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MJ Estate Spends Millions on Kids, Mom in 2024
7 Oct
Summary
- Michael Jackson's estate paid out millions to his three children.
- The singer's mother, Katherine, also received over $4 million in benefits.
- The estate, valued at over $1 billion, continues to generate significant profits.
The estate of the late pop icon Michael Jackson has continued its significant financial distributions in 2024, with millions allocated to his children and mother. Executor John Branca's yearly accounting report details expenses and profits, showcasing substantial benefits for Prince, Paris, and Bigi Jackson.
Paris received approximately $6.3 million, covering tax bills, legal fees, travel, and substantial home maintenance costs. Prince's benefits totaled around $6.4 million, including significant expenditures on his gas card and a large tax payment. The youngest son, Bigi, was allocated about $3.1 million for expenses like HOA fees and taxes.
Katherine Jackson, Michael's mother, received over $4 million. Her benefits included funds for legal fees, event services, property upkeep at Forest Lawn, and various personal expenses like cakes and catering. Despite the ongoing distributions, the estate, valued at over $1 billion, is reportedly performing exceptionally well.
This financial success is attributed to continued revenue streams from "MJ The Musical," which earned a Tony Award, and the highly successful Cirque du Soleil show in Las Vegas. The latter has extended its run through 2030, ensuring sustained profitability for the estate.
