By Mike Rever
Special to CSMS Magazine
Who would believe it? Michael Jackson is poised to be richer in death than in life, as the greatest entertainer-ever-lived has been getting a lot of attention lately. Since his death, his albums sales have gone through the roof. As the demand for everything Michael Jackson grows, it sends a bitter-sweet feeling into the hearts of king of pop diehard fans scattered all over the world. His career has been immortalized by a never-seen-before frenzy to buy a piece of Michael legacy. But unfortunately, Michael is not here to celebrate with us.
Forbes magazine has recently stated that Michael Jackson estate has already beaten Elvis Presley‘s estate for highest earnings from a dead celebrity. Since he passed away, Michael’s estate has swelled to over$60 million dollars, beating Elvis’s $34 million from earlier this year.
The most interesting asset about his legacy, though, is his children: Michael Jackson Jr. who is 12, Paris Katherine Jackson who is 11, and Prince Michael Jackson who is 7. The custody of these children belongs to their grandmother, Katherine Jackson. The decision was made two weeks ago in a LA courtroom. Now the big decision is to weather or not Mrs. Jackson should be the 3rd co-executive of Michael’s estate.
Only time will tell if this is to happen. Many fans believe that Mrs. Jackson should be the head of her son’s music and business. A lot of industry insiders believe in the end Mrs. Jackson will get the position as 3rd co-executive. John Branca, who has been Michael Jackson’s lawyer for some 20 plus years, is well trusted and will take good care of his estate. But somebody from the family should be up in the “decision” room, too.
Only time will tell. The most possible outcome is that Katherine will be called 3rd co-executive. Whatever the end result may be, Michael’s kids will get 40% of the income, making them one of the richest young people to date.
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