When Michael Jackson seen here in 2000 and died in 2009, his estate was bankrupt. But in the six years since his passing, a fortune has been made under his name, TMZ reported on Thursday.
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.
Jackson, seen here in 1984, has been a hot commodity – money has been coming in from the movie This Is It as well as the Michael Jackson THE IMMORTAL WORLD TOUR by Cirque du Soleil and the sales of millions of albumsMUST READ: Whoops! You can almost see Rita Ora nips! The Voice star steps out again without a bra —Take a Look!What do YOU think,
Michael Jackson"s estate has made $2billion since his death in 2009
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