The phenomenon of dead musicians outselling living ones continues, it’s been reported that Michael Jackson’s estate has made €120 million so far this year.
Elvis Presley, Tupac Shakur, and Kurt Cobain have all managed to accumulate millions since their deaths and Jackson is following right in their footsteps.
After the King of Pop passed away in 2009, it was revealed that he left behind more than half a billion dollars worth of debt.
If you’ve ever seen any documentaries about Jacko, you’ll understand how he racked up such a hefty bill.
The upkeep of his massive 2,700 acre Neverland Ranch estate was just the start of it. Numerous legal bills and the singer’s notorious spending sprees led him to the brink of financial ruin.
In Jackson’s will he named his executors as L.A. lawyer John Brance and producer and friend John McClain. The duo have spent the last few years trying to clean up the mess that was left behind.
The pair managed to sort out the debt problems for Jacko’s estate by renegotiating the singer’s Sony contract and by releasing the concert film ‘This Is It’.
The deceased stars stock continues to rise, Bloomberg reports that the Michael Jackson Immortal World Tour, which used the King of Pop’s music in conjunction with the Cirque du Soleil acrobatics show raised over €300 million.