Where are Michael Jackson's millions now? Unraveling the mystery
It has been 15 years since Michael Jackson's death. Although many films and reports about the artist's life have been produced during this time, many people still wonder where the millions the legendary musician was known for are today.
2:09 PM EDT, June 25, 2024
The King of Pop's fortune was estimated at around 1.1 billion dollars during his lifetime. According to his will, two family administrators took over the management of his estate, including his music catalog.
Michael Jackson's children - Blanket, Prince, and Paris moved into their grandmother Katherine's house after his death. According to media reports, they, along with the 94-year-old Katherine, took custody of the estate.
However, access to the vast amount of money, though entitled to the artist's family members, is allocated.
Michael Jackson's heirs receive the inherited fortune in stages. Their accounts will receive monthly payments of around 85,000 dollars.
Additionally, the heirs are responsible for the musical legacy. However, there's a catch. The artist's children will receive distribution rights only after turning 30.
In February 2024, it was announced that Sony Music bought approximately 50 percent of the rights to the songs from the heirs for around 1.3 billion dollars.