While poverty continues to rock most corners of the world, CSMS Magazine has learned that the children of Michael Jackson have just been given a raise—from $5 million a year to $8 million. This is due to recent growth in value the estate has experienced. Yes, $8 million yearly is the children’s allowance. Prince is 17, Paris is 16, and Blanket is 12. According to Yahoo News, it appears the children have been taken full advantage of it.
Prince has spent more than $50,000 on custom-made jewelry for three of his girlfriends, plus $40,000 on a new Ford pick-up truck. Paris also likes to buy gifts for friends, including shoes and athletic gear. The annual cost for her to stay at a therapeutic boarding school, following last year’s suicide attempt, is also in the six figures. Blanket likes to take his cousins to dinners at expensive restaurants; their nights out, which also include trips to the movies, typically come to about $500 plus tips. He also spends $200 an hour for karate lessons and a personal trainer.
The kids also take three vacations a year, totaling $350,000 including first-class airfare and security-in Hawaii, they stay in a $5,500-per-night suite; in Vegas, they sometimes rent the Bellagio’s penthouse suite, which can cost as much as $5,000 per night.
I’m not saying the children should not have received any allowance. They should, but not this bulk of money delivering to children who are still minors and who clearly do not know how to manage large sums of money. This money should have been placed in a trust fund until the kids are old enough to understand complex problems of society. But those who are doing this are simply motivated in making profits off vulnerable children. One wonders, what would the children of Haiti, Bangladesh and other poor countries think of this?
Note: Gyna Jean-Pierre is essayist and report on relationship issues. She lives in Ponte Vedra, Florida.