Michael Jackson died in 2022, but his estate is reportedly working on a lucrative proposal.
The estate’s administrators, John McClain and John Branca informed the court of potential additional income sources, according to court records obtained by Radar Online.
The couple petitioned the court for permission to complete a commercial transaction and wanted the court to sign off on the agreements moving forward.
Since Michael Jackson died in 2009, this is said to have been the case.
According to the estate executors, The Michael Jackson Trust is the sole beneficiary of the “Billie Jean” hitmaker’s inheritance. However, his children, Paris, Prince, and Blanket, as well as his mother, Katherine, will benefit.
In addition, deleted paragraphs obscured some deal specifics in the revised file.
Since Michael’s death, his estate has put together several ventures that have made his children billionaires. They point to the film “This Is It,” which came out shortly after his tragic death, as well as a Cirque de Soleil show, an arena tour show, “Michael Jackson THE IMMORTAL World Tour,” and a Broadway show, with several companies planning a national US tour beginning this summer and a West End debut in 2024.
Concerning the potential new deal, the executors stated that they believe they have a chance that will benefit the estate and be in the best interests of the beneficiaries. They asked for permission to proceed with the transaction, but a judge has yet to rule.
Prince Jackson, Michael Jackson’s eldest son, currently works as a producer and director in Hollywood. Creating a music video for his younger sister Paris, a musician, actor, and model, is one of his major accomplishments.
Blanket Jackson, the youngest, is relatively unknown due to his low-key lifestyle.
Although the King of Pop died with a $500 million deficit in his bank account, his family has made nearly $700 million in royalties and commercial ventures since his death.
Paris, Prince, and Blanket earn $8 million per year from Michael’s inheritance, and they are expected to inherit around $2 billion when they turn 33.
According to Celebrity Net Worth, Paris and Prince are reportedly worth $100 million each, but their youngest child, Blanket, is also worth $100 million.