Michael Jackson died 6 years ago today, and TMZ has learned his estate went from the brink of bankruptcy to financial fortune … and his kids are now better off than their famous dad.
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.
Not a bad bounce back from the edge of bankruptcy.
via tmz.com
