A lawyer for the estate praised executors John Branca and John McClain for their work restructuring the financial arrangements of the late singer, who died in 2009.
- Jul 8, 2022
AceShowbiz - A new document shows how much late Michael Jackson has earned since he died. According to recently-audited records, the late musician earned more than $2 billion since his passing in 2009 as posthumous business dealings have brought in an average of over $360 million a year since the "Thriller" hitmaker's passing in 2009.
The paperwork confirmed Sony bought the "Billie Jean" singer's 10% lifetime rights to the EMY catalogue for $287.5 million and he earned over $72 million from separate work deals. In the years after his death, Michael's account was around $500 million in debut, but now the net value of his property, cash accounts and overall earnings are $888,279,305.
A note stated, "In excess of [$150, 000, 000] of gross receipts was received between January 1, 2019 and December 31 2021." A lawyer for the estate praised executors John Branca and John McClain for their work restructuring the financial arrangements of the late singer, who is survived by children Prince Jackson (25), Paris Jackson (24) and Bigi (20).
"The executors have been able to create exceptional and unique opportunities that did not exist at the time of Michael Jackson's death to generate substantial revenues and enhance the image and legacy of Michael Jackson for the benefit of the beneficiaries of Michael's Trust," lawyer Jeryll S. Cohen said. "As of December 31, 2021, the Estate generated gross earnings exceeding two billion dollars."
He went on to add the executors have entered "unprecedented business deals" and "solidified the MJJ business as a significant entity in the entertainment industry." Additionally, the pair were praised for providing "uninterrupted support" for the "Bad" hitmaker's family as the documents, which have been signed off by a judge in Los Angeles, show all the family homes, mortgages, expenses of the three children and Michael's mother Katherine have been covered fully.
