*Must be pretty nice, if you’re one of Michael Jackson’s three kids.
According to the New York Post, Prince, Paris and Blanket Jackson take home an allowance of $8 million a year. The publication adds that the $8 million is separate from the $1 million-plus Katherine Jackson receives to watch over the kids.
Expenses include Prince’s $30,000 yearly tuition at a private school and the six-figure yearly payout to house, educate and treat Paris at a therapeutic boarding school in Utah following her 2013 suicide attempt.
A family insider tells the Post that Prince has put his money towards a personal cause with more than $50,000 in custom-made jewelry and other gifts on at least three different girlfriends.
The Jackson siblings shell out about $350,000 to vacation in Hawaii and Vegas annually after paying for bodyguards, relatives, chauffeurs and first-class airfare, among other things.
While Paris buys gifts such as footwear and athletic gear for her friends at school, Blanket pays $200 an hour for karate lessons and more for a personal trainer.
“These things that they’re doing they are mostly paying for themselves, with their own money. Look, they also get $15,000 to $20,000 every month just in walking-around money. No one else has that kind of dough around here,” a source shared with the Post. “This is why you have had so much of the fighting going on in the family. But the battles have calmed since their uncles have finally found consistent work and everyone has pretty much left [Katherine] alone about money.”
While Michael’s kids aren’t shy about using their money to get what they want, Jackson family members believe Prince, Paris and Blanket are a lot more frugal than their legendary father was.
“They’re not [as bad] as their father . . . They also seem to have more of a sense as to when they may be going overboard,” the source told the Post “They’re not [as bad] as their father . . . They also seem to have more of a sense as to when they may be going overboard.”
For more details on the Jackson kids’ $8 million a year allowance, click over to the NY Post.