca, $750 million for a 50 percent share of the Sony/ATV music publishing company. Because the publisher, formerly owned by Jackson, held the rights to about 4,000 songs, Sony also acquired the publishing rights to some other high-profile artists’ music, such as The Beatles and Little Richard. Jackson originally acquired the publishing company for $47.5 million but sold a 50 percent share to Sony in the mid-’90s to cover his debts. Since that purchase, Sony has grown the Sony/ATV catalog to more than three million songs. However, the Jackson estate still owns Michael’s master recordings.
The unexpected, sudden passing of the music legend left three children without a father and legions of fans without their pop icon. However, efforts to maximize the value of the estate he left behind has ensured Jackson’s mother and children are financially secure, while also benefiting numerous charitable organizations.