Infotainment

Michael Jackson’s estate raked in almost $2bn in1st decade since death

Sep 23 (Agencies) | Publish Date: 9/23/2019 11:19:39 AM IST

 The estate of the late Michael Jackson has reportedly earned almost $2 billion since the singer’s death a decade ago.

New documents obtained by The Blast, reveal that the late singer’s estate has pulled in $1.7 billion (£1.36 billion) profits since he died in 2009.

In documents submitted to the Los Angeles County Court, the Jackson estate’s executor and lawyers explain how they are garnering “significant revenues”.

“With the assistance of their counsel, the Executors have successfully rebuilt and enhanced Michael Jackson’s image, solidified the MJJ business as a significant entity in the entertainment industry, entered into and continue to enter into unprecedented business deals that have produced, and will in the future produce, significant revenues for the Estate,” his team said in the document.

Late last year, it was revealed that Jackson had topped the list of the highest paid dead celebrities for the sixth year in the row.

The late King of Pop’s estate reportedly raked in £313 million in 2017, which was largely boosted by the sale of his lucrative stake in EMI Music Publishing.

Over the weekend, it was confirmed that the lawsuit brought against HBO by Michael Jackson‘s estate must be moved to arbitration, after the network aired controversial documentary Leaving Neverland earlier in the year.

The Dan Reed-directed documentary, which divided viewers upon its UK airing earlier this year, focuses on testimony by Wade Robson, 36, and James Safechuck, 41, who both claim that Jackson sexually abused them when they were children. In the wake of the film being shown, Jackson’s songs were subsequently banned on numerous radio stations around the world. 

(NME)

 

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