*Michael Jackson‘s estate is bringing in the big bucks again!
His estate was plagued by debt, but now it has $18 million in cash and $600 million in revenue.
This is a major turn around for the King of Pop’s estate!
And guess who are his main beneficiaries?
(Sorry Joe Jackson, everyone knows you wanted your cut too, but MJ’s will says no!)
The kids get an $8 million per year luxury lifestyle. This includes $3 million on education, $300,000 on vacations — a single trip cost $250,000 — $15,000 in pocket money, $600,000 in security and a rental mansion with $28,500 monthly rent, according to the NY Daily News.
But how did MJ get into a hole and then, dig himself out?
The pop icon was spending between $30 – $50 million on himself a year. Plus, he bought the Neverland Ranch which cost $17 million and $5 million to maintain yearly. It was his home from 1988 to 2005.
Also, he spent $65 million on video projects.
But instead of selling his musical catalog after his death, his executors made publishing and licensing deals, sold his FUTURE music rights to Sony for $250 million and made nearly $500 million from the film, “This is It.”
Major celebrities now in financial ruin, take note of what MJ did.
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