The estate of the Michael Jackson has been cashing in since his untimely passing. In the latest accounting of the King of Pop’s posthumous empire, the estate has earned a whopping $310 million since the singer’s death from an accidental drug overdose in June 2009.
Outside of the extensive music and merchandising deals, the “This Is It” movie has been a huge contributor to the pot, grossing more than $261 million worldwide, according to boxofficemojo.com.
The estate has paid back roughly $159 million in debts and expenses of the $400 million debt the empire faced, court documents revealed. In addition, the estate has paid for “substantial improvements” to the Jackson family compound in Encino, Calif., and supports Jackson’s mother and three kids, the paper’s show.
The kids started out with a monthly allowance of $50,100 and got $59,629 monthly allowance in October. Meanwhile, Katherine Jackson has complained publicly that the $7,000 to $8,000 cash allowance she receives each month has not been enough to cover expenses. The estate used to pay her $26,804 monthly.
The papers also say Michael Jackson neglected to pay his taxes in 2006, 2007 and 2008, so the lawyers had to straighten all that out.
It’s been almost 11 years since the world lost Michael Jackson, a music legend and international icon. Yet despite his passing, his estate continues to bank millions in revenue every year. In fact, according to reports from Forbes Magazine, Michael Jackson’s estate has earned over $300 million dollars since his death! This is an incredible feat for one of the most influential entertainers of all time. But how exactly did this happen? Let’s explore just what made it possible for Michael Jackson’s legacy to keep earning money long after he was gone.
Overview Of Financial Earnings
Michael Jackson’s estate has made over $300 million since his passing in 2009. It is an impressive feat considering the music icon passed away at just fifty years old, leaving behind a legacy of both hit songs and controversies. His success posthumously speaks volumes about his impact on pop culture and entertainment.
The earnings come from record sales, streaming services, merchandise and other assets associated with Michael Jackson’s name. For instance, Cirque du Soleil’s “One” show featuring MJ’s music reportedly earned an estimated $1 billion dollars within its first two years alone. Similarly, Sony Music purchased the rights to all of Michael Jackson’s master recordings for $250 million back in 2016; this deal was one of the biggest ever signed by any artist or their estate.
Clearly, there has been no lack of money flowing into the late singer’s estate. Despite criticism surrounding some business decisions taken after his death – such as selling off parts of Neverland Ranch – it appears that these strategies have paid off handsomely in terms of financial returns. As such, it can be said that Michael Jackson continues to make a powerful mark on popular culture even today, more than ten years after his untimely demise.
Sources Of Revenue
So, where does all this money come from? It is a combination of various sources that have contributed to the success and growth of Michael Jackson’s estate. Let’s take a closer look at some of them.
One major source has been record sales; since his passing in 2009, over 31 million albums and singles have been sold around the world. Not surprisingly, this makes him one of the top-selling artists ever – even more than ten years later! Additionally, streaming services such as Spotify and Apple Music also offer MJ fans an easy way to access his music anytime they want, bringing more revenue into the estate.
Another huge contributor to earnings are merchandise sales related to the King of Pop himself. His signature style is still seen everywhere today – t-shirts with iconic images on them or items bearing quotes from his songs can be easily found in stores across the globe. This type of commercialization continues to keep his legacy alive long after he was gone.
It is clear that Michael Jackson remains as popular as ever among people worldwide; not only do many listen to his classic tunes but also wear clothing inspired by him and purchase souvenirs featuring him too. With so much demand for anything associated with MJ, it is no wonder why his estate has earned hundreds of millions since he passed away.
Conclusion
It’s been ten years since Michael Jackson’s untimely passing, and his estate has continued to bring in massive amounts of money. Over the past decade, it is estimated that the late singer’s estate has earned more than $300 million dollars. This figure speaks to just how influential and beloved he was during his life and continues to be after his death.
Where does this money come from? Most of it comes from selling off parts of his catalogues such as rights to songs, music videos, books, merchandise, touring and events. Additionally, a large share also comes from partnerships with companies like Sony/ATV Music Publishing which jointly owns half of Jackson’s catalogue. The rest comes from deals related to Cirque du Soleil shows and movie adaptations based on his iconic songs.
There have been many others who have tried to keep Michael Jackson’s legacy alive through various projects over the years – but none are able to match what his estate has achieved financially over the last 10 years. Even though Michael is no longer with us physically, there will always be an appreciation for him worldwide not only because of his incredible talent but also due to the wealth he left behind for future generations.
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