Since Michael Jackson’s 2009 death, his estate has raked in more than $600 million, according to The Huffington Post. Although the King of Pop has been dead for five years, Michael Jackson is still bringing in a major fortune with posthumous projects approved by his estate.
The estate has been very busy this year keeping Jackson’s past work and image as current as possible for profit. Last month, Pulse Evolution debuted a hologram in the entertainer’s image, and it performed Jackson’s song “Slave to the Rhythm” at the Billboard Music Awards. A posthumous album released on May 13th by Sony, entitled Xscape, debuted at number two on the Billboard charts and number one in the U.K. Lastly, there is a Cirque du Soleil show playing in Las Vegas that pays tribute to Jackson. Tickets sell for about $75 to about $200.
Out of Jackson’s fortune, his three children— Prince, 17, Paris, 16, and Blanket, 12— receive $8 million annually, according to The New York Post. The inheritance pays for expenses such as Paris’ six-figure therapeutic boarding school in Utah, Prince’s $30,000 private school, and $200-an-hour karate lessons for Blanket.
As stated in Jackson’s will, his children will split half of his estate’s fortune once they turn 33. They will inherit the rest when they turn 40.
The estimated value of the estate is currently over $1 billion.
The mock performances and albums show no signs of slowing down, at least not for a few years. In 2010, when Jackson’s estate signed a new record deal with Sony that is contracted to last until 2017, record label heads assured the public that the deal would not stop at just creating albums. “It’s not just a record deal,” said Rob Stringer, chairman of the Columbia/Epic Label Group, a Sony division. “There are also audio rights for theater, movies, [and] computer games.”