Michael Jackson’s Estate Making Big Big Bucks, $600M

Michael Jackson‘s estate was in debt, but now it has $18 million in cash and $600 million in revenue and the estate is bringing in the big bucks again!

His main beneficiaries are his kids: Paris, Prince and Blanket Jackson.

According to the NY Daily News, The kids get an $8 million per year luxury lifestyle. This includes $3 million on education, $300,000 on vacations — a single trip cost $250,000 — $15,000 in pocket money, $600,000 in security and a rental mansion with $28,500 monthly rent, 

How did MJ get into a hole and then, dig himself out?

MJ was spending between $30 – $50 million on himself a year. He purchased Neverland Ranch which cost $17 million and $5 million to maintain yearly. It was his home from 1988 to 2005.

MJ spent $65 million on video projects.

But instead of selling his musical catalog after his death, his executors made publishing and licensing deals, sold his FUTURE music rights to Sony for $250 million and made nearly $500 million from the film, “This is It.”

Celebrities  in financial ruin, take note!