Sunday, June 28, 2015

Michael Jackson’s estate has made $2 Billion since his death

Before Michael Jackson died, there were rumors he was near bankrupt with his expenses becoming unmanageable. Well, 6 years after his death, his estate’s finances have done a drastic U-Turn
Via TMZ:
Sources familiar with the financials tell 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 $800 million — 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.

1 comment:

Comment(s) expressed on this blog belong(s) to the individual(s) making them(it) and it is in no way related to UnizikSugNews or Martin Beck Nworah. For articles or news submission, events coverage, birthdays and adverts on the OFFICIAL S.U.G blog; call 08144322744 OR ziksugnews@gmail.com